For inflation adjustment of certain items in this section, see Internal Revenue Notices listed in a table under section 401 of this title.
The Social Security Act, referred to in subsec. (a)(1)(C), is act Aug. 14, 1935, ch. 531, 49 Stat. 620. Title II of the Social Security Act is classified generally to subchapter II (§ 401 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see section 1305 of Title 42 and Tables.
Section 401(a)(17), referred to in subsec. (a)(2), was repealed by Pub. L. 97–248, title II, § 237(b),
The date of the enactment of the Tax Reform Act of 1986, referred to in subsec. (a)(3)(A)(v)(II), is the date of enactment of Pub. L. 99–514, which was approved
The Employee Retirement Income Security Act of 1974, referred to in subsecs. (a)(1)(D)(iv), (7)(C)(iv), (g)(1), (3)(B), (C), (4), and (o)(3)(B)(ii), (5), is Pub. L. 93–406,
The date of the enactment of the Retirement Protection Act of 1994, referred to in subsec. (g)(4), is the date of enactment of subtitle F (§§ 750–781) of title VII of Pub. L. 103–465, which was approved
2014—Subsec. (o)(8). Pub. L. 113–97 added par. (8).
2012—Subsec. (o)(6). Pub. L. 112–141 inserted “(determined by not taking into account any adjustment under clause (iv) of subsection (h)(2)(C) thereof)” before period at end.
2008—Subsec. (a)(1)(D)(i). Pub. L. 110–458, § 108(b), substituted “431(c)(6)(D)” for “431(c)(6)(C)”.
Subsec. (a)(2). Pub. L. 110–245 substituted “(31), and (37)” for “and (31)”.
Subsec. (a)(7)(A). Pub. L. 110–458, § 108(a)(2), in concluding provisions, substituted “the excess (if any) of the plan’s funding target (as defined in section 430(d)(1)) over the value of the plan’s assets (as determined under section 430(g)(3))” for “the plan’s funding shortfall determined under section 430” in last sentence and struck out second sentence which read as follows: “For purposes of clause (ii), if paragraph (1)(D) applies to a defined benefit plan for any plan year, the amount necessary to satisfy the minimum funding standard provided by section 412 with respect to such plan for such plan year shall not be less than the unfunded current liability of such plan under section 412(l).”
Subsec. (a)(7)(C)(iii). Pub. L. 110–458, § 108(c), amended cl. (iii) generally. Prior to amendment, text read as follows: “In the case of employer contributions to 1 or more defined contribution plans, this paragraph shall only apply to the extent that such contributions exceed 6 percent of the compensation otherwise paid or accrued during the taxable year to the beneficiaries under such plans. For purposes of this clause, amounts carried over from preceding taxable years under subparagraph (B) shall be treated as employer contributions to 1 or more defined contributions to the extent attributable to employer contributions to such plans in such preceding taxable years.”
Subsec. (o)(2)(A)(ii). Pub. L. 110–458, § 108(a)(1)(A), substituted “430(g)(3)” for “430(g)(2)”.
Subsec. (o)(4)(B). Pub. L. 110–458, § 108(a)(1)(B), substituted “412(d)(3)” for “412(f)(4)”.
2006—Subsec. (a)(1)(A). Pub. L. 109–280, § 801(a)(1), (c)(1), inserted “in the case of a defined benefit plan other than a multiemployer plan, in an amount determined under subsection (o), and in the case of any other plan” after “section 501(a),” in introductory provisions and substituted “431” for “412” in two places in concluding provisions.
Subsec. (a)(1)(B). Pub. L. 109–280, § 801(c)(2), in introductory provisions, substituted “In the case of a multiemployer plan” for “In the case of a plan”, “431(c)(6)” for “412(c)(7)”, “431(c)(6)(A)(ii)” for “412(c)(7)(B)”, “431(c)(6)(A)(i)” for “412(c)(7)(A)”, and “431” for “412”, and, in cl. (i), substituted “431(c)(6)” for “412(c)(7)”.
Subsec. (a)(1)(D). Pub. L. 109–280, § 802(a), amended heading and text of subpar. (D) generally, substituting provisions relating to maximum amount deductible in the case of a defined benefit plan which is a multiemployer plan for provisions relating to maximum amount deductible in the case of any defined benefit plan and stating rule for plans with 100 or less participants, rule for determining number of participants, and rule for terminating plans.
Subsec. (a)(1)(D)(i). Pub. L. 109–280, § 801(d)(1), substituted “section 412(l)(8)(A), except that section 412(l)(8)(A) shall be applied for purposes of this clause by substituting ‘150 percent (140 percent in the case of a multiemployer plan) of current liability’ for ‘the current liability’ in clause (i).” for “section 412(l)”.
Subsec. (a)(1)(F). Pub. L. 109–280, § 801(d)(2), struck out heading and text of subpar. (F). Text read as follows: “An employer may elect to disregard subsections (b)(5)(B)(ii)(II) and (l)(7)(C)(i)(IV) of section 412 solely for purposes of determining the interest rate used in calculating the maximum amount of the deduction allowable under this paragraph.”
Subsec. (a)(7)(A). Pub. L. 109–280, § 801(c)(3)(A), inserted at end “In the case of a defined benefit plan which is a single employer plan, the amount necessary to satisfy the minimum funding standard provided by section 412 shall not be less than the plan’s funding shortfall determined under section 430.”
Subsec. (a)(7)(C)(iii). Pub. L. 109–280, § 803(a), added cl. (iii).
Subsec. (a)(7)(C)(iv). Pub. L. 109–280, § 801(b), added cl. (iv).
Subsec. (a)(7)(C)(v). Pub. L. 109–280, § 803(b), added cl. (v).
Subsec. (a)(7)(D). Pub. L. 109–280, § 801(c)(3)(B), added subpar. (D) and struck out heading and text of former subpar. (D). Former text read as follows: “For purposes of this paragraph, any plan described in section 412(i) shall be treated as a defined benefit plan.”
Subsec. (o). Pub. L. 109–280, § 801(a)(2), added subsec. (o).
2004—Subsec. (a)(1)(F). Pub. L. 108–218 added subpar. (F).
2002—Subsec. (a)(1)(D)(iv). Pub. L. 107–147, § 411(s), substituted “Special rule for terminating plans” for “Plans maintained by professional service employers” in heading.
Subsec. (a)(7)(C). Pub. L. 107–147, § 411(l)(4), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “This paragraph shall not have the effect of reducing the amount otherwise deductible under paragraphs (1), (2), and (3), if no employee is a beneficiary under more than 1 trust or under a trust and an annuity plan.”
Subsec. (a)(12). Pub. L. 107–147, § 411(l)(1), substituted “(9) and subsection (h)(1)(C),” for “(9),”.
Subsec. (k)(1). Pub. L. 107–147, § 411(w)(1)(A), struck out “during the taxable year” after “such corporation”.
Subsec. (k)(2)(B). Pub. L. 107–147, § 411(w)(1)(B), substituted “(A)(iv)” for “(A)(iii)”.
Subsec. (k)(4)(B), (C). Pub. L. 107–147, § 411(w)(1)(C), (D), substituted “clause (iv)” for “clause (iii)” in subpar. (B), added a new subpar. (B), and redesignated former subpar. (B) as (C).
Subsec. (k)(7). Pub. L. 107–147, § 411(w)(2), added par. (7).
Subsec. (n). Pub. L. 107–147, § 411(l)(2), substituted “subsection (a) or paragraph (1)(C) of subsection (h)” for “subsection (a),”.
2001—Subsec. (a)(1)(A). Pub. L. 107–16, § 616(a)(2)(B)(i), inserted “(other than a trust to which paragraph (3) applies)” after “pension trust” in introductory provisions.
Subsec. (a)(1)(D). Pub. L. 107–16, § 652(a), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “In the case of any defined benefit plan (other than a multiemployer plan) which has more than 100 participants for the plan year, except as provided in regulations, the maximum amount deductible under the limitations of this paragraph shall not be less than the unfunded current liability determined under section 412(l). For purposes of determining whether a plan has more than 100 participants, all defined benefit plans maintained by the same employer (or any member of such employer’s controlled group (within the meaning of section 412(l)(8)(C))) shall be treated as 1 plan, but only employees of such member or employer shall be taken into account.”
Subsec. (a)(3)(A)(i)(I). Pub. L. 107–16, § 616(a)(1)(A), substituted “25 percent” for “15 percent”.
Subsec. (a)(3)(A)(v). Pub. L. 107–16, § 616(a)(2)(A), amended cl. (v) generally, substituting present provisions for provisions which directed that the limitation of cl. (i) for any taxable year would be increased by the unused pre-87 limitation carryforwards and defined “unused pre-87 limitation carryforwards”.
Subsec. (a)(3)(B). Pub. L. 107–16, § 616(b)(2)(A), struck out at end “The term ‘compensation otherwise paid or accrued during the taxable year to all employees’ shall include any amount with respect to which an election under section 415(c)(3)(C) is in effect, but only to the extent that any contribution with respect to such amount is nonforfeitable.”
Subsec. (a)(10)(B). Pub. L. 107–16, § 632(a)(3)(B), struck out “, the exclusion allowance under section 403(b)(2),” after “deferrals under section 402(g)”.
Subsec. (a)(12). Pub. L. 107–16, § 616(b)(1), added par. (12).
Subsec. (h)(1)(C). Pub. L. 107–16, § 616(a)(1)(B), substituted “25 percent” for “15 percent” in two places.
Subsec. (h)(2). Pub. L. 107–16, § 616(a)(2)(B)(ii), (iii), substituted “certain trusts” for “stock bonus and profit-sharing trust” in heading and “trust subject to subsection (a)(3)(A)” for “stock bonus or profit-sharing trust” in text.
Subsec. (k)(2)(A)(iii), (iv). Pub. L. 107–16, § 662(a), added cl. (iii) and redesignated former cl. (iii) as (iv).
Subsec. (k)(5)(A). Pub. L. 107–16, § 662(b), inserted “avoidance or” before “evasion”.
Subsec. (l). Pub. L. 107–16, § 611(c)(1), substituted “$200,000” for “$150,000” in two places.
Subsec. (n). Pub. L. 107–16, § 614(a), added subsec. (n).
1998—Subsec. (a)(9)(C), (D). Pub. L. 105–206, § 6015(d), redesignated subpar. (C), relating to qualified gratuitous transfers, as (D) and inserted heading.
Subsec. (a)(11). Pub. L. 105–206, § 7001(a), added par. (11).
1997—Subsec. (a)(3)(A)(i). Pub. L. 105–34, § 1601(d)(2)(C)(i), substituted “not in excess of the greater of—” and subcls. (I) and (II) for “not in excess of 15 percent of the compensation otherwise paid or accrued during the taxable year to the beneficiaries under the stock bonus or profit-sharing plan.”
Subsec. (a)(3)(A)(ii). Pub. L. 105–34, § 1601(d)(2)(C)(ii), substituted “the amount described in subclause (I) or (II) of clause (i), whichever is greater, with respect to such taxable year.” for “15 percent of the compensation otherwise paid or accrued during such taxable year to the beneficiaries under the plan.”
Subsec. (a)(9)(C). Pub. L. 105–34, § 1530(c)(2), added subpar. (C) relating to qualified gratuitous transfers.
1996—Subsec. (a)(2). Pub. L. 104–188, § 1704(t)(76), struck out “(18),” after “(17),”.
Subsec. (a)(9)(C). Pub. L. 104–188, § 1316(d)(1), added subpar. (C) relating to S corporations.
Subsec. (a)(10). Pub. L. 104–188, § 1461(b), added par. (10).
Subsec. (j)(1). Pub. L. 104–188, § 1704(q)(1), substituted “(9)” for “(10)” in introductory provisions.
Subsec. (k)(1). Pub. L. 104–188, § 1316(d)(2), substituted “a C corporation” for “a corporation”.
Subsec. (l). Pub. L. 104–188, § 1431(b)(3), struck out at end “In determining the compensation of an employee, the rules of section 414(q)(6) shall apply, except that in applying such rules, the term ‘family’ shall include only the spouse of the employee and any lineal descendants of the employee who have not attained age 19 before the close of the year.”
Subsec. (m). Pub. L. 104–188, § 1421(b)(2), added subsec. (m).
1994—Subsec. (g)(4). Pub. L. 103–465 substituted “the Retirement Protection Act of 1994” for “the Single-Employer Pension Plan Amendments Act of 1986”.
1993—Subsec. (l). Pub. L. 103–66 substituted “$150,000” for “$200,000” in first sentence and “The Secretary shall adjust the $150,000 amount at the same time, and by the same amount, as any adjustment under section 401(a)(17)(B).” for “The Secretary shall adjust the $200,000 amount at the same time and in the same manner as under section 415(d).”
1992—Subsec. (a)(2). Pub. L. 102–318 substituted “(27), and (31)” for “and (27)”.
1990—Subsec. (a)(1)(C). Pub. L. 101–508 substituted “section 168(i)(10)(C)” for “section 167(l)(3)(A)(iii)”.
1989—Subsec. (g)(1). Pub. L. 101–239, § 7841(b)(1), inserted “4041(b),” after “under section”.
Subsec. (k). Pub. L. 101–239, § 7302(a), amended subsec. (k) generally, substituting “Deduction for dividends paid on certain employer securities” for “Dividends paid deductions” in heading and pars. (1) to (6) for former pars. (1) and (2) and concluding provisions.
1988—Subsec. (a)(1)(D). Pub. L. 100–647, § 2005(b)(3), struck out “(without regard to any reduction by the credit balance in the funding standard account)” after “under section 412(l)”.
Pub. L. 100–647, § 2005(b)(1), substituted “For purposes of determining whether a plan has more than 100 participants” for “For purposes of this subparagraph”.
Subsec. (a)(7)(A). Pub. L. 100–647, § 2005(b)(2), inserted at end “For purposes of clause (ii), if paragraph (1)(D) applies to a defined benefit plan for any plan year, the amount necessary to satisfy the minimum funding standard provided by section 412 with respect to such plan for such plan year shall not be less than the unfunded current liability of such plan under section 412(l).”
Pub. L. 100–647, § 1011A(e)(4)(A), in introductory provisions, substituted “foregoing paragraphs” for “foregoing provisions” and inserted “or in connection with trusts or plans described in 2 or more of such paragraphs” after “defined benefit plans”.
Subsec. (a)(8)(D). Pub. L. 100–647, § 1018(t)(5), made technical correction to Pub. L. 99–514, § 1875(c)(7)(B), see 1986 Amendment note below.
Subsec. (h)(1)(C). Pub. L. 100–647, § 1011(f)(6), inserted “(or during the taxable year in the case of a taxable year described in subparagraph (A)(ii))” after “within the taxable year”.
Subsec. (h)(3). Pub. L. 100–647, § 1011A(e)(4)(B), substituted “Coordination with subsection (a)(7)” for “Effect on limit on deductions” in heading and amended text generally. Prior to amendment, text read as follows: “For any taxable year for which the employer has a deduction under paragraph (1), the otherwise applicable 25 percent limitations in subsection (a)(7) shall be reduced by the amount of the allowable deductions under paragraph (1) with respect to participants in the stock bonus or profit-sharing trust.”
Subsec. (k). Pub. L. 100–647, § 1011B(h)(3)(A), inserted “(whether or not allocated to participants)” after “to employer securities” in par. (2)(C).
Pub. L. 100–647, § 1011B(h)(6), substituted “or as engaging in a prohibited transaction for purposes of section 4975(d)(3) merely by reason of any distribution or payment” for “merely by reason of any distribution” in third sentence.
Pub. L. 100–647, § 1018(t)(4)(A), substituted “evasion of taxation” for “avoidance of taxation” in fourth sentence.
Pub. L. 100–647, § 1011B(h)(3)(B), inserted at end “Paragraph (2)(C) shall not apply to dividends from employer securities which are allocated to any participant unless the plan provides that employer securities with a fair market value not less than the amount of such dividends are allocated to such participant for the year which (but for paragraph (2)(C)) such dividends would have been allocated to such participant.”
Subsec. (l). Pub. L. 100–647, § 1011(d)(4), inserted at end “In determining the compensation of an employee, the rules of section 414(q)(6) shall apply, except that in applying such rules, the term ‘family’ shall include only the spouse of the employee and any lineal descendants of the employee who have not attained age 19 before the close of the year.”
Pub. L. 100–647, § 1011(d)(1), inserted at end “For purposes of clause (i), (ii), or (iii) of subsection (a)(1)(A), and in computing the full funding limitation, any adjustment under the preceding sentence shall not be taken into account for any year before the year for which such adjustment first takes effect.”
1987—Subsec. (a)(1)(A)(iii). Pub. L. 100–203, § 9307(d), inserted “the unfunded costs attributable to” after “to amortize”.
Subsec. (a)(1)(D), (E). Pub. L. 100–203, § 9307(c), added subpar. (D) and redesignated former subpar. (D) as (E).
Subsec. (a)(5). Pub. L. 100–203, § 10201(b)(3), inserted at end “For purposes of this section, any vacation pay which is treated as deferred compensation shall be deductible for the taxable year of the employer in which paid to the employee.”
Subsec. (b)(2)(B). Pub. L. 100–203, § 10201(b)(2), substituted “Exception” for “Exception for certain benefits” in heading and amended text generally. Prior to amendment, text read as follows: “Subparagraph (A) shall not apply to—
“(i) any benefit provided through a welfare benefit fund (as defined in section 419(e)), or
“(ii) any benefit with respect to which an election under section 463 applies.”
1986—Subsec. (a). Pub. L. 99–514, § 1851(b)(2)(C)(i), substituted “this chapter; but, if they would otherwise be deductible” for “section 162 (relating to trade or business expenses) or section 212 (relating to expenses for the production of income); but, if they satisfy the conditions of either of such sections”.
Subsec. (a)(2). Pub. L. 99–514, § 1136(b), substituted “(26), and (27)” for “and (26)”.
Pub. L. 99–514, § 1112(d)(2), substituted “(22), and (26)” for “and (22)”.
Subsec. (a)(3)(A). Pub. L. 99–514, § 1131(a), amended subpar. (A) generally, revising and restating as cls. (i) to (v) provisions formerly contained in single paragraph.
Subsec. (a)(7). Pub. L. 99–514, § 1131(b), amended par. (7) generally, revising and restating as subpars. (A) to (C) provisions formerly contained in single paragraph, and adding subpar. (D).
Subsec. (a)(8)(C). Pub. L. 99–514, § 1875(c)(7)(A), inserted “(determined without regard to the deductions allowed by this section)”.
Subsec. (a)(8)(D). Pub. L. 99–514, § 1875(c)(7)(B), as amended by Pub. L. 100–647, § 1018(t)(5), struck out “(determined without regard to the deductions allowed by this section)” after “earned income of such individual”.
Pub. L. 99–514, § 1848(c), substituted “the deduction allowed by this section” for “the deductions allowed by this section and section 405(c)”.
Subsec. (b). Pub. L. 99–514, § 1851(b)(2)(B)(i), substituted “certain” for “unfunded” in heading.
Subsec. (b)(2). Pub. L. 99–514, § 1851(b)(2)(A), (B)(ii), substituted “certain” for “unfunded” in heading, and in subpar. (B)(ii), substituted “any benefit” for “to any benefit”.
Subsec. (d). Pub. L. 99–514, § 1851(b)(2)(C)(ii), substituted “under this chapter” for “under section 162 or 212” in pars. (1) and (2).
Subsec. (g)(3). Pub. L. 99–272, § 11011(c)(1), amended par. (3) generally. Prior to the amendment, par. (3), coordination with subsection (a), read as follows: “Any payment described in paragraph (1) shall (subject to the last sentence of subsection (a)(1)(A)) be deductible under this section when paid.”
Subsec. (g)(4). Pub. L. 99–272, § 11011(c)(2), added par. (4).
Subsec. (h)(1)(A), (B). Pub. L. 99–514, § 1108(c), amended subpars. (A) and (B) generally. Prior to amendment, subpars. (A) and (B) read as follows:
“(A) Contributions made for a calendar year are deductible for the taxable year with which or within which the calendar year ends.
“(B) Contributions made within 3½ months after the close of a calendar year are treated as if they were made on the last day of such calendar year if they are made on account of such calendar year.”
Subsec. (i). Pub. L. 99–514, § 1171(b)(6), struck out subsec. (i) relating to the deductibility of unused portions of employee stock ownership credit.
Subsec. (k). Pub. L. 99–514, § 1854(b)(2)(B), struck out “during the taxable year” after “cash by such corporation” in introductory provisions.
Pub. L. 99–514, § 1854(b)(4), inserted “The Secretary may disallow the deduction under this subsection for any dividend if the Secretary determines that such dividend constitutes, in substance, an avoidance of taxation.”
Pub. L. 99–514, § 1854(b)(3), inserted “A plan to which this subsection applies shall not be treated as violating the requirements of section 401, 409, or 4975(e)(7) merely by reason of any distribution described in paragraph (2).”
Pub. L. 99–514, § 1854(b)(2)(A), inserted “Any deduction under subparagraph (A) or (B) of paragraph (2) shall be allowed in the taxable year of the corporation in which the dividend is paid or distributed to the participant under paragraph (2).”
Pub. L. 99–514, § 1173(a)(2), inserted “Any deduction under paragraph (2)(C) shall be allowable in the taxable year of the corporation in which the dividend is used to repay the loan described in such paragraph.”
Subsec. (k)(2)(A), (B). Pub. L. 99–514, § 1854(b)(5), inserted “or their beneficiaries”.
Subsec. (k)(2)(C). Pub. L. 99–514, § 1173(a)(1), added subpar. (C).
Subsec. (l). Pub. L. 99–514, § 1106(d)(2), added subsec. (l).
1984—Subsec. (a)(8)(D). Pub. L. 98–369, § 713(d)(6), inserted “(determined without regard to the deductions allowed by this section and section 405(c))”.
Subsec. (a)(9), (10). Pub. L. 98–369, § 713(d)(4)(A), struck out par. (9) relating to plans benefiting self-employed individuals and redesignated par. (10) as (9).
Subsec. (b). Pub. L. 98–369, § 512(a), amended subsec. (b) generally, inserting heading, redesignating former heading as par. (1) heading, designating existing provisions as par. (1), and in par. (1) as so designated, inserted “(including a plan described in paragraph (2))” after “compensation” and adding par. (2).
Subsec. (e). Pub. L. 98–369, § 713(d)(9), substituted “under paragraph (1), (2), or (3) of subsection (a)” for “under this section”.
Subsec. (f). Pub. L. 98–369, § 713(b)(3), repealed subsec. (f) which related to certain loan repayments considered as contributions.
Subsec. (h)(4). Pub. L. 98–369, § 713(d)(5), repealed par. (4) which related to effect on self-employed individuals or shareholder-employees.
Subsec. (i). Pub. L. 98–369, § 474(r)(14), in par. (1), substituted “If any portion of the employee stock ownership credit determined under section 41 for any taxable year has not, after the application of section 38(c), been allowed under section 38 for any taxable year, such portion shall be allowed as a deduction (without regard to any limitations provided under this section) for the last taxable year to which such portion could have been allowed as a credit under section 39” for “There shall be allowed as a deduction (without regard to any limitations provided under this section) for the last taxable year to which an unused employee stock ownership credit carryover (within the meaning of section 44G(b)(2)(A)) may be carried, an amount equal to the portion of such unused credit carryover which expires at the close of such taxable year”, and in par. (2), substituted references to section 41 and 41(c)(3) for references to section 44G and 44G(c)(3), respectively.
Subsec. (k). Pub. L. 98–369, § 542(a), added subsec. (k).
1982—Subsec. (a)(2). Pub. L. 97–248, § 237(e)(2), substituted “(8), (9)” for “(8)”, and “401(a)(10) and of section 401(d)” for “401(a)(9), (10), (17), and (18) and of section 401(d) (other than paragraph (1))”.
Subsec. (a)(3)(B). Pub. L. 97–248, § 253(b), inserted provision that “compensation otherwise paid or accrued during the taxable year to all employees” shall include any amount with respect to which an election under section 415(c)(3)(C) is in effect, but only to the extent that any contribution with respect to such amount is nonforfeitable.
Subsec. (e). Pub. L. 97–248, § 238(a), amended subsec. (e) generally, substituting provisions relating to contributions allocable to life insurance protection for self-employed individuals, for provisions relating to general requirements, contributions made under more than one plan, contributions allocable to insurance protection, and limitations of not lower than $750 or 100 percent of earned income with respect to special limitations for self-employed individuals.
Subsec. (j). Pub. L. 97–248, § 235(f), added subsec. (j).
1981—Subsec. (a)(10). Pub. L. 97–34, § 333(a), added par. (10).
Subsec. (e). Pub. L. 97–34, § 312(a), substituted in pars. (1) and (2)(A) “$15,000” for “$7,500”.
Subsec. (i). Pub. L. 97–34, § 331(b), added subsec. (i).
1980—Subsec. (g). Pub. L. 96–364 redesignated existing provisions as par. (1), inserted applicability to part 1 of subtitle E of title IV of Employee Retirement Income Security Act of 1974, and added pars. (2) and (3).
Subsec. (h). Pub. L. 96–222 inserted “or shareholder employees” after “individuals” in heading, and in par. (4) “or described in section 1379(b)(1)” after “of subsection (e)” and “or a shareholder-employee (as defined in section 1379(d))” after “section 401(c)(1)” and substituted in pars. (2) to (4) “paragraph (1)” for “subparagraph (1)”.
1978—Subsec. (a)(2). Pub. L. 95–600, § 141(f)(9), substituted “(20), and (22)” for “and (20)”.
Subsec. (b). Pub. L. 95–600, § 133(b), substituted “other plan” for “similar plan”.
Subsec. (d). Pub. L. 95–600, § 133(a), added subsec. (d).
Subsec. (h). Pub. L. 95–600, § 152(f), added subsec. (h).
1976—Subsec. (a)(1)(B), (8)(C). Pub. L. 94–455, § 1906(b)(13)(A), struck out “or his delegate” after “Secretary”.
Subsec. (a)(2). Pub. L. 94–267 substituted “(19), and (20)” for “and (19)”.
Subsec. (d). Pub. L. 94–455, § 1901(a)(59), struck out subsec. (d) which related to the taxability of the beneficiary under certain forfeitable contracts purchased by exempt organizations.
Subsec. (e)(2)(B), (3). Pub. L. 94–455, § 1906(b)(13)(A), struck out “or his delegate” after “Secretary”.
Subsec. (e)(4). Pub. L. 94–455, § 1502(a)(2), inserted provisions following subpar. (B).
1974—Subsec. (a)(1). Pub. L. 93–406, § 1013(c)(1), expanded subpars. (A), (B), and (C) to accommodate the increased minimum funding standards required by section 412.
Subsec. (a)(2). Pub. L. 93–406, §§ 1016(a)(3), 2001(g)(2)(E), 2004(c)(1), inserted references to the requirements of section 401(a)(11), (12), (13), (14), (15), (16), (17), (18), and (19), and, if applicable, the requirements of section 401(a)(17) and (18).
Subsec. (a)(3)(A). Pub. L. 93–406, § 2004(b), inserted “, but the amount so deductible under this sentence in any one succeeding taxable year together with the amount so deductible under the first sentence of this subparagraph shall not exceed 25 percent of the compensation otherwise paid or accrued during such taxable year to the beneficiaries under the plan” after “If in any taxable year there is paid into the trust, or a similar trust then in effect, amounts less than the amounts deductible under the preceding sentence, the excess, or if no amount is paid, the amounts deductible, shall be carried forward and be deductible when paid in the succeeding taxable years in order of time, but the amount so deductible under this sentence in any such succeeding taxable year shall not exceed 15 percent of the compensation otherwise paid or accrued during such succeeding taxable year to the beneficiaries under the plan”.
Subsec. (a)(6). Pub. L. 93–406, § 1013(c)(2), substituted provisions covering only taxpayers operating on the accrual basis for provisions covering the time when contributions shall be deemed made.
Subsec. (a)(7). Pub. L. 93–406, § 1013(c)(3), inserted reference to the amount of contributions made to or under the trusts or plans to the extent such contributions do not exceed the amount of employer contributions necessary to satisfy the minimum funding standards provided by section 412 for the plan year which ends with or within such taxable year (or for any prior plan year) and substituted “25 percent” for “30 percent” in provision covering amounts paid into trusts or under an annuity plan in any taxable year in excess of the amount allowable with respect to such year.
Subsec. (a)(9)(B)(ii). Pub. L. 93–406, § 2001(g)(2)(F), substituted “the second sentence of paragraph (3)” for “paragraph (1)(D), the second and third sentences of paragraph (3), and the second sentence of paragraph (7)”.
Subsec. (c). Pub. L. 93–406, § 2008(a), (b), substituted “or pensions” for “and pensions” in par. (1), substituted “The first and third sentences of this subsection” for “This subsection” in provisions covering amounts contributed to a trust on or after any date on which such trust is qualified for exemption from tax under section 501(a), inserted provisions setting out specified treatment to be accorded individuals who before
Subsec. (e)(1). Pub. L. 93–406, § 2001(a)(1), substituted “subject to paragraphs (2) and (4), not exceed $7,500, or 15 percent” for “subject to the provisions of paragraph (2), not exceed $2,500, or 10 percent”.
Subsec. (e)(2)(A). Pub. L. 93–406, § 2001(a)(2), substituted “shall (subject to paragraph (4)) not exceed $7,500, or 15 percent” for “shall not exceed $2,500 or 10 percent”.
Subsec. (e)(4). Pub. L. 93–406, § 2001(a)(3), added par. (4).
Subsec. (g). Pub. L. 93–406, § 4081(a), added subsec. (g).
1969—Subsec. (a)(5). Pub. L. 91–172 substituted “If the plan is not one included in paragraph (1), (2), or (3), in the taxable year in which an amount attributable to the contribution is includible in the gross income of employees participating in the plan, but, in the case of a plan in which more than one employee participates only if separate accounts are maintained for each employee” for “In the taxable year when paid, if the plan is not one included in paragraph (1), (2), or (3), if the employees’ rights to or derived from such employer’s contribution or such compensation are nonforfeitable at the time the contribution or compensation is paid”.
1966—Subsec. (a). Pub. L. 89–809, § 204(a), repealed par. (10) which provided for a special limitation on the amount allowed as a deduction for self-employed individuals.
Subsec. (e). Pub. L. 89–809, § 204(b)(2), (3), struck out references to par. (10) of subsec. (a) wherever appearing.
1962—Subsec. (a)(2). Pub. L. 87–863 inserted “, or retirement annuities and medical benefits as described in section 401(h),” after “purchase of retirement annuities”, and “, or such retirement annuities and medical benefits” after “such retirement annuities.”
Pub. L. 87–792, § 3(a)(1), substituted “(5), (6), (7), and (8), and, if applicable, the requirements of section 401(a)(9) and (10) and of section 401(d) (other than paragraph (1)),” for “(5), and (6),”.
Subsec. (a)(8) to (10). Pub. L. 87–792, § 3(a)(2), added pars. (8) to (10).
Subsecs. (e), (f). Pub. L. 87–792, § 3(b), added subsecs. (e) and (f).
1958—Subsec. (a). Pub. L. 85–866 substituted “income); but, if” for “income) but if” preceding par. (1).
Amendment by Pub. L. 113–97 applicable to years beginning after
Pub. L. 112–141, div. D, title II, § 40211(c), “(1) The amendments made by this section [amending this section, sections 417, 420 and 430 of this title, and sections 1021, 1055, 1083, 1306, and 1310 of Title 29, Labor, and enacting provisions set out as a note under section 1021 of Title 29] shall apply with respect to plan years beginning after “(2) “(A) A plan sponsor may elect not to have the amendments made by this section apply to any plan year beginning before “(i) for all purposes for which such amendments apply, or“(ii) solely for purposes of determining the adjusted funding target attainment percentage under sections 436 of the Internal Revenue Code of 1986 and 206(g) of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1056(g)] for such plan year.A plan shall not be treated as failing to meet the requirements of sections 204(g) of such Act [29 U.S.C. 1054(g)] and 411(d)(6) of such Code solely by reason of an election under this paragraph.“(B) If, on the date of the enactment of this Act [
Amendment by Pub. L. 110–458 effective as if included in the provisions of Pub. L. 109–280 to which the amendment relates, except as otherwise provided, see section 112 of Pub. L. 110–458, set out as a note under section 72 of this title.
Amendment by Pub. L. 110–245 applicable with respect to deaths and disabilities occurring on or after
Pub. L. 109–280, title VIII, § 801(e), “(1) Except as provided in paragraph (2), the amendments made by this section [amending this section and section 404A of this title] shall apply to years beginning after “(2) The amendments made by subsection (d) [amending this section] shall apply to years beginning after
Pub. L. 109–280, title VIII, § 802(b),
Pub. L. 109–280, title VIII, § 803(d),
Pub. L. 108–218, title I, § 101(d), “(1) Except as provided in paragraphs (2) and (3), the amendments made by this section [amending this section, sections 412 and 415 of this title, and sections 1082 and 1306 of Title 29, Labor] shall apply to plan years beginning after “(2) For purposes of applying subsections (d)(9)(B)(ii) and (e)(1) of section 302 of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1082(d)(9)(B)(ii), (e)(1)] and subsections (l)(9)(B)(ii) and (m)(1) of [former] section 412 of the Internal Revenue Code of 1986 to plan years beginning after “(3) In the case of any participant or beneficiary receiving a distribution after
Amendment by Pub. L. 107–147 effective as if included in the provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001, Pub. L. 107–16, to which such amendment relates, see section 411(x) of Pub. L. 107–147, set out as a note under section 25B of this title.
Amendment by section 611(c)(1) of Pub. L. 107–16 applicable to years beginning after
Pub. L. 107–16, title VI, § 614(b),
Pub. L. 107–16, title VI, § 616(c),
Amendment by section 632(a)(3)(B) of Pub. L. 107–16 applicable to years beginning after
Pub. L. 107–16, title VI, § 652(c),
Pub. L. 107–16, title VI, § 662(c),
Amendment by section 6015(d) of Pub. L. 105–206 effective, except as otherwise provided, as if included in the provisions of the Taxpayer Relief Act of 1997, Pub. L. 105–34, to which such amendment relates, see section 6024 of Pub. L. 105–206, set out as a note under section 1 of this title.
Pub. L. 105–206, title VII, § 7001(b), “(1) The amendment made by subsection (a) [amending this section] shall apply to taxable years ending after the date of the enactment of this Act [“(2) In the case of any taxpayer required by the amendment made by subsection (a) [amending this section] to change its method of accounting for its first taxable year ending after the date of the enactment of this Act [“(A) such change shall be treated as initiated by the taxpayer,“(B) such change shall be treated as made with the consent of the Secretary of the Treasury; and“(C) the net amount of the adjustments required to be taken into account by the taxpayer under section 481 of the Internal Revenue Code of 1986 shall be taken into account ratably over the 3-taxable year period beginning with such first taxable year.”
Amendment by section 1530(c)(2) of Pub. L. 105–34 applicable to transfers made by trusts to, or for the use of, an employee stock ownership plan after
Amendment by section 1601(d)(2)(C) of Pub. L. 105–34 effective as if included in the provisions of the Small Business Job Protection Act of 1996, Pub. L. 104–188, to which it relates, see section 1601(j) of Pub. L. 105–34, set out as a note under section 23 of this title.
Amendment by section 1316(d)(1), (2) of Pub. L. 104–188 applicable to taxable years beginning after
Amendment by section 1421(b)(2) of Pub. L. 104–188 applicable to taxable years beginning after
Amendment by section 1431(b)(3) of Pub. L. 104–188 applicable to years beginning after
Pub. L. 104–188, title I, § 1461(c),
Pub. L. 104–188, title I, § 1704(q)(2),
Amendment by Pub. L. 103–66 applicable, except as otherwise provided, to benefits accruing in plan years beginning after
Amendment by Pub. L. 102–318 applicable, except as otherwise provided, to distributions after
Amendment by Pub. L. 101–508 applicable to property placed in service after
Pub. L. 101–239, title VII, § 7302(b), “(1) The amendment made by this section [amending this section] shall apply to employer securities acquired after “(2) The amendment made by this section shall not apply to employer securities acquired after “(A) with the proceeds of any loan which was made pursuant to a binding written commitment in effect on “(B) pursuant to a written binding contract (or tender offer registered with the Securities and Exchange Commission) in effect on
Pub. L. 101–239, title VII, § 7841(b)(2),
Amendment by sections 1011(d)(1), (4), (f)(6), 1011A(e)(4), 1011B(h)(3), (6), and 1018(t)(4)(A), (5) of Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title.
Pub. L. 100–647, title II, § 2005(e),
Pub. L. 100–203, title IX, § 9307(f), “(1) Except as provided in paragraph (2), the amendments made by this section [amending this section and section 412 of this title and section 1082 of Title 29, Labor] shall apply to years beginning after “(2) Sections 412(b)(2)(B)(iv) and 412(b)(3)(B)(ii) of the Internal Revenue Code of 1986 and sections 302(b)(2)(B)(iv) and 302(b)(3)(B)(ii) of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1082(b)(2)(B)(iv), (3)(B)(ii)] (as amended by paragraphs (1)(A) and (2)(A) of subsection (a)) shall apply to gains and losses established in years beginning after
Pub. L. 100–203, title X, § 10201(c)(1),
Amendment by section 1106(d)(2) of Pub. L. 99–514 applicable to benefits accruing in years beginning after
Amendment by section 1108(c) of Pub. L. 99–514 applicable to years beginning after
Amendment by section 1112(d)(2) of Pub. L. 99–514 applicable to plan years beginning after
Pub. L. 99–514, title XI, § 1131(d), “(1) Except as provided in paragraph (2), the amendments made by this section [enacting section 4972 of this title and amending this section] shall apply to taxable years beginning after “(2) In the case of a plan maintained pursuant to 1 or more collective bargaining agreements between employee representatives and 1 or more employers ratified before “(A) “(B) the date on which the last of such collective bargaining agreements terminates (determined without regard to any extension thereof after
Amendment by section 1171(b)(6) of Pub. L. 99–514 applicable to compensation paid or accrued after
Pub. L. 99–514, title XI, § 1173(c)(1),
Amendment by sections 1848(c), 1851(b)(2)(A)–(C)(ii), and 1854(b)(3)–(5) of Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.
Amendment by section 1854(b)(2) of Pub. L. 99–514 not applicable to dividends paid before
Pub. L. 99–514, title XVIII, § 1875(c)(7)(B),
Pub. L. 99–272, title XI, § 11011(c)(3),
Amendment by section 474(r)(14) of Pub. L. 98–369 applicable to taxable years beginning after
Pub. L. 98–369, div. A, title V, § 512(c), “(1) Except as provided in paragraph (2), the amendments made by this section [amending this section and section 162 of this title] shall apply to amounts paid or incurred after the date of the enactment of this Act [“(2) In the case of any extended vacation pay plan maintained pursuant to a collective bargaining agreement—“(A) between employee representatives and 1 or more employers, and“(B) in effect on the amendments made by this section shall not apply before the date on which such collective bargaining agreement terminates (determined without regard to any extension thereof agreed to after
Pub. L. 98–369, div. A, title V, § 542(d),
Amendment by section 713 of Pub. L. 98–369 effective as if included in the provision of the Tax Equity and Fiscal Responsibility Act of 1982, Pub. L. 97–248, to which such amendment relates, see section 715 of Pub. L. 98–369, set out as a note under section 31 of this title.
Pub. L. 97–248, title II, § 253(c),
Amendment by section 235(f) of Pub. L. 97–248, in the case of any plan which is not in existence on
Amendment by sections 237 and 238 of Pub. L. 97–248 applicable to years beginning after
Amendment by section 312(a) of Pub. L. 97–34 applicable to plans which include employees within the meaning of section 401(c)(1) of this title with respect to taxable years beginning after
Pub. L. 97–34, title III, § 331(f)(2),
Amendment by Pub. L. 96–364 effective
Amendment by Pub. L. 96–222 effective, except as otherwise provided, as if it had been included in the provisions of the Revenue Act of 1978, Pub. L. 95–600, to which such amendment relates, see section 201 of Pub. L. 96–222, set out as a note under section 32 of this title.
Pub. L. 95–600, title I, § 133(c), “(1) Except as provided in paragraph (2), the amendments made by this section [amending this section] shall apply to deductions for taxable years beginning after “(2) “(A) In the case of a qualified title insurance company plan, the amendment made by subsection (a) [amending this section] shall apply to deductions for taxable years beginning after “(B) For purposes of subparagraph (A), the term ‘qualified title insurance company plan’ means a plan of a qualified title insurance company—“(i) which defers the payment of amounts credited by such company to separate accounts for members of such company in consideration of their issuance of policies of title insurance, and“(ii) under which no part of such amounts is payable to or withdrawable by the members until after the period for the adverse possession of real property under applicable State law.“(C) For purposes of subparagraph (B), the term ‘qualified title insurance company’ means an unincorporated title insurance company organized as a business trust—“(i) which is engaged in the business of providing title insurance coverage on interests in and liens upon real property obtained by clients of the members of such company, and“(ii) which is subject to tax under section 831 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954].”
Amendment by section 141(f)(9) of Pub. L. 95–600 effective with respect to qualified investment for taxable years beginning after
Amendment by section 152(f) of Pub. L. 95–600 applicable to taxable years beginning after
Amendment by section 1502(a)(2) of Pub. L. 94–455 effective for taxable years beginning after
Amendment by section 1901(a)(59) of Pub. L. 94–455 effective for taxable years beginning after
Amendment by Pub. L. 94–267 applicable with respect to payments made to an employee on or after
Amendment by sections 1013(c) and 1016(a)(3) of Pub. L. 93–406 applicable, except as otherwise provided in section 1017(c) through (i) of Pub. L. 93–406, for plan years beginning after
Pub. L. 93–406, title II, § 2001(i)(1),
Amendment by section 2001(g)(2)(E), (F) of Pub. L. 93–406 applicable to distributions made in taxable years beginning after
Pub. L. 93–406, title II, § 2008(c),
Amendment by section 2004(b), (c)(1) of Pub. L. 93–406 applicable to years beginning after
Amendment by section 4081(a) of Pub. L. 93–406 effective on
Amendment by Pub. L. 91–172 applicable with respect to contributions made and premiums paid after
Amendment by Pub. L. 89–809 applicable with respect to taxable years beginning after
Amendment by Pub. L. 87–863 applicable to taxable years beginning after
Amendment by Pub. L. 87–792 applicable to taxable years beginning after
Amendment by Pub. L. 85–866 applicable to taxable years beginning after
Secretary of the Treasury or his delegate to issue before
For provisions that nothing in amendment by Pub. L. 101–508 be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to
Pub. L. 107–16, title VI, § 658, “(a) For purposes of section 446 of the Internal Revenue Code of 1986, a determination under section 404(a)(6) of such Code regarding the taxable year with respect to which a contribution to a multiemployer pension plan is deemed made shall not be treated as a method of accounting of the taxpayer. No deduction shall be allowed for any taxable year for any contribution to a multiemployer pension plan with respect to which a deduction was previously allowed.“(b) The Secretary of the Treasury shall promulgate such regulations as necessary to clarify that a taxpayer shall not be allowed an aggregate amount of deductions for contributions to a multiemployer pension plan which exceeds the amount of such contributions made or deemed made under section 404(a)(6) of the Internal Revenue Code of 1986 to such plan.“(c) Subsection (a), and any regulations promulgated under subsection (b), shall be effective for years ending after the date of the enactment of this Act [
For provisions directing that if any amendments made by subtitle D [§§ 1401–1465] of title I of Pub. L. 104–188 require an amendment to any plan or annuity contract, such amendment shall not be required to be made before the first day of the first plan year beginning on or after
For provisions directing that if any amendments made by subtitle B [§§ 521–523] of title V of Pub. L. 102–318 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after
For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after
Pub. L. 98–369, div. A, title VII, § 713(d)(8),
Pub. L. 96–364, title IV, § 408, “(a) For purposes of subsection (g) of section 404 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] (relating to certain employer liability payments considered as contributions), as amended by section 205 of this Act, any payment made to a plan covering employees of a corporation operating a public transportation system shall be treated as a payment described in paragraph (1) of such subsection if—“(1) such payment is made to fund accrued benefits under the plan in conjunction with an acquisition by a State (or agency or instrumentality thereof) of the stock or assets of such corporation, and“(2) such acquisition is pursuant to a State public transportation law enacted after “(b) The provisions of this section shall apply to payments made after
Pub. L. 93–406, title II, § 1022(j), “Effective for taxable years beginning after “(1) an employer is engaged in a trade or business in a foreign country,“(2) such employer is required by the laws of that country to make payments, based on periods of service, to its employees or their beneficiaries after the employees’ retirement, death, or other separation from the service, and“(3) such employer establishes a trust (whether organized within or outside the United States) for the purpose of funding the payments required by such law,then, in determining for purposes of paragraph (5) of section 404(a) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] the taxable year in which any contribution to or under the plan is includible in the gross income of the nonresident alien employees of such employer, such paragraph (5) shall be treated as not requiring that separate accounts be maintained for such nonresident alien employees.”