A bill to provide that certain small reversions of qualified plan assets before the date of the enactment of the Tax Reform Act of 1986 will not be subject to the excise tax on such reversions added by such Act.

Exempts from the excise tax on employer reversions any reversion from qualified retirement plan assets: (1) that occurred prior to the enactment of the Tax Reform Act of 1986 pursuant to a plan termination occurring before that same date; and (2) that results in an aggregate employer reversion amount of $1,000,000 or less.