A bill to provide taxpayers an additional year in which to correct certain attempted rollovers of lump sum distributions which occurred in taxable years beginning after 1974 and before October 14, 1978.

Amends the Internal Revenue Code to extend until December 31, 1979, the date by which taxpayers must comply with requirements for the exclusion from gross income of rollovers of lump sum distributions from certain tax-exempt pensions, annuities, or other retirement plans.