H.R. 982 — To avoid duplicative annual reporting under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974, and for other purposes.

Summary

This bill requires the Department of the Treasury and the Department of Labor to cooperate to modify specified returns required for deferred compensation plans and other employee benefit plans to permit all members of a group of plans to file a single aggregated annual return or report satisfying the requirements of both the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA).

The requirement applies to a group in which all of the plans

are individual account plans or defined contribution plans;
have the same trustee, the same one or more named fiduciaries, the same administrator, and plan years beginning on the same date; and
provide the same investments or investment options to participants and beneficiaries.

The bill also specifies that, for the purposes of applying the numerical limitations related to the electronic filing of returns for deferred compensation plans, each plan for which information is provided on the return must be treated as a separate return.

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Related Legislation

H.R. 1007Retirement Enhancement and Savings Act of 2019
2019-02-06Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Related
H.R. 1865Further Consolidated Appropriations Act, 2020
2019-12-20Became Public Law No: 116-94.
Related
H.R. 1994Setting Every Community Up for Retirement Enhancement Act of 2019
2019-06-03Received in the Senate.
Related
S. 354A bill to avoid duplicative annual reporting under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974, and for other purposes.
2019-02-06Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Related

Legislative Actions

2019-02-05
Introduced in House
2019-02-05
Introduced in House
2019-02-05
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2019-02-05
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

To avoid duplicative annual reporting under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974, and for other purposes.

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Summary

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