Legal corpus: the complete U.S. Code (59,740 sections, all 53 titles)

Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code
now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 ->
59,740; repo total 105,704 records. Deterministic (byte-identical rerun,
verified on Title 42's 8,356 sections); make check green. make
legal-us-code default now covers every title.

Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>

legal/us/code/title-26/chapter-43/section-4974.md

@@ -0,0 +1,93 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4974"
+description: "Excise tax on certain accumulations in qualified retirement plans"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4974"
+citation: "26 U.S.C. § 4974"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4974"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "40ade2609ec32a6535c9773276ec798b277fb9f9ede6926f7fa21d26453cbc84"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "82272e682502862e359c6add4455bd95719a468a08584999f099aac02751c88e"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4974 - Excise tax on certain accumulations in qualified retirement plans
+
+## Text
+
+(a) General rule If the amount distributed during the taxable year of the payee under any qualified retirement plan or any eligible deferred compensation plan (as defined in section 457(b)) is less than the minimum required distribution for such taxable year, there is hereby imposed a tax equal to 25 percent of the amount by which such minimum required distribution exceeds the actual amount distributed during the taxable year. The tax imposed by this section shall be paid by the payee.
+
+(b) Minimum required distribution For purposes of this section, the term “minimum required distribution” means the minimum amount required to be distributed during a taxable year under section 401(a)(9), 403(b)(10), 408(a)(6), 408(b)(3), or 457(d)(2), as the case may be, as determined under regulations prescribed by the Secretary.
+
+(c) Qualified retirement plan For purposes of this section, the term “qualified retirement plan” means—
+
+(1) a plan described in section 401(a) which includes a trust exempt from tax under section 501(a),
+
+(2) an annuity plan described in section 403(a),
+
+(3) an annuity contract described in section 403(b),
+
+(4) an individual retirement account described in section 408(a), or
+
+(5) an individual retirement annuity described in section 408(b).
+
+Such term includes any plan, contract, account, or annuity which, at any time, has been determined by the Secretary to be such a plan, contract, account, or annuity.
+
+(d) Waiver of tax in certain cases If the taxpayer establishes to the satisfaction of the Secretary that—
+
+(1) the shortfall described in subsection (a) in the amount distributed during any taxable year was due to reasonable error, and
+
+(2) reasonable steps are being taken to remedy the shortfall,
+
+the Secretary may waive the tax imposed by subsection (a) for the taxable year.
+
+(e) Reduction of tax in certain cases (1) Reduction In the case of a taxpayer who—
+
+(A) receives a distribution, during the correction window, of the amount which resulted in imposition of a tax under subsection (a) from the same plan to which such tax relates, and
+
+(B) submits a return, during the correction window, reflecting such tax (as modified by this subsection),
+
+the first sentence of subsection (a) shall be applied by substituting “10 percent” for “25 percent”.
+
+(2) Correction window For purposes of this subsection, the term “correction window” means the period of time beginning on the date on which the tax under subsection (a) is imposed with respect to a shortfall of distributions from a plan described in subsection (a), and ending on the earliest of—
+
+(A) the date of mailing a notice of deficiency with respect to the tax imposed by subsection (a) under section 6212,
+
+(B) the date on which the tax imposed by subsection (a) is assessed, or
+
+(C) the last day of the second taxable year that begins after the end of the taxable year in which the tax under subsection (a) is imposed.
+
+(Added Pub. L. 93–406, title II, § 2002(e), Sept. 2, 1974, 88 Stat. 967; amended Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 95–600, title I, § 157(i)(1), Nov. 6, 1978, 92 Stat. 2808; Pub. L. 99–514, title XI, § 1121(a)(1), title XVIII, § 1852(a)(7)(B), (C), Oct. 22, 1986, 100 Stat. 2464, 2866; Pub. L. 117–328, div. T, title III, § 302(a), (b), Dec. 29, 2022, 136 Stat. 5339.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2022—Subsec. (a). Pub. L. 117–328, § 302(a), substituted “25 percent” for “50 percent”. Subsec. (e). Pub. L. 117–328, § 302(b), added subsec. (e). 1986—Pub. L. 99–514, § 1121(a)(1), amended section generally, substituting provisions imposing an excise tax on certain accumulations in qualified retirement plans for provisions imposing an excise tax on certain accumulations in individual retirement accounts and annuities. Subsec. (a). Pub. L. 99–514, § 1852(a)(7)(B), substituted “section 408(a)(6) or 408(b)(3)” for “section 408(a)(6) or (7), or 408(b)(3) or (4)”. Subsec. (b). Pub. L. 99–514, § 1852(a)(7)(C), substituted “section 408(a)(6) or 408(b)(3)” for “section 408(a)(6) or (7) or 408(b)(3) or (4)”. 1978—Subsec. (c). Pub. L. 95–600 added subsec. (c). 1976—Subsec. (b). Pub. L. 94–455 struck out “or his delegate” after “Secretary”.
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 2022 AmendmentPub. L. 117–328, div. T, title III, § 302(c), Dec. 29, 2022, 136 Stat. 5339, provided that: “The amendments made by this section [amending this section] shall apply to taxable years beginning after the date of the enactment of this Act [Dec. 29, 2022].”
+
+Effective Date of 1986 AmendmentAmendment by section 1121(a)(1) of Pub. L. 99–514 applicable to years beginning after Dec. 31, 1988, with special provisions for plans maintained pursuant to collective bargaining agreements ratified before Mar. 1, 1986, and transition rules, see section 1121(d) of Pub. L. 99–514, set out as a note under section 401 of this title. Amendment by section 1852(a)(7)(B), (C) 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.
+
+Effective Date of 1978 AmendmentPub. L. 95–600, title I, § 157(i)(2), Nov. 6, 1978, 92 Stat. 2809, provided that: “The amendment made by paragraph (1) [amending this section] shall apply to taxable years beginning after December 31, 1975.”
+
+Effective DateSection effective Jan. 1, 1975, see section 2002(i)(2) of Pub. L. 93–406, set out as an Effective Date note under section 4973 of this title.
+
+Plan Amendments Not Required Until January 1, 1989For 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 Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.

legal/us/code/title-26/chapter-43/section-4976.md

@@ -0,0 +1,79 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4976"
+description: "Taxes with respect to funded welfare benefit plans"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4976"
+citation: "26 U.S.C. § 4976"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4976"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "e5e1339281e44fdf4c912bfa163fc66eb7cbb5129dd992200a80ae3e2b960dee"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "8629d22a3b8c425e2307f5485ef441fecc6daad0ddb7c81abdfbf2ae7aadc9a8"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4976 - Taxes with respect to funded welfare benefit plans
+
+## Text
+
+(a) General rule If—
+
+(1) an employer maintains a welfare benefit fund, and
+
+(2) there is a disqualified benefit provided during any taxable year,
+
+there is hereby imposed on such employer a tax equal to 100 percent of such disqualified benefit.
+
+(b) Disqualified benefit For purposes of subsection (a)—
+
+(1) In general The term “disqualified benefit” means—
+
+(A) any post-retirement medical benefit or life insurance benefit provided with respect to a key employee if a separate account is required to be established for such employee under section 419A(d) and such payment is not from such account,
+
+(B) any post-retirement medical benefit or life insurance benefit provided with respect to an individual in whose favor discrimination is prohibited unless the plan meets the requirements of section 505(b) with respect to such benefit (whether or not such requirements apply to such plan), and
+
+(C) any portion of a welfare benefit fund reverting to the benefit of the employer.
+
+(2) Exception for collective bargaining plans Paragraph (1)(B) shall not apply to any plan maintained pursuant to an agreement between employee representatives and 1 or more employers if the Secretary finds that such agreement is a collective bargaining agreement and that the benefits referred to in paragraph (1)(B) were the subject of good faith bargaining between such employee representatives and such employer or employers.
+
+(3) Exception for nondeductible contributions Paragraph (1)(C) shall not apply to any amount attributable to a contribution to the fund which is not allowable as a deduction under section 419 for the taxable year or any prior taxable year (and such contribution shall not be included in any carryover under section 419(d)).
+
+(4) Exception for certain amounts charged against existing reserve Subparagraphs (A) and (B) of paragraph (1) shall not apply to post-retirement benefits charged against an existing reserve for post-retirement medical or life insurance benefits (as defined in section 512(a)(3)(E)) or charged against the income on such reserve.
+
+(c) Definitions For purposes of this section, the terms used in this section shall have the same respective meanings as when used in subpart D of part I of subchapter D of chapter 1.
+
+(Added Pub. L. 98–369, div. A, title V, § 511(c)(1), July 18, 1984, 98 Stat. 861; amended Pub. L. 99–514, title XVIII, § 1851(a)(11), Oct. 22, 1986, 100 Stat. 2861; Pub. L. 100–647, title I, § 1011B(a)(27)(A), (B), title III, § 3021(a)(1)(C), Nov. 10, 1988, 102 Stat. 3487, 3626; Pub. L. 101–140, title II, § 203(a)(2), Nov. 8, 1989, 103 Stat. 830.)
+
+## Notes
+
+Editorial Notes
+
+Codification Pub. L. 101–140 amended this section to read as if the amendments made by section 1011B(a)(27) of Pub. L. 100–647 (enacting subsec. (c)) had not been enacted. Subsequent to enactment by Pub. L. 100–647, subsec. (c) was amended by Pub. L. 100–647, § 3021(a)(1)(C). See 1988 Amendment note below.
+
+Amendments1989—Subsec. (b)(5). Pub. L. 101–140 amended subsec. (b) to read as if amendments by Pub. L. 100–647, § 1011B(a)(27)(B), had not been enacted, see 1988 Amendment note below. Subsecs. (c), (d). Pub. L. 101–140 amended this section to read as if amendments by Pub. L. 100–647, § 1011B(a)(27)(A), had not been enacted, see 1988 Amendment note below. 1988—Subsec. (b)(5). Pub. L. 100–647, § 1011B(a)(27)(B), added par. (5) relating to limitation in case of benefits to which section 89 applies. Subsec. (c). Pub. L. 100–647, § 1011B(a)(27)(A), added subsec. (c) relating to tax on funded welfare benefit funds which include discriminatory employee benefit plan. Former subsec. (c) redesignated (d). Subsec. (c)(1)(B). Pub. L. 100–647, § 3021(a)(1)(C)(i), substituted “any testing year (as defined in section 89(j)(13))” for “any plan year”, see Codification note above. Subsec. (c)(2)(A). Pub. L. 100–647, § 3021(a)(1)(C)(ii), substituted “testing” for “plan” in cls. (i) and (ii), see Codification note above. Subsec. (d). Pub. L. 100–647, § 1011B(a)(27)(A), redesignated former subsec. (c) as (d). 1986—Subsec. (b). Pub. L. 99–514 amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows: “For purposes of subsection (a), the term ‘disqualified benefit’ means— “(1) any medical benefit or life insurance benefit provided with respect to a key employee other than from a separate account established for such owner under section 419A(d), and “(2) any post-retirement medical or life insurance benefit unless the plan meets the requirements of section 505(b)(1) with respect to such benefit, and “(3) any portion of such fund reverting to the benefit of the employer.”
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 1989 AmendmentAmendment by Pub. L. 101–140 effective as if included in section 1151 of Pub. L. 99–514, see section 203(c) of Pub. L. 101–140, set out as a note under section 79 of this title.
+
+Effective Date of 1988 AmendmentAmendment by section 1011B(a)(27)(A), (B) 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. Amendment by section 3021(a)(1)(C) of Pub. L. 100–647 effective as if included in the amendments by section 1151 of Pub. L. 99–514, see section 3021(d)(1) of Pub. L. 100–647, set out as a note under section 129 of this title.
+
+Effective Date of 1986 AmendmentAmendment by 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.
+
+Effective DateSection applicable to benefits provided after Dec. 31, 1985, see section 511(e)(7) of Pub. L. 98–369, set out as a note under section 419 of this title.
+
+Plan Amendments Not Required Until January 1, 1989For 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 Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.

legal/us/code/title-26/chapter-43/section-4977.md

@@ -0,0 +1,77 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4977"
+description: "Tax on certain fringe benefits provided by an employer"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4977"
+citation: "26 U.S.C. § 4977"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4977"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "a49fab2fedfe4ec2761e59cb18c5f1264f2760c7b8352d46e89248a4458682af"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "9f0c8b4fb941406fa5875abba05b5ac36fd04ef75feaf192e629696da84d869a"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4977 - Tax on certain fringe benefits provided by an employer
+
+## Text
+
+(a) Imposition of tax In the case of an employer to whom an election under this section applies for any calendar year, there is hereby imposed a tax for such calendar year equal to 30 percent of the excess fringe benefits.
+
+(b) Excess fringe benefits For purposes of subsection (a), the term “excess fringe benefits” means, with respect to any calendar year—
+
+(1) the aggregate value of the fringe benefits provided by the employer during the calendar year which were not includible in gross income under paragraphs (1) and (2) of section 132(a), over
+
+(2) 1 percent of the aggregate amount of compensation—
+
+(A) which was paid by the employer during such calendar year to employees, and
+
+(B) was includible in gross income for purposes of chapter 1.
+
+(c) Effect of election on section 132(a) If—
+
+(1) an election under this section is in effect with respect to an employer for any calendar year, and
+
+(2) at all times on or after January 1, 1984, and before the close of the calendar year involved, substantially all of the employees of the employer were entitled to employee discounts on goods or services provided by the employer in 1 line of business,
+
+for purposes of paragraphs (1) and (2) of section 132(a) (but not for purposes of section 132(h)), all employees of any line of business of the employer which was in existence on January 1, 1984, shall be treated as employees of the line of business referred to in paragraph (2).
+
+(d) Period of election An election under this section shall apply to the calendar year for which made and all subsequent calendar years unless revoked by the employer.
+
+(e) Treatment of controlled groups All employees treated as employed by a single employer under subsection (b), (c), or (m) of section 414 shall be treated as employed by a single employer for purposes of this section.
+
+(f) Section to apply only to employment within the United States Except as otherwise provided in regulations, this section shall apply only with respect to employment within the United States.
+
+(Added Pub. L. 98–369, div. A, title V, § 531(e)(1), July 18, 1984, 98 Stat. 885; amended Pub. L. 99–514, title XVIII, § 1853(c)(1), (2), Oct. 22, 1986, 100 Stat. 2871; Pub. L. 103–66, title XIII, § 13213(d)(3)(D), Aug. 10, 1993, 107 Stat. 474; Pub. L. 104–188, title I, § 1704(t)(66), Aug. 20, 1996, 110 Stat. 1890.)
+
+## Notes
+
+Editorial Notes
+
+Amendments1996—Subsec. (c). Pub. L. 104–188 substituted “section 132(h)” for “section 132(i)(2)” in closing provisions. 1993—Subsec. (c). Pub. L. 103–66 substituted “section 132(i)(2)” for “section 132(g)(2)” in closing provisions. 1986—Subsec. (c)(2). Pub. L. 99–514, § 1853(c)(1), amended par. (2) generally. Prior to amendment, par. (2) read as follows: “as of January 1, 1984, substantially all of the employees of the employer were entitled to employee discounts or services provided by the employer in 1 line of business,”. Subsec. (f). Pub. L. 99–514, § 1853(c)(2), added subsec. (f).
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 1993 AmendmentAmendment by Pub. L. 103–66 applicable to reimbursements or other payments in respect of expenses incurred after Dec. 31, 1993, see section 13213(e) of Pub. L. 103–66, set out as a note under section 62 of this title.
+
+Effective Date of 1986 AmendmentAmendment by 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.
+
+Effective DateSection effective Jan. 1, 1985, see section 531(h) of Pub. L. 98–369, set out as a note under section 132 of this title.
+
+Plan Amendments Not Required Until January 1, 1989For 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 Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.
+
+Application of Subsection (c) of this Section to Agricultural Cooperatives Incorporated in 1964Pub. L. 99–514, title XVIII, § 1853(c)(3), Oct. 22, 1986, 100 Stat. 2871, provided that: “For purposes of determining whether the requirements of section 4977(c) of the Internal Revenue Code of 1954 [now 1986] are met in the case of an agricultural cooperative incorporated in 1964, there shall not be taken into account employees of a member of the same controlled group as such cooperative which became a member during July 1980.”

legal/us/code/title-26/chapter-43/section-4978.md

@@ -0,0 +1,113 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4978"
+description: "Tax on certain dispositions by employee stock ownership plans and certain cooperatives"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4978"
+citation: "26 U.S.C. § 4978"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4978"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "484c415ce06db65b0b04f97509889eb8a56ae1ad3fc84c638cb87695d925517d"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "d83f5d759eb68a3c895793593639c5a2490e719237de98520aa4bdac69103b36"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4978 - Tax on certain dispositions by employee stock ownership plans and certain cooperatives
+
+## Text
+
+(a) Tax on dispositions of securities to which section 1042 applies before close of minimum holding period If, during the 3-year period after the date on which the employee stock ownership plan or eligible worker-owned cooperative acquired any qualified securities in a sale to which section 1042 applied or acquired any qualified employer securities in a qualified gratuitous transfer to which section 664(g) applied, such plan or cooperative disposes of any qualified securities and—
+
+(1) the total number of shares held by such plan or cooperative after such disposition is less than the total number of employer securities held immediately after such sale, or
+
+(2) except to the extent provided in regulations, the value of qualified securities held by such plan or cooperative after such disposition is less than 30 percent of the total value of all employer securities as of such disposition (60 percent of the total value of all employer securities as of such disposition in the case of any qualified employer securities acquired in a qualified gratuitous transfer to which section 664(g) applied),
+
+there is hereby imposed a tax on the disposition equal to the amount determined under subsection (b).
+
+(b) Amount of tax (1) In general The amount of the tax imposed by subsection (a) shall be equal to 10 percent of the amount realized on the disposition.
+
+(2) Limitation The amount realized taken into account under paragraph (1) shall not exceed that portion allocable to qualified securities acquired in the sale to which section 1042 applied or acquired in the qualified gratuitous transfer to which section 664(g) applied determined as if such securities were disposed of—
+
+(A) first from qualified securities to which section 1042 applied or to which section 664(g) applied acquired during the 3-year period ending on the date of the disposition, beginning with the securities first so acquired, and
+
+(B) then from any other employer securities.
+
+If subsection (d) applies to a disposition, the disposition shall be treated as made from employer securities in the opposite order of the preceding sentence.
+
+(3) Distributions to employees The amount realized on any distribution to an employee for less than fair market value shall be determined as if the qualified security had been sold to the employee at fair market value.
+
+(c) Liability for payment of taxes The tax imposed by this subsection shall be paid by—
+
+(1) the employer, or
+
+(2) the eligible worker-owned cooperative,
+
+that made the written statement described in section 664(g)(1)(E) or in section 1042(b)(3) (as the case may be).
+
+(d) Section not to apply to certain dispositions (1) Certain distributions to employees This section shall not apply with respect to any distribution of qualified securities (or sale of such securities) which is made by reason of—
+
+(A) the death of the employee,
+
+(B) the retirement of the employee after the employee has attained 59½ years of age,
+
+(C) the disability of the employee (within the meaning of section 72(m)(7)), or
+
+(D) the separation of the employee from service for any period which results in a 1-year break in service (within the meaning of section 411(a)(6)(A)).
+
+(2) Certain reorganizations In the case of any exchange of qualified securities in any reorganization described in section 368(a)(1) for stock of another corporation, such exchange shall not be treated as a disposition for purposes of this section.
+
+(3) Liquidation of corporation into cooperative In the case of any exchange of qualified securities pursuant to the liquidation of the corporation issuing qualified securities into the eligible worker-owned cooperative in a transaction which meets the requirements of section 332 (determined by substituting “100 percent” for “80 percent” each place it appears in section 332(b)(1)), such exchange shall not be treated as a disposition for purposes of this section.
+
+(4) Dispositions to meet diversification requirements This section shall not apply to any disposition of qualified securities which is required under section 401(a)(28).
+
+(e) Definitions and special rules For purposes of this section—
+
+(1) Employee stock ownership plan The term “employee stock ownership plan” has the meaning given to such term by section 4975(e)(7).
+
+(2) Qualified securities The term “qualified securities” has the meaning given to such term by section 1042(c)(1); except that such section shall be applied without regard to subparagraph (B) thereof for purposes of applying this section and section 4979A with respect to securities acquired in a qualified gratuitous transfer (as defined in section 664(g)(1)).
+
+(3) Eligible worker-owned cooperative The term “eligible worker-owned cooperative” has the meaning given to such term by section 1042(c)(2).
+
+(4) Disposition The term “disposition” includes any distribution.
+
+(5) Employer securities The term “employer securities” has the meaning given to such term by section 409(l).
+
+(Added Pub. L. 98–369, div. A, title V, § 545(a), July 18, 1984, 98 Stat. 894; amended Pub. L. 99–514, title XVIII, § 1854(e), Oct. 22, 1986, 100 Stat. 2880; Pub., L. 100–203, title X, § 10413(b)(1), Dec. 22, 1987, 101 Stat. 1330–438; Pub. L. 100–647, title I, § 1011B(j)(4), Nov. 10, 1988, 102 Stat. 3492; Pub. L. 101–239, title VII, § 7304(a)(2)(C)(ii), Dec. 19, 1989, 103 Stat. 2353; Pub. L. 104–188, title I, § 1602(b)(4), Aug. 20, 1996, 110 Stat. 1834; Pub. L. 105–34, title XV, § 1530(c)(11)–(14), Aug. 5, 1997, 111 Stat. 1079; Pub. L. 108–311, title IV, § 408(a)(23), Oct. 4, 2004, 118 Stat. 1192.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2004—Subsec. (a)(2). Pub. L. 108–311 substituted “(60 percent” for “60 percent”. 1997—Subsec. (a). Pub. L. 105–34, § 1530(c)(11)(A), inserted “or acquired any qualified employer securities in a qualified gratuitous transfer to which section 664(g) applied” after “section 1042 applied” in introductory provisions. Subsec. (a)(2). Pub. L. 105–34, § 1530(c)(11)(B), inserted before comma at end “60 percent of the total value of all employer securities as of such disposition in the case of any qualified employer securities acquired in a qualified gratuitous transfer to which section 664(g) applied)”. Subsec. (b)(2). Pub. L. 105–34, § 1530(c)(12)(A), inserted “or acquired in the qualified gratuitous transfer to which section 664(g) applied” after “section 1042 applied” in introductory provisions. Subsec. (b)(2)(A). Pub. L. 105–34, § 1530(c)(12)(B), inserted “or to which section 664(g) applied” after “section 1042 applied”. Subsec. (c). Pub. L. 105–34, § 1530(c)(13), substituted “written statement described in section 664(g)(1)(E) or in section 1042(b)(3) (as the case may be)” for “written statement described in section 1042(b)(3)”. Subsec. (e)(2). Pub. L. 105–34, § 1530(c)(14), inserted before period at end “; except that such section shall be applied without regard to subparagraph (B) thereof for purposes of applying this section and section 4979A with respect to securities acquired in a qualified gratuitous transfer (as defined in section 664(g)(1))”. 1996—Subsec. (b)(2). Pub. L. 104–188 added subpars. (A) and (B) and closing provisions and struck out former subpars. (A) to (D) and closing provisions which read as follows: “(A) first, from section 133 securities (as defined in section 4978B(e)(2)) acquired during the 3-year period ending on the date of such disposition, beginning with the securities first so acquired. “(B) second, from section 133 securities (as so defined) acquired before such 3-year period unless such securities (or proceeds from the disposition) have been allocated to accounts of participants or beneficiaries. “(C) third, from qualified securities to which section 1042 applied acquired during the 3-year period ending on the date of the disposition, beginning with the securities first so acquired, and “(D) then from any other employer securities. If subsection (d) or section 4978B(d) applies to a disposition, the disposition shall be treated as made from employer securities in the opposite order of the preceding sentence.” 1989—Subsec. (b)(2). Pub. L. 101–239 substituted “determined as if such securities were disposed of—”, subpars. (A) to (D), and concluding provision for “(determined as if such securities were disposed of in the order described in section 4978A(e))”. 1988—Subsec. (d)(4). Pub. L. 100–647 added par. (4). 1987—Subsec. (b)(2). Pub. L. 100–203 substituted “(determined as if such securities were disposed of in the order described in section 4978A(e))” for “(determined as if such securities were disposed of before any other securities)”. 1986—Subsec. (a)(1). Pub. L. 99–514, § 1854(e)(1), substituted “than” for “then”. Subsec. (b)(1). Pub. L. 99–514, § 1854(e)(2), substituted “subsection (a)” for “paragraph (1)”. Subsec. (c). Pub. L. 99–514, § 1854(e)(3), substituted “section 1042(b)(3)” for “section 1042(a)(2)(B)”. Subsec. (d)(1)(C). Pub. L. 99–514, § 1854(e)(4), substituted “section 72(m)(7)” for “section 72(m)(5)”. Subsec. (d)(3). Pub. L. 99–514, § 1854(e)(7), added par. (3). Subsec. (e)(2). Pub. L. 99–514, § 1854(e)(5), substituted “section 1042(c)(1)” for “section 1042(b)(1)”. Subsec. (e)(3). Pub. L. 99–514, § 1854(e)(6), substituted “section 1042(c)(2)” for “section 1042(b)(1)”.
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 1997 AmendmentAmendment by Pub. L. 105–34 applicable to transfers made by trusts to, or for the use of, an employee stock ownership plan after Aug. 5, 1997, see section 1530(d) of Pub. L. 105–34, set out as a note under section 401 of this title.
+
+Effective Date of 1996 AmendmentAmendment by section 1602(b)(1) of Pub. L. 104–188 applicable to loans made after Aug. 20, 1996, with exception and provisions relating to certain refinancings, see section 1602(c) of Pub. L. 104–188, set out as an Effective Date of Repeal note under former section 133 of this title.
+
+Effective Date of 1989 AmendmentAmendment by Pub. L. 101–239 applicable to estates of decedents dying after Dec. 19, 1989, see section 7304(a)(3) of Pub. L. 101–239, set out as a note under section 409 of this title.
+
+Effective Date of 1988 AmendmentAmendment by 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.
+
+Effective Date of 1987 AmendmentPub. L. 100–203, title X, § 10413(c), Dec. 22, 1987, 101 Stat. 1330–438, provided that: “The amendments made by this section [enacting section 4978A of this title and amending this section] shall apply to taxable events (within the meaning of section 4978A(c) of the Internal Revenue Code of 1986) occurring after February 26, 1987.”
+
+Effective Date of 1986 AmendmentAmendment by 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.
+
+Effective DatePub. L. 98–369, div. A, title V, § 545(c), July 18, 1984, 98 Stat. 896, provided that: “The amendments made by this section [enacting this section] shall apply to taxable years beginning after the date of enactment of this Act [July 18, 1984].”
+
+Plan Amendments Not Required Until January 1, 1989For 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 Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.

legal/us/code/title-26/chapter-43/section-4978a.md

@@ -0,0 +1,37 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4978A"
+description: "Repealed. Pub. L. 101–239, title VII, § 7304(a)(2)(C)(i), Dec. 19, 1989, 103 Stat. 2353]"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4978A"
+citation: "26 U.S.C. § 4978A"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4978A"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "dae0c10ecd708e8e21ca1cee9588ba3526a1493c2e98836af95d063cab34adb9"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "5a5827515250a51cb50121023dca7864da21ae4968bc7452099ffd3aeb5930ff"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4978A - Repealed. Pub. L. 101–239, title VII, § 7304(a)(2)(C)(i), Dec. 19, 1989, 103 Stat. 2353]
+
+## Notes
+
+Section, added Pub. L. 100–203, title X, § 10413(a), Dec. 22, 1987, 101 Stat. 1330–436; amended Pub. L. 100–647, title VI, § 6060(a), Nov. 10, 1988, 102 Stat. 3699, related to tax on certain dispositions of employer securities to which section 2057 applied.
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of RepealRepeal applicable to estates of decedents dying after Dec. 19, 1989, see section 7304(a)(3) of Pub. L. 101–239, set out as an Effective Date of 1989 Amendment note under section 409 of this title.

legal/us/code/title-26/chapter-43/section-4978b.md

@@ -0,0 +1,37 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4978B"
+description: "Repealed. Pub. L. 104–188, title I, § 1602(b)(5)(A), Aug. 20, 1996, 110 Stat. 1834]"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4978B"
+citation: "26 U.S.C. § 4978B"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4978B"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "8cfab8379b9de56ee4eb4e193ae979a194dcd0c618cc66239f8c3fd0746b9811"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "12fedace07e2470385f3e241006ca4f366001499ecbd5b7281f6f59388e1a1b3"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4978B - Repealed. Pub. L. 104–188, title I, § 1602(b)(5)(A), Aug. 20, 1996, 110 Stat. 1834]
+
+## Notes
+
+Section, added Pub. L. 101–239, title VII, § 7301(d)(1), Dec. 19, 1989, 103 Stat. 2347; amended Pub. L. 101–508, title XI, § 11701(e), Nov. 5, 1990, 104 Stat. 1388–507, related to tax on disposition of employer securities to which former section 133 of this title applied.
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of RepealRepeal applicable to loans made after Aug. 20, 1996, with exception and provisions relating to certain refinancings, see section 1602(c) of Pub. L. 104–188, set out as a note under former section 133 of this title.

legal/us/code/title-26/chapter-43/section-4979.md

@@ -0,0 +1,81 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4979"
+description: "Tax on certain excess contributions"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4979"
+citation: "26 U.S.C. § 4979"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4979"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "1b8c03d0a0ea73f1494d95d87ba215c08bf1aeca63580f17a44e2f9f0da7f38e"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "319f4c2b2d01503087aa8e61c82d2e5b2d83d08761dda8f4de6dd28107278eae"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4979 - Tax on certain excess contributions
+
+## Text
+
+(a) General rule In the case of any plan, there is hereby imposed a tax for the taxable year equal to 10 percent of the sum of—
+
+(1) any excess contributions under such plan for the plan year ending in such taxable year, and
+
+(2) any excess aggregate contributions under the plan for the plan year ending in such taxable year.
+
+(b) Liability for tax The tax imposed by subsection (a) shall be paid by the employer.
+
+(c) Excess contributions For purposes of this section, the term “excess contributions” has the meaning given such term by sections 401(k)(8)(B), 408(k)(6)(C), and 501(c)(18).
+
+(d) Excess aggregate contribution For purposes of this section, the term “excess aggregate contribution” has the meaning given to such term by section 401(m)(6)(B). For purposes of determining excess aggregate contributions under an annuity contract described in section 403(b), such contract shall be treated as a plan described in subsection (e)(1).
+
+(e) Plan For purposes of this section, the term “plan” means—
+
+(1) a plan described in section 401(a) which includes a trust exempt from tax under section 501(a),
+
+(2) any annuity plan described in section 403(a),
+
+(3) any annuity contract described in section 403(b),
+
+(4) a simplified employee pension of an employer which satisfies the requirements of section 408(k), and
+
+(5) a plan described in section 501(c)(18).
+
+Such term includes any plan which, at any time, has been determined by the Secretary to be such a plan.
+
+(f) No tax where excess distributed within specified period after close of year (1) In general No tax shall be imposed under this section on any excess contribution or excess aggregate contribution, as the case may be, to the extent such contribution (together with any income allocable thereto through the end of the plan year for which the contribution was made) is distributed (or, if forfeitable, is forfeited) before the close of the first 2½ months (6 months in the case of an excess contribution or excess aggregate contribution to an eligible automatic contribution arrangement (as defined in section 414(w)(3))) of the following plan year.
+
+(2) Year of inclusion Any amount distributed as provided in paragraph (1) shall be treated as earned and received by the recipient in the recipient’s taxable year in which such distributions were made.
+
+(Added Pub. L. 99–514, title XI, § 1117(b)(1), Oct. 22, 1986, 100 Stat. 2461; amended Pub. L. 100–647, title I, § 1011(l)(8)–(11), Nov. 10, 1988, 102 Stat. 3470, 3471; Pub. L. 109–280, title IX, § 902(e)(1)–(3)(A), Aug. 17, 2006, 120 Stat. 1038.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2006—Subsec. (f). Pub. L. 109–280, § 902(e)(1)(B), substituted “specified period after” for “2½ months of” in heading. Subsec. (f)(1). Pub. L. 109–280, § 902(e)(1)(A), (3)(A), inserted “through the end of the plan year for which the contribution was made” after “thereto” and “(6 months in the case of an excess contribution or excess aggregate contribution to an eligible automatic contribution arrangement (as defined in section 414(w)(3)))” after “2½ months”. Subsec. (f)(2). Pub. L. 109–280, § 902(e)(2), reenacted heading without change and amended text of par. (2) generally. Prior to amendment, text read as follows: “(A) In general.—Except as provided in subparagraph (B), any amount distributed as provided in paragraph (1) shall be treated as received and earned by the recipient in his taxable year for which such contribution was made. “(B) De minimis distributions.—If the total excess contributions and excess aggregate contributions distributed to a recipient under a plan for any plan year are less than $100, such distributions (and any income allocable thereto) shall be treated as earned and received by the recipient in his taxable year in which such distributions were made.” 1988—Subsec. (a)(1). Pub. L. 100–647, § 1011(l)(8), struck out “a cash or deferred arrangement which is part of” after “contributions under”. Subsec. (c). Pub. L. 100–647, § 1011(l)(9), struck out “403(b),” and substituted “408(k)(6)(C)” for “408(k)(8)(B)”. Subsec. (d). Pub. L. 100–647, § 1011(l)(10), inserted sentence at end relating to determination of excess aggregate contributions under certain annuity contracts. Subsec. (f)(2). Pub. L. 100–647, § 1011(l)(11), substituted “Year of inclusion” for “Included in prior year” as heading, and amended text generally. Prior to amendment, text read as follows: “Any amount distributed as provided in paragraph (1) shall be treated as received and earned by the recipient in his taxable year for which such contribution was made.”
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 2006 AmendmentAmendment by Pub. L. 109–280 applicable to plan years beginning after Dec. 31, 2007, see section 902(g) of Pub. L. 109–280, set out as a note under section 401 of this title.
+
+Effective Date of 1988 AmendmentAmendment by 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.
+
+Effective DateSection applicable to plan years beginning after Dec. 31, 1986, with special provisions for plans maintained pursuant to collective bargaining agreements ratified before Mar. 1, 1986, and for annuity contracts under section 403(b) of this title, see section 1117(d) of Pub. L. 99–514, set out as an Effective Date of 1986 Amendment note under section 401 of this title.
+
+RegulationsSecretary of the Treasury or his delegate to issue before Feb. 1, 1988, final regulations to carry out this section, see section 1141 of Pub. L. 99–514, set out as a note under section 401 of this title.
+
+Plan Amendments Not Required Until January 1, 1989For 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 Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.

legal/us/code/title-26/chapter-43/section-4979a.md

@@ -0,0 +1,105 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4979A"
+description: "Tax on certain prohibited allocations of qualified securities"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4979A"
+citation: "26 U.S.C. § 4979A"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4979A"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "da5f6fff1325b91e3fa15d9cf15a2ba02d505289c2782532c9488d222fbfde2c"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "a41a63b3f5ee264683069fe7970dc41b67904ddb19e6c63e1dc7e6110de71f6b"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4979A - Tax on certain prohibited allocations of qualified securities
+
+## Text
+
+(a) Imposition of tax If—
+
+(1) there is a prohibited allocation of qualified securities by any employee stock ownership plan or eligible worker-owned cooperative,
+
+(2) there is an allocation described in section 664(g)(5)(A),
+
+(3) there is any allocation of employer securities which violates the provisions of section 409(p), or a nonallocation year described in subsection (e)(2)(C) with respect to an employee stock ownership plan, or
+
+(4) any synthetic equity is owned by a disqualified person in any nonallocation year,
+
+there is hereby imposed a tax on such allocation or ownership equal to 50 percent of the amount involved.
+
+(b) Prohibited allocation For purposes of this section, the term “prohibited allocation” means—
+
+(1) any allocation of qualified securities acquired in a sale to which section 1042 applies which violates the provisions of section 409(n), and
+
+(2) any benefit which accrues to any person in violation of the provisions of section 409(n).
+
+(c) Liability for tax The tax imposed by this section shall be paid—
+
+(1) in the case of an allocation referred to in paragraph (1) or (2) of subsection (a), by—
+
+(A) the employer sponsoring such plan, or
+
+(B) the eligible worker-owned cooperative,
+
+which made the written statement described in section 664(g)(1)(E) or in section 1042(b)(3)(B) (as the case may be), and
+
+(2) in the case of an allocation or ownership referred to in paragraph (3) or (4) of subsection (a), by the S corporation the stock in which was so allocated or owned.
+
+(d) Special statute of limitations for tax attributable to certain allocations The statutory period for the assessment of any tax imposed by this section on an allocation described in subsection (a)(2) of qualified employer securities shall not expire before the date which is 3 years from the later of—
+
+(1) the 1st allocation of such securities in connection with a qualified gratuitous transfer (as defined in section 664(g)(1)), or
+
+(2) the date on which the Secretary is notified of the allocation described in subsection (a)(2).
+
+(e) Definitions and special rules For purposes of this section—
+
+(1) Definitions Except as provided in paragraph (2), terms used in this section have the same respective meanings as when used in sections 409 and 4978.
+
+(2) Special rules relating to tax imposed by reason of paragraph (3) or (4) of subsection (a) (A) Prohibited allocations The amount involved with respect to any tax imposed by reason of subsection (a)(3) is the amount allocated to the account of any person in violation of section 409(p)(1).
+
+(B) Synthetic equity The amount involved with respect to any tax imposed by reason of subsection (a)(4) is the value of the shares on which the synthetic equity is based.
+
+(C) Special rule during first nonallocation year For purposes of subparagraph (A), the amount involved for the first nonallocation year of any employee stock ownership plan shall be determined by taking into account the total value of all the deemed-owned shares of all disqualified persons with respect to such plan.
+
+(D) Statute of limitations The statutory period for the assessment of any tax imposed by this section by reason of paragraph (3) or (4) of subsection (a) shall not expire before the date which is 3 years from the later of—
+
+(i) the allocation or ownership referred to in such paragraph giving rise to such tax, or
+
+(ii) the date on which the Secretary is notified of such allocation or ownership.
+
+(Added and amended Pub. L. 99–514, title XI, § 1172(b)(2), title XVIII, § 1854(a)(9)(A), Oct. 22, 1986, 100 Stat. 2514, 2877; Pub. L. 101–239, title VII, § 7304(a)(2)(D), Dec. 19, 1989, 103 Stat. 2353; Pub. L. 104–188, title I, § 1704(t)(22), Aug. 20, 1996, 110 Stat. 1888; Pub. L. 105–34, title XV, § 1530(c)(15)–(17), Aug. 5, 1997, 111 Stat. 1079, 1080; Pub. L. 107–16, title VI, § 656(c), June 7, 2001, 115 Stat. 134.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2001—Subsec. (a). Pub. L. 107–16, § 656(c)(1), added pars. (3) and (4) and, in concluding provisions, substituted “there is hereby imposed a tax on such allocation or ownership equal to 50 percent of the amount involved.” for “there is hereby imposed a tax on such allocation equal to 50 percent of the amount involved.” Subsec. (c). Pub. L. 107–16, § 656(c)(2), amended heading and text of subsec. (c) generally. Prior to amendment, text read as follows: “The tax imposed by this section shall be paid by— “(1) the employer sponsoring such plan, or “(2) the eligible worker-owned cooperative, which made the written statement described in section 664(g)(1)(E) or in section 1042(b)(3)(B) (as the case may be).” Subsec. (e). Pub. L. 107–16, § 656(c)(3), amended heading and text of subsec. (e) generally. Prior to amendment, text read as follows: “Terms used in this section have the same respective meaning as when used in section 4978.” 1997—Subsec. (a). Pub. L. 105–34, § 1530(c)(15), amended heading and text of subsec. (a) generally. Prior to amendment, text read as follows: “If there is a prohibited allocation of qualified securities by any employee stock ownership plan or eligible worker-owned cooperative, there is hereby imposed a tax on such allocation equal to 50 percent of the amount involved.” Subsec. (c). Pub. L. 105–34, § 1530(c)(16), amended heading and text of subsec. (c) generally. Prior to amendment, text read as follows: “The tax imposed by this section shall be paid by— “(1) the employer sponsoring such plan, or “(2) the eligible worker-owned cooperative, which made the written statement described in section 1042(b)(3)(B).” Subsecs. (d), (e). Pub. L. 105–34, § 1530(c)(17), added subsec. (d) and redesignated former subsec. (d) as (e). 1996—Subsec. (c). Pub. L. 104–188 amended directory language of Pub. L. 101–239, § 7304(a)(2)(D)(ii). See 1989 Amendment note below. 1989—Subsec. (b)(1). Pub. L. 101–239, § 7304(a)(2)(D)(i), struck out “or section 2057” after “section 1042”. Subsec. (c). Pub. L. 101–239, § 7304(a)(2)(D)(ii), as amended by Pub. L. 104–188, struck out “or section 2057(d)” after “section 1042(b)(3)(B)” in concluding provisions. 1986—Subsec. (b)(1). Pub. L. 99–514, § 1172(b)(2)(A), inserted reference to section 2057. Subsec. (c). Pub. L. 99–514, § 1172(b)(2)(B), inserted reference to section 2057(d).
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 2001 AmendmentAmendment by Pub. L. 107–16 applicable to plan years beginning after Dec. 31, 2004, except that in the case of any employee stock ownership plan established after Mar. 14, 2001, or established on or before such date if employer securities held by the plan consist of stock in a corporation with respect to which an election under section 1362(a) of this title is not in effect on such date, amendment applicable to plan years ending after Mar. 14, 2001, see section 656(d) of Pub. L. 107–16, set out as a note under section 409 of this title.
+
+Effective Date of 1997 AmendmentAmendment by Pub. L. 105–34 applicable to transfers made by trusts to, or for the use of, an employee stock ownership plan after Aug. 5, 1997, see section 1530(d) of Pub. L. 105–34, set out as a note under section 401 of this title.
+
+Effective Date of 1989 AmendmentAmendment by Pub. L. 101–239 applicable to estates of decedents dying after Dec. 19, 1989, see section 7304(a)(3) of Pub. L. 101–239, set out as a note under section 409 of this title.
+
+Effective Date of 1986 AmendmentAmendment by section 1172(b)(2) of Pub. L. 99–514 applicable to sales after Oct. 22, 1986, with respect to which election is made by executor of an estate who is required to file the return of the tax imposed by this title on a date (including extensions) after Oct. 22, 1986, see section 1172(c) of Pub. L. 99–514, set out as a note under section 409 of this title.
+
+Effective DatePub. L. 99–514, title XVIII, § 1854(a)(9)(D), Oct. 22, 1986, 100 Stat. 2878, provided that: “The amendments made by this paragraph [enacting this section and amending section 1042 of this title] shall apply to sales of securities after the date of the enactment of this Act [Oct. 22, 1986].”
+
+Plan Amendments Not Required Until January 1, 1989For 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 Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.

legal/us/code/title-26/chapter-43/section-4980.md

@@ -0,0 +1,215 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4980"
+description: "Tax on reversion of qualified plan assets to employer"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4980"
+citation: "26 U.S.C. § 4980"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4980"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "4e43477f5793deb5772ec0b47f9d131e661bd7207fb3e35f2cbbc036e4395f80"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "6e095e6f066bf5abc65b239cadeeb4a8316ef1346173bc24b4e72a7ba6e7d3fb"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4980 - Tax on reversion of qualified plan assets to employer
+
+## Text
+
+(a) Imposition of tax There is hereby imposed a tax of 20 percent of the amount of any employer reversion from a qualified plan.
+
+(b) Liability for tax The tax imposed by subsection (a) shall be paid by the employer maintaining the plan.
+
+(c) Definitions and special rules For purposes of this section—
+
+(1) Qualified plan The term “qualified plan” means any plan meeting the requirements of section 401(a) or 403(a), other than—
+
+(A) a plan maintained by an employer if such employer has, at all times, been exempt from tax under subtitle A, or
+
+(B) a governmental plan (within the meaning of section 414(d)).
+
+Such term shall include any plan which, at any time, has been determined by the Secretary to be a qualified plan.
+
+(2) Employer reversion (A) In general The term “employer reversion” means the amount of cash and the fair market value of other property received (directly or indirectly) by an employer from the qualified plan.
+
+(B) Exceptions The term “employer reversion” shall not include—
+
+(i) except as provided in regulations, any amount distributed to or on behalf of any employee (or his beneficiaries) if such amount could have been so distributed before termination of such plan without violating any provision of section 401,
+
+(ii) any distribution to the employer which is allowable under section 401(a)(2)—
+
+(I) in the case of a multiemployer plan, by reason of mistakes of law or fact or the return of any withdrawal liability payment,
+
+(II) in the case of a plan other than a multiemployer plan, by reason of mistake of fact, or
+
+(III) in the case of any plan, by reason of the failure of the plan to initially qualify or the failure of contributions to be deductible, or
+
+(iii) any transfer described in section 420(f)(2)(B)(ii)(II).
+
+(3) Exception for employee stock ownership plans (A) In general If, upon an employer reversion from a qualified plan, any applicable amount is transferred from such plan to an employee stock ownership plan described in section 4975(e)(7) or a tax credit employee stock ownership plan (as described in section 409), such amount shall not be treated as an employer reversion for purposes of this section (or includible in the gross income of the employer) if the requirements of subparagraphs (B), (C), and (D) are met.
+
+(B) Investment in employer securities The requirements of this subparagraph are met if, within 90 days after the transfer (or such longer period as the Secretary may prescribe), the amount transferred is invested in employer securities (as defined in section 409(l)) or used to repay loans used to purchase such securities.
+
+(C) Allocation requirements The requirements of this subparagraph are met if the portion of the amount transferred which is not allocated under the plan to accounts of participants in the plan year in which the transfer occurs—
+
+(i) is credited to a suspense account and allocated from such account to accounts of participants no less rapidly than ratably over a period not to exceed 7 years, and
+
+(ii) when allocated to accounts of participants under the plan, is treated as an employer contribution for purposes of section 415(c), except that—
+
+(I) the annual addition (as determined under section 415(c)) attributable to each such allocation shall not exceed the value of such securities as of the time such securities were credited to such suspense account, and
+
+(II) no additional employer contributions shall be permitted to an employee stock ownership plan described in subparagraph (A) of the employer before the allocation of such amount.
+
+The amount allocated in the year of transfer shall not be less than the lesser of the maximum amount allowable under section 415 or ⅛ of the amount attributable to the securities acquired. In the case of dividends on securities held in the suspense account, the requirements of this subparagraph are met only if the dividends are allocated to accounts of participants or paid to participants in proportion to their accounts, or used to repay loans used to purchase employer securities.
+
+(D) Participants The requirements of this subparagraph are met if at least half of the participants in the qualified plan are participants in the employee stock ownership plan (as of the close of the 1st plan year for which an allocation of the securities is required).
+
+(E) Applicable amount For purposes of this paragraph, the term “applicable amount” means any amount which—
+
+(i) is transferred after March 31, 1985, and before January 1, 1989, or
+
+(ii) is transferred after December 31, 1988, pursuant to a termination which occurs after March 31, 1985, and before January 1, 1989.
+
+(F) No credit or deduction allowed No credit or deduction shall be allowed under chapter 1 for any amount transferred to an employee stock ownership plan in a transfer to which this paragraph applies.
+
+(G) Amount transferred to include income thereon, etc. The amount transferred shall not be treated as meeting the requirements of subparagraphs (B) and (C) unless amounts attributable to such amount also meet such requirements.
+
+(4) Time for payment of tax For purposes of subtitle F, the time for payment of the tax imposed by subsection (a) shall be the last day of the month following the month in which the employer reversion occurs.
+
+(d) Increase in tax for failure to establish replacement plan or increase benefits (1) In general Subsection (a) shall be applied by substituting “50 percent” for “20 percent” with respect to any employer reversion from a qualified plan unless—
+
+(A) the employer establishes or maintains a qualified replacement plan, or
+
+(B) the plan provides benefit increases meeting the requirements of paragraph (3).
+
+(2) Qualified replacement plan For purposes of this subsection, the term “qualified replacement plan” means a qualified plan established or maintained by the employer in connection with a qualified plan termination (hereinafter referred to as the “replacement plan”) with respect to which the following requirements are met:
+
+(A) Participation requirement At least 95 percent of the active participants in the terminated plan who remain as employees of the employer after the termination are active participants in the replacement plan.
+
+(B) Asset transfer requirement (i) 25 percent cushion A direct transfer from the terminated plan to the replacement plan is made before any employer reversion, and the transfer is in an amount equal to the excess (if any) of—
+
+(I) 25 percent of the maximum amount which the employer could receive as an employer reversion without regard to this subsection, over
+
+(II) the amount determined under clause (ii).
+
+(ii) Reduction for increase in benefits The amount determined under this clause is an amount equal to the present value of the aggregate increases in the accrued benefits under the terminated plan of any participants or beneficiaries pursuant to a plan amendment which—
+
+(I) is adopted during the 60-day period ending on the date of termination of the qualified plan, and
+
+(II) takes effect immediately on the termination date.
+
+(iii) Treatment of amount transferred In the case of the transfer of any amount under clause (i)—
+
+(I) such amount shall not be includible in the gross income of the employer,
+
+(II) no deduction shall be allowable with respect to such transfer, and
+
+(III) such transfer shall not be treated as an employer reversion for purposes of this section.
+
+(C) Allocation requirements (i) In general In the case of any defined contribution plan, the portion of the amount transferred to the replacement plan under subparagraph (B)(i) is—
+
+(I) allocated under the plan to the accounts of participants in the plan year in which the transfer occurs, or
+
+(II) credited to a suspense account and allocated from such account to accounts of participants no less rapidly than ratably over the 7-plan-year period beginning with the year of the transfer.
+
+(ii) Coordination with section 415 limitation If, by reason of any limitation under section 415, any amount credited to a suspense account under clause (i)(II) may not be allocated to a participant before the close of the 7-year period under such clause—
+
+(I) such amount shall be allocated to the accounts of other participants, and
+
+(II) if any portion of such amount may not be allocated to other participants by reason of any such limitation, shall be allocated to the participant as provided in section 415.
+
+(iii) Treatment of income Any income on any amount credited to a suspense account under clause (i)(II) shall be allocated to accounts of participants no less rapidly than ratably over the remainder of the period determined under such clause (after application of clause (ii)).
+
+(iv) Unallocated amounts at termination If any amount credited to a suspense account under clause (i)(II) is not allocated as of the termination date of the replacement plan—
+
+(I) such amount shall be allocated to the accounts of participants as of such date, except that any amount which may not be allocated by reason of any limitation under section 415 shall be allocated to the accounts of other participants, and
+
+(II) if any portion of such amount may not be allocated to other participants under subclause (I) by reason of such limitation, such portion shall be treated as an employer reversion to which this section applies.
+
+(3) Pro rata benefit increases (A) In general The requirements of this paragraph are met if a plan amendment to the terminated plan is adopted in connection with the termination of the plan which provides pro rata increases in the accrued benefits of all qualified participants which—
+
+(i) have an aggregate present value not less than 20 percent of the maximum amount which the employer could receive as an employer reversion without regard to this subsection, and
+
+(ii) take effect immediately on the termination date.
+
+(B) Pro rata increase For purposes of subparagraph (A), a pro rata increase is an increase in the present value of the accrued benefit of each qualified participant in an amount which bears the same ratio to the aggregate amount determined under subparagraph (A)(i) as—
+
+(i) the present value of such participant’s accrued benefit (determined without regard to this subsection), bears to
+
+(ii) the aggregate present value of accrued benefits of the terminated plan (as so determined).
+
+Notwithstanding the preceding sentence, the aggregate increases in the present value of the accrued benefits of qualified participants who are not active participants shall not exceed 40 percent of the aggregate amount determined under subparagraph (A)(i) by substituting “equal to” for “not less than”.
+
+(4) Coordination with other provisions (A) Limitations A benefit may not be increased under paragraph (2)(B)(ii) or (3)(A), and an amount may not be allocated to a participant under paragraph (2)(C), if such increase or allocation would result in a failure to meet any requirement under section 401(a)(4) or 415.
+
+(B) Treatment as employer contributions Any increase in benefits under paragraph (2)(B)(ii) or (3)(A), or any allocation of any amount (or income allocable thereto) to any account under paragraph (2)(C), shall be treated as an annual benefit or annual addition for purposes of section 415.
+
+(C) 10-year participation requirement Except as provided by the Secretary, section 415(b)(5)(D) shall not apply to any increase in benefits by reason of this subsection to the extent that the application of this subparagraph does not discriminate in favor of highly compensated employees (as defined in section 414(q)).
+
+(5) Definitions and special rules For purposes of this subsection—
+
+(A) Qualified participant The term “qualified participant” means an individual who—
+
+(i) is an active participant,
+
+(ii) is a participant or beneficiary in pay status as of the termination date,
+
+(iii) is a participant not described in clause (i) or (ii)—
+
+(I) who has a nonforfeitable right to an accrued benefit under the terminated plan as of the termination date, and
+
+(II) whose service, which was creditable under the terminated plan, terminated during the period beginning 3 years before the termination date and ending with the date on which the final distribution of assets occurs, or
+
+(iv) is a beneficiary of a participant described in clause (iii)(II) and has a nonforfeitable right to an accrued benefit under the terminated plan as of the termination date.
+
+(B) Present value Present value shall be determined as of the termination date and on the same basis as liabilities of the plan are determined on termination.
+
+(C) Reallocation of increase Except as provided in paragraph (2)(C), if any benefit increase is reduced by reason of the last sentence of paragraph (3)(A)(ii) or paragraph (4), the amount of such reduction shall be allocated to the remaining participants on the same basis as other increases (and shall be treated as meeting any allocation requirement of this subsection).
+
+(D) Plans taken into account For purposes of determining whether there is a qualified replacement plan under paragraph (2), the Secretary may provide that—
+
+(i) 2 or more plans may be treated as 1 plan, or
+
+(ii) a plan of a successor employer may be taken into account.
+
+(E) Special rule for participation requirement For purposes of paragraph (2)(A), all employers treated as 1 employer under section 414(b), (c), (m), or (o) shall be treated as 1 employer.
+
+(6) Subsection not to apply to employer in bankruptcy This subsection shall not apply to an employer who, as of the termination date of the qualified plan, is in bankruptcy liquidation under chapter 7 of title 11 of the United States Code or in similar proceedings under State law.
+
+(Added Pub. L. 99–514, title XI, § 1132(a), Oct. 22, 1986, 100 Stat. 2478; amended Pub. L. 100–647, title I, § 1011A(f)(1)–(3), (6), (7), title V, § 5072(a), title VI, § 6069(a), Nov. 10, 1988, 102 Stat. 3478, 3479, 3681, 3704; Pub. L. 101–508, title XII, §§ 12001, 12002(a), Nov. 5, 1990, 104 Stat. 1388–562; Pub. L. 104–188, title I, § 1704(a), Aug. 20, 1996, 110 Stat. 1878; Pub. L. 109–280, title IX, § 901(a)(2)(C), Aug. 17, 2006, 120 Stat. 1029; Pub. L. 110–458, title I, § 108(i)(3), Dec. 23, 2008, 122 Stat. 5110.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2008—Subsec. (c)(2)(B)(iii). Pub. L. 110–458 added cl. (iii). 2006—Subsec. (c)(3)(A). Pub. L. 109–280 substituted “if the requirements of subparagraphs (B), (C), and (D) are met” for “if— “(i) the requirements of subparagraphs (B), (C), and (D) are met, and “(ii) under the plan, employer securities to which subparagraph (B) applies must, except to the extent necessary to meet the requirements of section 401(a)(28), remain in the plan until distribution to participants in accordance with the provisions of such plan”. 1996—Subsecs. (a), (d). Pub. L. 104–188 provided that, except as otherwise expressly provided, whenever in title XII of Pub. L. 101–508 an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986. Sections 12001 and 12002(a) of title XII of Pub. L. 101–508 directed the amendment of this section without specifying that the amendment was to the Internal Revenue Code of 1986. See 1990 Amendment note below. 1990—Subsec. (a). Pub. L. 101–508, § 12001, which directed the substitution of “20 percent” for “15 percent” in “section 4980(a)” without specifying the Internal Revenue Code of 1986, was executed to subsec. (a) of this section. See 1996 Amendment note above. Subsec. (d). Pub. L. 101–508, § 12002(a), which directed the addition of subsec. (d) to “section 4980” without specifying the Internal Revenue Code of 1986, was executed to this section. See 1996 Amendment note above. 1988—Subsec. (a). Pub. L. 100–647, § 6069(a), substituted “15” for “10”. Subsec. (c)(1)(A). Pub. L. 100–647, § 1011A(f)(1), substituted “subtitle A” for “this subtitle”. Subsec. (c)(3)(A). Pub. L. 100–647, § 1011A(f)(2), inserted “or a tax credit employee stock ownership plan (as described in section 409)” after “section 4975(e)(7)” in introductory text, and “, except to the extent necessary to meet the requirements of section 401(a)(28),” after “must” in cl. (ii). Subsec. (c)(3)(C). Pub. L. 100–647, § 1011A(f)(3), struck out “(by reason of the limitations of section 415)” after “not allocated” in introductory text, and inserted sentence at end relating to minimum amount allocated in year of transfer. Pub. L. 100–647, § 1011A(f)(7), inserted sentence at end relating to dividends on securities held in suspense account. Subsec. (c)(3)(F), (G). Pub. L. 100–647, § 1011A(f)(6), added subpars. (F) and (G). Subsec. (c)(4). Pub. L. 100–647, § 5072(a), added par. (4).
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 2008 AmendmentAmendment 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.
+
+Effective Date of 2006 AmendmentAmendment by Pub. L. 109–280 applicable to plan years beginning after Dec. 31, 2006, with special rules for collectively bargained agreements and certain employer securities held in an ESOP, see section 901(c) of Pub. L. 109–280, set out as a note under section 401 of this title.
+
+Effective Date of 1990 AmendmentPub. L. 101–508, title XII, § 12003, Nov. 5, 1990, 104 Stat. 1388–566, provided that: “(a) In General.—Except as provided in subsection (b), the amendments made by this subtitle [subtitle A (§§ 12001–12003) of title XII of Pub. L. 101–508, amending this section and sections 1002, 1104, and 1344 of Title 29, Labor] shall apply to reversions occurring after September 30, 1990. “(b) Exception.—The amendments made by this subtitle shall not apply to any reversion after September 30, 1990, if—“(1) in the case of plans subject to title IV of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1301 et seq.], a notice of intent to terminate under such title was provided to participants (or if no participants, to the Pension Benefit Guaranty Corporation) before October 1, 1990, “(2) in the case of plans subject to title I [29 U.S.C. 1001 et seq.] (and not to title IV) of such Act, a notice of intent to reduce future accruals under section 204(h) of such Act [29 U.S.C. 1054(h)] was provided to participants in connection with the termination before October 1, 1990, “(3) in the case of plans not subject to title I or IV of such Act, a request for a determination letter with respect to the termination was filed with the Secretary of the Treasury or the Secretary’s delegate before October 1, 1990, or “(4) in the case of plans not subject to title I or IV of such Act and having only 1 participant, a resolution terminating the plan was adopted by the employer before October 1, 1990.”
+
+Effective Date of 1988 AmendmentAmendment by section 1011A(f)(1)–(3), (6), (7) 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 V, § 5072(b), Nov. 10, 1988, 102 Stat. 3681, provided that: “The amendment made by subsection (a) [amending this section] shall apply to reversions after December 31, 1988.” Pub. L. 100–647, title VI, § 6069(b), Nov. 10, 1988, 102 Stat. 3704, provided that: “(1) In general.—The amendment made by subsection (a) [amending this section] shall apply to reversions occurring on or after October 21, 1988. “(2) Exception.—The amendment made by subsection (a) shall not apply to any reversion on or after October 21, 1988, pursuant to a plan termination if—“(A) with respect to plans subject to title IV of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1301 et seq.], a notice of intent to terminate required under such title was provided to participants (or if no participants, to the Pension Benefit Guaranty Corporation) before October 21, 1988, “(B) with respect to plans subject to title I of such Act [29 U.S.C. 1001 et seq.], a notice of intent to reduce future accruals required under section 204(h) of such Act [29 U.S.C. 1054(h)] was provided to participants in connection with the termination before October 21, 1988, “(C) with respect to plans not subject to title I or IV of such Act, the Board of Directors of the employer approved the termination or the employer took other binding action before October 21, 1988, or “(D) such plan termination was directed by a final order of a court of competent jurisdiction entered before October 21, 1988, and notice of such order was provided to participants before such date.”
+
+Effective DatePub. L. 99–514, title XI, § 1132(c), Oct. 22, 1986, 100 Stat. 2480, as amended by Pub. L. 100–647, title I, § 1011A(f)(4), (5), Nov. 10, 1988, 102 Stat. 3479, provided that: “(1) In general.—The amendments made by this section [enacting this section] shall apply to reversions occurring after December 31, 1985. “(2) Exception where termination date occurred before january 1, 1986.—“(A) In general.—Except as provided in subparagraph (B), the amendments made by this section shall not apply to any reversion after December 31, 1985, which occurs pursuant to a plan termination where the termination date is before January 1, 1986. “(B) Election to have amendments apply.—A corporation may elect to have the amendments made by this section apply to any reversion after 1985 pursuant to a plan termination occurring before 1986 if such corporation was incorporated in the State of Delaware in March, 1978, and became a parent corporation of the consolidated group on September 19, 1978, pursuant to a merger agreement recorded in the State of Nevada on September 19, 1978. “(3) Termination date.—For purposes of paragraph (2), the term ‘termination date’ is the date of the termination (within the meaning of section 411(d)(3) of the Internal Revenue Code of 1986) of the plan. “(4) Transition rule for certain terminations.—“(A) In general.—In the case of a taxpayer to which this paragraph applies, the amendments made by this section shall not apply to any termination occurring before the date which is 1 year after the date of the enactment of this Act [Oct. 22, 1986]. “(B) Taxpayers to whom paragraph applies.—This paragraph shall apply to—“(i) a corporation incorporated on June 13, 1917, which has its principal place of business in Bartlesville, Oklahoma, “(ii) a corporation incorporated on January 17, 1917, which is located in Coatesville, Pennsylvania, “(iii) a corporation incorporated on January 23, 1928, which has its principal place of business in New York, New York, “(iv) a corporation incorporated on April 23, 1956, which has its principal place of business in Dallas, Texas, and “(v) a corporation incorporated in the State of Nevada, the principal place of business of which is in Denver, Colorado, and which filed for relief from creditors under the United States Bankruptcy Code on August 28, 1986. “(5) Special rule for employee stock ownership plans.—Section 4980(c)(3) of the Internal Revenue Code of 1986 (as added by subsection (a)) shall apply to reversions occurring after March 31, 1985.”
+
+Transfer of Excess Assets From Qualified Pension Plan to Welfare Benefit PlanPub. L. 101–239, title VII, § 7861(b), Dec. 19, 1989, 103 Stat. 2430, provided that: “(1) Notwithstanding any other provision of law, in the case of any qualified pension plan and welfare benefit plan described in paragraph (2), the assets of such pension plan in excess of its liabilities may be transferred to such welfare benefit plan upon the termination of such pension plan if such assets are to be used to provide retiree health benefits. “(2) For purposes of paragraph (1), a qualified pension plan and welfare benefit plan are described in this paragraph if—“(A) both such plans are jointly administered pursuant to a collective bargaining agreement between the employer maintaining such plans and one or more employee representatives, “(B) the welfare benefit plan provides retiree health benefits, and “(C) the qualified pension plan has assets in excess of liabilities (determined on a termination basis) and the welfare benefit plan has assets which are less than the present value of the benefits to be provided under the plan (determined as of the time of termination of the pension plan). “(3) For purposes of the Internal Revenue Code of 1986, any transfer of assets to which paragraph (1) applies shall be treated as a reversion of such assets to the employer maintaining the plan which is includible in the gross income of such employer and subject to the tax imposed by section 4980 of such Code.”
+
+Plan Amendments Not Required Until January 1, 1989For 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 Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.

legal/us/code/title-26/chapter-43/section-4980a.md

@@ -0,0 +1,37 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4980A"
+description: "Repealed. Pub. L. 105–34, title X, § 1073(a), Aug. 5, 1997, 111 Stat. 948]"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4980A"
+citation: "26 U.S.C. § 4980A"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4980A"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "4d87aaa993f8cd4b3682c916e6f8150be612be39073a4c2977219b0096afb25d"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "a9263e310ff62ea9eba737ad0cf4e76eb4aedb77ae3f4400e4ffe0e80cecb0f1"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4980A - Repealed. Pub. L. 105–34, title X, § 1073(a), Aug. 5, 1997, 111 Stat. 948]
+
+## Notes
+
+Section, added Pub. L. 99–514, title XI, § 1133(a), Oct. 22, 1986, 100 Stat. 2481, § 4981A; renumbered § 4980A and amended Pub. L. 100–647, title I, § 1011A(g)(1)(A), (2)–(6), (9), Nov. 10, 1988, 102 Stat. 3479–3482; Pub. L. 102–318, title V, § 521(b)(42), July 3, 1992, 106 Stat. 313; Pub. L. 104–188, title I, §§ 1401(b)(12), 1452(b), Aug. 20, 1996, 110 Stat. 1789, 1816, related to tax on excess distributions from qualified retirement plans.
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of RepealPub. L. 105–34, title X, § 1073(c), Aug. 5, 1997, 111 Stat. 948, provided that: “(1) Excess distribution tax repeal.—Except as provided in paragraph (2), the repeal made by subsection (a) [repealing this section] shall apply to excess distributions received after December 31, 1996. “(2) Excess retirement accumulation tax repeal.—The repeal made by subsection (a) with respect to section 4980A(d) of the Internal Revenue Code of 1986 and the amendments made by subsection (b) [amending sections 691, 2013, 2053, and 6018 of this title] shall apply to estates of decedents dying after December 31, 1996.”

legal/us/code/title-26/chapter-43/section-4980c.md

@@ -0,0 +1,97 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4980C"
+description: "Requirements for issuers of qualified long-term care insurance contracts"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4980C"
+citation: "26 U.S.C. § 4980C"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4980C"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "758ac36a123baafe36e03d029519a627609101fd48a60efbba9e341d9cbe8256"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "92ac425b91f07c329296078e321dfeed1824927fcc144f7308e5b4689f66ef1b"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4980C - Requirements for issuers of qualified long-term care insurance contracts
+
+## Text
+
+(a) General rule There is hereby imposed on any person failing to meet the requirements of subsection (c) or (d) a tax in the amount determined under subsection (b).
+
+(b) Amount (1) In general The amount of the tax imposed by subsection (a) shall be $100 per insured for each day any requirement of subsection (c) or (d) is not met with respect to each qualified long-term care insurance contract.
+
+(2) Waiver In the case of a failure which is due to reasonable cause and not to willful neglect, the Secretary may waive part or all of the tax imposed by subsection (a) to the extent that payment of the tax would be excessive relative to the failure involved.
+
+(c) Responsibilities The requirements of this subsection are as follows:
+
+(1) Requirements of model provisions (A) Model regulation The following requirements of the model regulation must be met:
+
+(i) Section 13 (relating to application forms and replacement coverage).
+
+(ii) Section 14 (relating to reporting requirements), except that the issuer shall also report at least annually the number of claims denied during the reporting period for each class of business (expressed as a percentage of claims denied), other than claims denied for failure to meet the waiting period or because of any applicable preexisting condition.
+
+(iii) Section 20 (relating to filing requirements for marketing).
+
+(iv) Section 21 (relating to standards for marketing), including inaccurate completion of medical histories, other than sections 21C(1) and 21C(6) thereof, except that—
+
+(I) in addition to such requirements, no person shall, in selling or offering to sell a qualified long-term care insurance contract, misrepresent a material fact; and
+
+(II) no such requirements shall include a requirement to inquire or identify whether a prospective applicant or enrollee for long-term care insurance has accident and sickness insurance.
+
+(v) Section 22 (relating to appropriateness of recommended purchase).
+
+(vi) Section 24 (relating to standard format outline of coverage).
+
+(vii) Section 25 (relating to requirement to deliver shopper’s guide).
+
+(B) Model Act The following requirements of the model Act must be met:
+
+(i) Section 6F (relating to right to return), except that such section shall also apply to denials of applications and any refund shall be made within 30 days of the return or denial.
+
+(ii) Section 6G (relating to outline of coverage).
+
+(iii) Section 6H (relating to requirements for certificates under group plans).
+
+(iv) Section 6I (relating to policy summary).
+
+(v) Section 6J (relating to monthly reports on accelerated death benefits).
+
+(vi) Section 7 (relating to incontestability period).
+
+(C) Definitions For purposes of this paragraph, the terms “model regulation” and “model Act” have the meanings given such terms by section 7702B(g)(2)(B).
+
+(2) Delivery of policy If an application for a qualified long-term care insurance contract (or for a certificate under such a contract for a group) is approved, the issuer shall deliver to the applicant (or policyholder or certificateholder) the contract (or certificate) of insurance not later than 30 days after the date of the approval.
+
+(3) Information on denials of claims If a claim under a qualified long-term care insurance contract is denied, the issuer shall, within 60 days of the date of a written request by the policyholder or certificateholder (or representative)—
+
+(A) provide a written explanation of the reasons for the denial, and
+
+(B) make available all information directly relating to such denial.
+
+(d) Disclosure The requirements of this subsection are met if the issuer of a long-term care insurance policy discloses in such policy and in the outline of coverage required under subsection (c)(1)(B)(ii) that the policy is intended to be a qualified long-term care insurance contract under section 7702B(b).
+
+(e) Qualified long-term care insurance contract defined For purposes of this section, the term “qualified long-term care insurance contract” has the meaning given such term by section 7702B.
+
+(f) Coordination with State requirements If a State imposes any requirement which is more stringent than the analogous requirement imposed by this section or section 7702B(g), the requirement imposed by this section or section 7702B(g) shall be treated as met if the more stringent State requirement is met.
+
+(Added Pub. L. 104–191, title III, § 326(a), Aug. 21, 1996, 110 Stat. 2065.)
+
+## Notes
+
+Statutory Notes and Related Subsidiaries
+
+Effective DatePub. L. 104–191, title III, § 327, Aug. 21, 1996, 110 Stat. 2066, provided that: “(a) In General.—The provisions of, and amendments made by, this part [part II (§§ 325–327) of subtitle C of title III of Pub. L. 104–191, enacting this section and amending section 7702B of this title] shall apply to contracts issued after December 31, 1996. The provisions of section 321(f) [set out as an Effective Date note under section 7702B of this title] (relating to transition rule) shall apply to such contracts. “(b) Issuers.—The amendments made by section 326 [enacting this section] shall apply to actions taken after December 31, 1996.”

legal/us/code/title-26/chapter-43/section-4980d.md

@@ -0,0 +1,139 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4980D"
+description: "Failure to meet certain group health plan requirements"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4980D"
+citation: "26 U.S.C. § 4980D"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4980D"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "f15e11ac799c397c0beb1b24ad45db8c08c6b7c22f9baf6ec35a6ceb68629c4c"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "33ce6560a199d1c6a8fad58c172b675825172eb308b4fe2431f99aab5f3c1836"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4980D - Failure to meet certain group health plan requirements
+
+## Text
+
+(a) General rule There is hereby imposed a tax on any failure of a group health plan to meet the requirements of chapter 100 (relating to group health plan requirements).
+
+(b) Amount of tax (1) In general The amount of the tax imposed by subsection (a) on any failure shall be $100 for each day in the noncompliance period with respect to each individual to whom such failure relates.
+
+(2) Noncompliance period For purposes of this section, the term “noncompliance period” means, with respect to any failure, the period—
+
+(A) beginning on the date such failure first occurs, and
+
+(B) ending on the date such failure is corrected.
+
+(3) Minimum tax for noncompliance period where failure discovered after notice of examination Notwithstanding paragraphs (1) and (2) of subsection (c)—
+
+(A) In general In the case of 1 or more failures with respect to an individual—
+
+(i) which are not corrected before the date a notice of examination of income tax liability is sent to the employer, and
+
+(ii) which occurred or continued during the period under examination,
+
+the amount of tax imposed by subsection (a) by reason of such failures with respect to such individual shall not be less than the lesser of $2,500 or the amount of tax which would be imposed by subsection (a) without regard to such paragraphs.
+
+(B) Higher minimum tax where violations are more than de minimis To the extent violations for which any person is liable under subsection (e) for any year are more than de minimis, subparagraph (A) shall be applied by substituting “$15,000” for “$2,500” with respect to such person.
+
+(C) Exception for church plans This paragraph shall not apply to any failure under a church plan (as defined in section 414(e)).
+
+(c) Limitations on amount of tax (1) Tax not to apply where failure not discovered exercising reasonable diligence No tax shall be imposed by subsection (a) on any failure during any period for which it is established to the satisfaction of the Secretary that the person otherwise liable for such tax did not know, and exercising reasonable diligence would not have known, that such failure existed.
+
+(2) Tax not to apply to failures corrected within certain periods No tax shall be imposed by subsection (a) on any failure if—
+
+(A) such failure was due to reasonable cause and not to willful neglect, and
+
+(B) (i) in the case of a plan other than a church plan (as defined in section 414(e)), such failure is corrected during the 30-day period beginning on the first date the person otherwise liable for such tax knew, or exercising reasonable diligence would have known, that such failure existed, and
+
+(ii) in the case of a church plan (as so defined), such failure is corrected before the close of the correction period (determined under the rules of section 414(e)(4)(C)).
+
+(3) Overall limitation for unintentional failures In the case of failures which are due to reasonable cause and not to willful neglect—
+
+(A) Single employer plans (i) In general In the case of failures with respect to plans other than specified multiple employer health plans, the tax imposed by subsection (a) for failures during the taxable year of the employer shall not exceed the amount equal to the lesser of—
+
+(I) 10 percent of the aggregate amount paid or incurred by the employer (or predecessor employer) during the preceding taxable year for group health plans, or
+
+(II) $500,000.
+
+(ii) Taxable years in the case of certain controlled groups For purposes of this subparagraph, if not all persons who are treated as a single employer for purposes of this section have the same taxable year, the taxable years taken into account shall be determined under principles similar to the principles of section 1561.
+
+(B) Specified multiple employer health plans (i) In general In the case of failures with respect to a specified multiple employer health plan, the tax imposed by subsection (a) for failures during the taxable year of the trust forming part of such plan shall not exceed the amount equal to the lesser of—
+
+(I) 10 percent of the amount paid or incurred by such trust during such taxable year to provide medical care (as defined in section 9832(d)(3)) directly or through insurance, reimbursement, or otherwise, or
+
+(II) $500,000.
+
+For purposes of the preceding sentence, all plans of which the same trust forms a part shall be treated as one plan.
+
+(ii) Special rule for employers required to pay tax If an employer is assessed a tax imposed by subsection (a) by reason of a failure with respect to a specified multiple employer health plan, the limit shall be determined under subparagraph (A) (and not under this subparagraph) and as if such plan were not a specified multiple employer health plan.
+
+(4) Waiver by Secretary In the case of a failure which is due to reasonable cause and not to willful neglect, the Secretary may waive part or all of the tax imposed by subsection (a) to the extent that the payment of such tax would be excessive relative to the failure involved.
+
+(d) Tax not to apply to certain insured small employer plans (1) In general In the case of a group health plan of a small employer which provides health insurance coverage solely through a contract with a health insurance issuer, no tax shall be imposed by this section on the employer on any failure (other than a failure attributable to section 9811) which is solely because of the health insurance coverage offered by such issuer.
+
+(2) Small employer (A) In general For purposes of paragraph (1), the term “small employer” means, with respect to a calendar year and a plan year, an employer who employed an average of at least 2 but not more than 50 employees on business days during the preceding calendar year and who employs at least 2 employees on the first day of the plan year. For purposes of the preceding sentence, all persons treated as a single employer under subsection (b), (c), (m), or (o) of section 414 shall be treated as one employer.
+
+(B) Employers not in existence in preceding year In the case of an employer which was not in existence throughout the preceding calendar year, the determination of whether such employer is a small employer shall be based on the average number of employees that it is reasonably expected such employer will employ on business days in the current calendar year.
+
+(C) Predecessors Any reference in this paragraph to an employer shall include a reference to any predecessor of such employer.
+
+(3) Health insurance coverage; health insurance issuer For purposes of paragraph (1), the terms “health insurance coverage” and “health insurance issuer” have the respective meanings given such terms by section 9832.
+
+(e) Liability for tax The following shall be liable for the tax imposed by subsection (a) on a failure:
+
+(1) Except as otherwise provided in this subsection, the employer.
+
+(2) In the case of a multiemployer plan, the plan.
+
+(3) In the case of a failure under section 9803 (relating to guaranteed renewability) with respect to a plan described in subsection (f)(2)(B), the plan.
+
+(f) Definitions For purposes of this section—
+
+(1) Group health plan The term “group health plan” has the meaning given such term by section 9832(a).
+
+(2) Specified multiple employer health plan The term “specified multiple employer health plan” means a group health plan which is—
+
+(A) any multiemployer plan, or
+
+(B) any multiple employer welfare arrangement (as defined in section 3(40) of the Employee Retirement Income Security Act of 1974, as in effect on the date of the enactment of this section).
+
+(3) Correction A failure of a group health plan shall be treated as corrected if—
+
+(A) such failure is retroactively undone to the extent possible, and
+
+(B) the person to whom the failure relates is placed in a financial position which is as good as such person would have been in had such failure not occurred.
+
+(g) Application to requirements imposed on certain entities providing pharmacy benefit management services In the case of any requirement under section 9826 that applies with respect to an entity providing pharmacy benefit management services on behalf of a group health plan, any reference in this section to such group health plan (and the reference in subsection (e)(1) to the employer) shall be treated as including a reference to such entity.
+
+(Added Pub. L. 104–191, title IV, § 402(a), Aug. 21, 1996, 110 Stat. 2084; amended Pub. L. 105–34, title XV, § 1531(b)(2), Aug. 5, 1997, 111 Stat. 1085; Pub. L. 109–135, title IV, § 412(ww), Dec. 21, 2005, 119 Stat. 2640; Pub. L. 119–75, div. J, title VII, § 6701(c)(3), Feb. 3, 2026, 140 Stat. 732.)
+
+## Notes
+
+Editorial Notes
+
+References in TextSection 3(40) of the Employee Retirement Income Security Act of 1974, referred to in subsec. (f)(2)(B), is classified to section 1002(40) of Title 29, Labor. The date of the enactment of this section, referred to in subsec. (f)(2)(B), is the date of enactment of Pub. L. 104–191, which was approved Aug. 21, 1996.
+
+Amendments2026—Subsec. (g). Pub. L. 119–75 added subsec. (g). 2005—Subsec. (a). Pub. L. 109–135 substituted “plan requirements” for “plans requirements”. 1997—Subsec. (a). Pub. L. 105–34, § 1531(b)(2)(A), substituted “plans” for “plan portability, access, and renewability”. Subsec. (c)(3)(B)(i)(I). Pub. L. 105–34, § 1531(b)(2)(B), substituted “9832(d)(3)” for “9805(d)(3)”. Subsec. (d)(1). Pub. L. 105–34, § 1531(b)(2)(C), inserted “(other than a failure attributable to section 9811)” after “on any failure”. Subsec. (d)(3). Pub. L. 105–34, § 1531(b)(2)(D), substituted “section 9832” for “section 9805”. Subsec. (f)(1). Pub. L. 105–34, § 1531(b)(2)(E), substituted “section 9832(a)” for “section 9805(a)”.
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 1997 AmendmentPub. L. 105–34, title XV, § 1531(c), Aug. 5, 1997, 111 Stat. 1085, provided that: “The amendments made by this section [enacting sections 9811 and 9812 of this title, amending this section and sections 9801 and 9831 of this title, and renumbering sections 9804 to 9806 of this title as sections 9831 to 9833 of this title] shall apply with respect to group health plans for plan years beginning on or after January 1, 1998.”
+
+Effective DatePub. L. 104–191, title IV, § 402(c), Aug. 21, 1996, 110 Stat. 2087, provided that: “The amendments made by this section [enacting this section] shall apply to failures under chapter 100 of the Internal Revenue Code of 1986 (as added by section 401 of this Act).”

legal/us/code/title-26/chapter-43/section-4980e.md

@@ -0,0 +1,75 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4980E"
+description: "Failure of employer to make comparable Archer MSA contributions"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4980E"
+citation: "26 U.S.C. § 4980E"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4980E"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "f92c01d141855c288ef866a58081dbbf2ff93b27487ed86a9a4d255f349b5390"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "056f42ec8ec77409ffb8d6659810b0e93c6d50f7dd73ad1f7cc7c383795e85fc"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4980E - Failure of employer to make comparable Archer MSA contributions
+
+## Text
+
+(a) General rule In the case of an employer who makes a contribution to the Archer MSA of any employee with respect to coverage under a high deductible health plan of the employer during a calendar year, there is hereby imposed a tax on the failure of such employer to meet the requirements of subsection (d) for such calendar year.
+
+(b) Amount of tax The amount of the tax imposed by subsection (a) on any failure for any calendar year is the amount equal to 35 percent of the aggregate amount contributed by the employer to Archer MSAs of employees for taxable years of such employees ending with or within such calendar year.
+
+(c) Waiver by Secretary In the case of a failure which is due to reasonable cause and not to willful neglect, the Secretary may waive part or all of the tax imposed by subsection (a) to the extent that the payment of such tax would be excessive relative to the failure involved.
+
+(d) Employer required to make comparable MSA contributions for all participating employees (1) In general An employer meets the requirements of this subsection for any calendar year if the employer makes available comparable contributions to the Archer MSAs of all comparable participating employees for each coverage period during such calendar year.
+
+(2) Comparable contributions (A) In general For purposes of paragraph (1), the term “comparable contributions” means contributions—
+
+(i) which are the same amount, or
+
+(ii) which are the same percentage of the annual deductible limit under the high deductible health plan covering the employees.
+
+(B) Part-year employees In the case of an employee who is employed by the employer for only a portion of the calendar year, a contribution to the Archer MSA of such employee shall be treated as comparable if it is an amount which bears the same ratio to the comparable amount (determined without regard to this subparagraph) as such portion bears to the entire calendar year.
+
+(3) Comparable participating employees For purposes of paragraph (1), the term “comparable participating employees” means all employees—
+
+(A) who are eligible individuals covered under any high deductible health plan of the employer, and
+
+(B) who have the same category of coverage.
+
+For purposes of subparagraph (B), the categories of coverage are self-only and family coverage.
+
+(4) Part-time employees (A) In general Paragraph (3) shall be applied separately with respect to part-time employees and other employees.
+
+(B) Part-time employee For purposes of subparagraph (A), the term “part-time employee” means any employee who is customarily employed for fewer than 30 hours per week.
+
+(e) Controlled groups For purposes of this section, all persons treated as a single employer under subsection (b), (c), (m), or (o) of section 414 shall be treated as 1 employer.
+
+(f) Definitions Terms used in this section which are also used in section 220 have the respective meanings given such terms in section 220.
+
+(Added Pub. L. 104–191, title III, § 301(c)(4)(A), Aug. 21, 1996, 110 Stat. 2049; amended Pub. L. 106–554, § 1(a)(7) [title II, § 202(a)(8), (b)(2)(D)], Dec. 21, 2000, 114 Stat. 2763, 2763A–629; Pub. L. 107–147, title IV, § 417(17)(A), Mar. 9, 2002, 116 Stat. 56.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2002—Pub. L. 107–147 substituted “Archer MSA contributions” for “medical savings account contributions” in section catchline. 2000—Subsec. (a). Pub. L. 106–554, § 1(a)(7) [title II, § 202(a)(8)], substituted “Archer MSA” for “medical savings account”. Subsecs. (b), (d)(1). Pub. L. 106–554, § 1(a)(7) [title II, § 202(b)(2)(D)], substituted “Archer MSAs” for “medical savings accounts”. Subsec. (d)(2)(B). Pub. L. 106–554, § 1(a)(7) [title II, § 202(a)(8)], substituted “Archer MSA” for “medical savings account”.
+
+Statutory Notes and Related Subsidiaries
+
+Effective DateSection applicable to taxable years beginning after Dec. 31, 1996, see section 301(j) of Pub. L. 104–191, set out as an Effective Date of 1996 Amendment note under section 62 of this title.

legal/us/code/title-26/chapter-43/section-4980f.md

@@ -0,0 +1,109 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4980F"
+description: "Failure of applicable plans reducing benefit accruals to satisfy notice requirements"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4980F"
+citation: "26 U.S.C. § 4980F"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4980F"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "28fd2a17ca901829a4a73e58e9f0ac2adb4df037b9f0c49f4daf631e1d2d8f32"
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+text_hash: "e930d523361e5c82937416c7eaff92e5f99a28db689fd327d32146e854bac57c"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4980F - Failure of applicable plans reducing benefit accruals to satisfy notice requirements
+
+## Text
+
+(a) Imposition of tax There is hereby imposed a tax on the failure of any applicable pension plan to meet the requirements of subsection (e) with respect to any applicable individual.
+
+(b) Amount of tax (1) In general The amount of the tax imposed by subsection (a) on any failure with respect to any applicable individual shall be $100 for each day in the noncompliance period with respect to such failure.
+
+(2) Noncompliance period For purposes of this section, the term “noncompliance period” means, with respect to any failure, the period beginning on the date the failure first occurs and ending on the date the notice to which the failure relates is provided or the failure is otherwise corrected.
+
+(c) Limitations on amount of tax (1) Tax not to apply where failure not discovered and reasonable diligence exercised No tax shall be imposed by subsection (a) on any failure during any period for which it is established to the satisfaction of the Secretary that any person subject to liability for the tax under subsection (d) did not know that the failure existed and exercised reasonable diligence to meet the requirements of subsection (e).
+
+(2) Tax not to apply to failures corrected within 30 days No tax shall be imposed by subsection (a) on any failure if—
+
+(A) any person subject to liability for the tax under subsection (d) exercised reasonable diligence to meet the requirements of subsection (e), and
+
+(B) such person provides the notice described in subsection (e) during the 30-day period beginning on the first date such person knew, or exercising reasonable diligence would have known, that such failure existed.
+
+(3) Overall limitation for unintentional failures (A) In general If the person subject to liability for tax under subsection (d) exercised reasonable diligence to meet the requirements of subsection (e), the tax imposed by subsection (a) for failures during the taxable year of the employer (or, in the case of a multiemployer plan, the taxable year of the trust forming part of the plan) shall not exceed $500,000. For purposes of the preceding sentence, all multiemployer plans of which the same trust forms a part shall be treated as 1 plan.
+
+(B) Taxable years in the case of certain controlled groups For purposes of this paragraph, if all persons who are treated as a single employer for purposes of this section do not have the same taxable year, the taxable years taken into account shall be determined under principles similar to the principles of section 1561.
+
+(4) Waiver by Secretary In the case of a failure which is due to reasonable cause and not to willful neglect, the Secretary may waive part or all of the tax imposed by subsection (a) to the extent that the payment of such tax would be excessive or otherwise inequitable relative to the failure involved.
+
+(d) Liability for tax The following shall be liable for the tax imposed by subsection (a):
+
+(1) In the case of a plan other than a multiemployer plan, the employer.
+
+(2) In the case of a multiemployer plan, the plan.
+
+(e) Notice requirements for plans significantly reducing benefit accruals (1) In general If an applicable pension plan is amended to provide for a significant reduction in the rate of future benefit accrual, the plan administrator shall provide the notice described in paragraph (2) to each applicable individual (and to each employee organization representing applicable individuals) and to each employer who has an obligation to contribute to the plan.
+
+(2) Notice The notice required by paragraph (1) shall be written in a manner calculated to be understood by the average plan participant and shall provide sufficient information (as determined in accordance with regulations prescribed by the Secretary) to allow applicable individuals to understand the effect of the plan amendment. The Secretary may provide a simplified form of notice for, or exempt from any notice requirement, a plan—
+
+(A) which has fewer than 100 participants who have accrued a benefit under the plan, or
+
+(B) which offers participants the option to choose between the new benefit formula and the old benefit formula.
+
+(3) Timing of notice Except as provided in regulations, the notice required by paragraph (1) shall be provided within a reasonable time before the effective date of the plan amendment.
+
+(4) Designees Any notice under paragraph (1) may be provided to a person designated, in writing, by the person to which it would otherwise be provided.
+
+(5) Notice before adoption of amendment A plan shall not be treated as failing to meet the requirements of paragraph (1) merely because notice is provided before the adoption of the plan amendment if no material modification of the amendment occurs before the amendment is adopted.
+
+(f) Definitions and special rules For purposes of this section—
+
+(1) Applicable individual The term “applicable individual” means, with respect to any plan amendment—
+
+(A) each participant in the plan, and
+
+(B) any beneficiary who is an alternate payee (within the meaning of section 414(p)(8)) under an applicable qualified domestic relations order (within the meaning of section 414(p)(1)(A)),
+
+whose rate of future benefit accrual under the plan may reasonably be expected to be significantly reduced by such plan amendment.
+
+(2) Applicable pension plan The term “applicable pension plan” means—
+
+(A) any defined benefit plan described in section 401(a) which includes a trust exempt from tax under section 501(a), or
+
+(B) an individual account plan which is subject to the funding standards of section 412.
+
+Such term shall not include a governmental plan (within the meaning of section 414(d)) or a church plan (within the meaning of section 414(e)) with respect to which the election provided by section 410(d) has not been made.
+
+(3) Early retirement A plan amendment which eliminates or reduces any early retirement benefit or retirement-type subsidy (within the meaning of section 411(d)(6)(B)(i)) shall be treated as having the effect of reducing the rate of future benefit accrual.
+
+(g) New technologies The Secretary may by regulations allow any notice under subsection (e) to be provided by using new technologies.
+
+(Added Pub. L. 107–16, title VI, § 659(a)(1), June 7, 2001, 115 Stat. 137; amended Pub. L. 107–147, title IV, § 411(u)(1), Mar. 9, 2002, 116 Stat. 51; Pub. L. 109–280, title V, § 502(c)(2), Aug. 17, 2006, 120 Stat. 941.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2006—Subsec. (e)(1). Pub. L. 109–280 inserted “and to each employer who has an obligation to contribute to the plan” before period at end. 2002—Subsec. (e)(1). Pub. L. 107–147, § 411(u)(1)(A), substituted “the notice described in paragraph (2)” for “written notice”. Subsec. (f)(2)(A). Pub. L. 107–147, § 411(u)(1)(B), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “any defined benefit plan, or”. Subsec. (f)(3). Pub. L. 107–147, § 411(u)(1)(C), struck out “significantly” before “reduces” and before “reducing”.
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 2006 AmendmentPub. L. 109–280, title V, § 502(d), Aug. 17, 2006, 120 Stat. 941, provided that: “The amendments made by this section [amending this section and sections 1021, 1054, and 1132 of Title 29, Labor] shall apply to plan years beginning after December 31, 2007.”
+
+Effective Date of 2002 AmendmentAmendment 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.
+
+Effective DatePub. L. 107–16, title VI, § 659(c), June 7, 2001, 115 Stat. 141, as amended by Pub. L. 107–147, title IV, § 411(u)(3), Mar. 9, 2002, 116 Stat. 52, provided that: “(1) In general.—The amendments made by this section [enacting this section and amending section 1054 of Title 29, Labor] shall apply to plan amendments taking effect on or after the date of the enactment of this Act [June 7, 2001]. “(2) Transition.—Until such time as the Secretary of the Treasury issues regulations under sections 4980F(e)(2) and (3) of the Internal Revenue Code of 1986, and section 204(h) of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1054(h)], as added by the amendments made by this section, a plan shall be treated as meeting the requirements of such sections if it makes a good faith effort to comply with such requirements. “(3) Special notice rule.—“(A) In general.—The period for providing any notice required by the amendments made by this section shall not end before the date which is 3 months after the date of the enactment of this Act. “(B) Reasonable notice.—The amendments made by this section shall not apply to any plan amendment taking effect on or after the date of the enactment of this Act if, before April 25, 2001, notice was provided to participants and beneficiaries adversely affected by the plan amendment (and their representatives) which was reasonably expected to notify them of the nature and effective date of the plan amendment.”

legal/us/code/title-26/chapter-43/section-4980g.md

@@ -0,0 +1,53 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4980G"
+description: "Failure of employer to make comparable health savings account contributions"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4980G"
+citation: "26 U.S.C. § 4980G"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4980G"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "32a0e10518ea7eaf19976cefcca0219e647c2f30e920876ef117e9b13a907ec9"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "d710a1c8201b7efae16b4ed46b228c086d6a964d4d62adc8db1345ef01ee522a"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4980G - Failure of employer to make comparable health savings account contributions
+
+## Text
+
+(a) General rule In the case of an employer who makes a contribution to the health savings account of any employee during a calendar year, there is hereby imposed a tax on the failure of such employer to meet the requirements of subsection (b) for such calendar year.
+
+(b) Rules and requirements Rules and requirements similar to the rules and requirements of section 4980E shall apply for purposes of this section.
+
+(c) Regulations The Secretary shall issue regulations to carry out the purposes of this section, including regulations providing special rules for employers who make contributions to Archer MSAs and health savings accounts during the calendar year.
+
+(d) Exception For purposes of applying section 4980E to a contribution to a health savings account of an employee who is not a highly compensated employee (as defined in section 414(q)), highly compensated employees shall not be treated as comparable participating employees.
+
+(Added Pub. L. 108–173, title XII, § 1201(d)(4)(A), Dec. 8, 2003, 117 Stat. 2478; amended Pub. L. 109–432, div. A, title III, § 306(a), Dec. 20, 2006, 120 Stat. 2951.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2006—Subsec. (d). Pub. L. 109–432 added subsec. (d).
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 2006 AmendmentPub. L. 109–432, div. A, title III, § 306(b), Dec. 20, 2006, 120 Stat. 2951, provided that: “The amendment made by this section [amending this section] shall apply to taxable years beginning after December 31, 2006.”
+
+Effective DateSection applicable to taxable years beginning after Dec. 31, 2003, see section 1201(k) of Pub. L. 108–173, set out as an Effective Date of 2003 Amendment note under section 62 of this title.

legal/us/code/title-26/chapter-43/section-4980h.md

@@ -0,0 +1,141 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4980H"
+description: "Shared responsibility for employers regarding health coverage"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4980H"
+citation: "26 U.S.C. § 4980H"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4980H"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "e1843b576947394455bcf87a0e625d0660de5acb0d9ddc67ccce40d6fd02371d"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "61e4f3e499667e7c292649b295ec23726c2dc6b3cca3af2122be1f2f3c0ae4ea"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4980H - Shared responsibility for employers regarding health coverage
+
+## Text
+
+(a) Large employers not offering health coverage If—
+
+(1) any applicable large employer fails to offer to its full-time employees (and their dependents) the opportunity to enroll in minimum essential coverage under an eligible employer-sponsored plan (as defined in section 5000A(f)(2)) for any month, and
+
+(2) at least one full-time employee of the applicable large employer has been certified to the employer under section 1411 of the Patient Protection and Affordable Care Act as having enrolled for such month in a qualified health plan with respect to which an applicable premium tax credit or cost-sharing reduction is allowed or paid with respect to the employee,
+
+then there is hereby imposed on the employer an assessable payment equal to the product of the applicable payment amount and the number of individuals employed by the employer as full-time employees during such month.
+
+(b) Large employers offering coverage with employees who qualify for premium tax credits or cost-sharing reductions (1) In general If—
+
+(A) an applicable large employer offers to its full-time employees (and their dependents) the opportunity to enroll in minimum essential coverage under an eligible employer-sponsored plan (as defined in section 5000A(f)(2)) for any month, and
+
+(B) 1 or more full-time employees of the applicable large employer has been certified to the employer under section 1411 of the Patient Protection and Affordable Care Act as having enrolled for such month in a qualified health plan with respect to which an applicable premium tax credit or cost-sharing reduction is allowed or paid with respect to the employee,
+
+then there is hereby imposed on the employer an assessable payment equal to the product of the number of full-time employees of the applicable large employer described in subparagraph (B) for such month and an amount equal to 1⁄12 of $3,000.
+
+(2) Overall limitation The aggregate amount of tax determined under paragraph (1) with respect to all employees of an applicable large employer for any month shall not exceed the product of the applicable payment amount and the number of individuals employed by the employer as full-time employees during such month.
+
+(c) Definitions and special rules For purposes of this section—
+
+(1) Applicable payment amount The term “applicable payment amount” means, with respect to any month, 1⁄12 of $2,000.
+
+(2) Applicable large employer (A) In general The term “applicable large employer” means, with respect to a calendar year, an employer who employed an average of at least 50 full-time employees on business days during the preceding calendar year.
+
+(B) Exemption for certain employers (i) In general An employer shall not be considered to employ more than 50 full-time employees if—
+
+(I) the employer’s workforce exceeds 50 full-time employees for 120 days or fewer during the calendar year, and
+
+(II) the employees in excess of 50 employed during such 120-day period were seasonal workers.
+
+(ii) Definition of seasonal workers The term “seasonal worker” means a worker who performs labor or services on a seasonal basis as defined by the Secretary of Labor, including workers covered by section 500.20(s)(1) of title 29, Code of Federal Regulations and retail workers employed exclusively during holiday seasons.
+
+(C) Rules for determining employer size For purposes of this paragraph—
+
+(i) Application of aggregation rule for employers All persons treated as a single employer under subsection (b), (c), (m), or (o) of section 414 of the Internal Revenue Code of 1986 shall be treated as 1 employer.
+
+(ii) Employers not in existence in preceding year In the case of an employer which was not in existence throughout the preceding calendar year, the determination of whether such employer is an applicable large employer shall be based on the average number of employees that it is reasonably expected such employer will employ on business days in the current calendar year.
+
+(iii) Predecessors Any reference in this subsection to an employer shall include a reference to any predecessor of such employer.
+
+(D) Application of employer size to assessable penalties (i) In general The number of individuals employed by an applicable large employer as full-time employees during any month shall be reduced by 30 solely for purposes of calculating—
+
+(I) the assessable payment under subsection (a), or
+
+(II) the overall limitation under subsection (b)(2).
+
+(ii) Aggregation In the case of persons treated as 1 employer under subparagraph (C)(i), only 1 reduction under subclause (I) or (II) 11 So in original. Probably means subclause (I) or (II) of clause (i). shall be allowed with respect to such persons and such reduction shall be allocated among such persons ratably on the basis of the number of full-time employees employed by each such person.
+
+(E) Full-time equivalents treated as full-time employees Solely for purposes of determining whether an employer is an applicable large employer under this paragraph, an employer shall, in addition to the number of full-time employees for any month otherwise determined, include for such month a number of full-time employees determined by dividing the aggregate number of hours of service of employees who are not full-time employees for the month by 120.
+
+(F) Exemption for health coverage under TRICARE or the Department of Veterans Affairs Solely for purposes of determining whether an employer is an applicable large employer under this paragraph for any month, an individual shall not be taken into account as an employee for such month if such individual has medical coverage for such month under—
+
+(i) chapter 55 of title 10, United States Code, including coverage under the TRICARE program, or
+
+(ii) under a health care program under chapter 17 or 18 of title 38, United States Code, as determined by the Secretary of Veterans Affairs, in coordination with the Secretary of Health and Human Services and the Secretary.
+
+(3) Applicable premium tax credit and cost-sharing reduction The term “applicable premium tax credit and cost-sharing reduction” means—
+
+(A) any premium tax credit allowed under section 36B,
+
+(B) any cost-sharing reduction under section 1402 of the Patient Protection and Affordable Care Act, and
+
+(C) any advance payment of such credit or reduction under section 1412 of such Act.
+
+(4) Full-time employee (A) In general The term “full-time employee” means, with respect to any month, an employee who is employed on average at least 30 hours of service per week.
+
+(B) Hours of service The Secretary, in consultation with the Secretary of Labor, shall prescribe such regulations, rules, and guidance as may be necessary to determine the hours of service of an employee, including rules for the application of this paragraph to employees who are not compensated on an hourly basis.
+
+(5) Inflation adjustment (A) In general In the case of any calendar year after 2014, each of the dollar amounts in subsection (b) and paragraph (1) shall be increased by an amount equal to the product of—
+
+(i) such dollar amount, and
+
+(ii) the premium adjustment percentage (as defined in section 1302(c)(4) of the Patient Protection and Affordable Care Act) for the calendar year.
+
+(B) Rounding If the amount of any increase under subparagraph (A) is not a multiple of $10, such increase shall be rounded to the next lowest multiple of $10.
+
+(6) Other definitions Any term used in this section which is also used in the Patient Protection and Affordable Care Act shall have the same meaning as when used in such Act.
+
+(7) Tax nondeductible For denial of deduction for the tax imposed by this section, see section 275(a)(6).
+
+(d) Administration and procedure (1) In general Any assessable payment provided by this section shall be paid upon notice and demand by the Secretary, and shall be assessed and collected in the same manner as an assessable penalty under subchapter B of chapter 68.
+
+(2) Time for payment The Secretary may provide for the payment of any assessable payment provided by this section on an annual, monthly, or other periodic basis as the Secretary may prescribe.
+
+(3) Coordination with credits, etc. The Secretary shall prescribe rules, regulations, or guidance for the repayment of any assessable payment (including interest) if such payment is based on the allowance or payment of an applicable premium tax credit or cost-sharing reduction with respect to an employee, such allowance or payment is subsequently disallowed, and the assessable payment would not have been required to be made but for such allowance or payment.
+
+(4) Time for response The Secretary shall allow an applicable large employer at least 90 days from the date of the first letter which informs the employer of a proposed assessment of the employer shared responsibility payment under this section to respond to the proposed assessment before taking any further action with respect to such proposed assessment.
+
+(Added and amended Pub. L. 111–148, title I, § 1513(a), title X, §§ 10106(e)–(f)(2), 10108(i)(1)(A), Mar. 23, 2010, 124 Stat. 253, 910, 914; Pub. L. 111–152, title I, § 1003, Mar. 30, 2010, 124 Stat. 1033; Pub. L. 112–10, div. B, title VIII, § 1858(b)(4), Apr. 15, 2011, 125 Stat. 169; Pub. L. 114–41, title IV, § 4007(a)(1), July 31, 2015, 129 Stat. 465; Pub. L. 115–141, div. U, title IV, § 401(a)(2)(B), Mar. 23, 2018, 132 Stat. 1184; Pub. L. 118–168, § 4(a), Dec. 23, 2024, 138 Stat. 2587.)
+
+## Notes
+
+Editorial Notes
+
+References in TextThe Patient Protection and Affordable Care Act, referred to in subsecs. (a)(2), (b)(1)(B), and (c)(3)(B), (C), (5)(A)(ii), (6), is Pub. L. 111–148, Mar. 23, 2010, 124 Stat. 119. Sections 1302(c)(4), 1402, 1411, and 1412 of the Act are classified to sections 18022(c)(4), 18071, 18081, and 18082, respectively, of Title 42, The Public Health and Welfare. Section 10108 of the Act enacted former section 139D of this title and section 18101 of Title 42, amended sections 36B, 162, 4980H, 6056, and 6724 of this title and section 218b of Title 29, Labor, and enacted provisions set out as notes under sections 36B, 162, 4980H, and 6056 of this title and former section 139D of this title. For complete classification of this Act to the Code, see Short Title note set out under section 18001 of Title 42 and Tables.
+
+Amendments2024—Subsec. (d)(4). Pub. L. 118–168 added par. (4). 2018—Subsec. (c)(2)(F). Pub. L. 115–141 substituted “Department of Veterans Affairs” for “Veterans Administration” in heading. 2015—Subsec. (c)(2)(F). Pub. L. 114–41 added subpar. (F). 2011—Subsec. (b)(3). Pub. L. 112–10 struck out par. (3). Text read as follows: “No assessable payment shall be imposed under paragraph (1) for any month with respect to any employee to whom the employer provides a free choice voucher under section 10108 of the Patient Protection and Affordable Care Act for such month.” 2010—Subsec. (b). Pub. L. 111–152, § 1003(d), redesignated subsec. (c) as (b) and struck out former subsec. (b) which related to large employers with enrollment waiting periods exceeding 60 days. Pub. L. 111–148, § 10106(e), amended subsec. (b) generally. Prior to amendment, subsec. (b) related to large employers with enrollment waiting periods exceeding 30 days. Subsec. (c). Pub. L. 111–152, § 1003(d), redesignated subsec. (d) as (c). Former subsec. (c) redesignated (b). Subsec. (c)(1). Pub. L. 111–152, § 1003(b)(1), substituted “an amount equal to 1⁄12 of $3,000” for “400 percent of the applicable payment amount” in concluding provisions. Subsec. (c)(3). Pub. L. 111–148, § 10108(i)(1)(A), added par. (3). Subsec. (d). Pub. L. 111–152, § 1003(d), redesignated subsec. (e) as (d). Former subsec. (d) redesignated (c). Subsec. (d)(1). Pub. L. 111–152, § 1003(b)(2), substituted “$2,000” for “$750”. Subsec. (d)(2)(D). Pub. L. 111–152, § 1003(a), amended subpar. (D) generally. Prior to amendment, text read as follows: “In the case of any employer the substantial annual gross receipts of which are attributable to the construction industry— “(i) subparagraph (A) shall be applied by substituting ‘who employed an average of at least 5 full-time employees on business days during the preceding calendar year and whose annual payroll expenses exceed $250,000 for such preceding calendar year’ for ‘who employed an average of at least 50 full-time employees on business days during the preceding calendar year’, and “(ii) subparagraph (B) shall be applied by substituting ‘5’ for ‘50’.” Pub. L. 111–148, § 10106(f)(2), added subpar. (D). Subsec. (d)(2)(E). Pub. L. 111–152, § 1003(c), added subpar. (E). Subsec. (d)(4)(A). Pub. L. 111–148, § 10106(f)(1), inserted “, with respect to any month,” after “means”. Subsec. (d)(5)(A). Pub. L. 111–152, § 1003(b)(3), substituted “subsection (b) and paragraph (1)” for “subsection (b)(2) and (d)(1)” in introductory provisions. Subsec. (e). Pub. L. 111–152, § 1003(d), redesignated subsec. (e) as (d).
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 2024 AmendmentPub. L. 118–168, § 4(b), Dec. 23, 2024, 138 Stat. 2587, provided that: “The amendment made by this section [amending this section] shall apply to assessments proposed in taxable years beginning after the date of the enactment of this Act [Dec. 23, 2024].”
+
+Effective Date of 2015 AmendmentPub. L. 114–41, title IV, § 4007(a)(2), July 31, 2015, 129 Stat. 466, provided that: “The amendment made by this subsection [amending this section] shall apply to months beginning after December 31, 2013.”
+
+Effective Date of 2011 AmendmentAmendment by Pub. L. 112–10 effective as if included in the provisions of, and the amendments made by, the provisions of Pub. L. 111–148 to which it relates, see section 1858(d) of Pub. L. 112–10, set out as a note under section 36B of this title.
+
+Effective Date of 2010 AmendmentPub. L. 111–148, title X, § 10106(f)(3), Mar. 23, 2010, 124 Stat. 911, provided that: “The amendment made by paragraph (2) [amending this section] shall apply to months beginning after December 31, 2013.” Pub. L. 111–148, title X, § 10108(i)(1)(B), Mar. 23, 2010, 124 Stat. 914, provided that: “The amendment made by this paragraph [amending this section] shall apply to months beginning after December 31, 2013.”
+
+Effective DatePub. L. 111–148, title I, § 1513(d), Mar. 23, 2010, 124 Stat. 256, provided that: “The amendments made by this section [enacting this section] shall apply to months beginning after December 31, 2013.”

legal/us/code/title-26/chapter-43/section-4980i.md

@@ -0,0 +1,37 @@
+---
+type: "LegalText"
+title: "26 U.S.C. § 4980I"
+description: "Repealed. Pub. L. 116–94, div. N, title I, § 503(a), Dec. 20, 2019, 133 Stat. 3119]"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 26
+title_name: "INTERNAL REVENUE CODE"
+chapter_number: "43"
+chapter_name: "QUALIFIED PENSION, ETC., PLANS"
+section: "4980I"
+citation: "26 U.S.C. § 4980I"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
+source_identifier: "/us/usc/t26/s4980I"
+source_file: "data/legal/raw/us/code/title-26/usc26.xml"
+source_hash: "2e6c647b4f4b80c5d4657a29c9ceb6e293f1be1e34e78e2de58a9b83572847ab"
+raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
+text_hash: "6727b1dc781d86e3bd0114a322cbee169b60922c40002ecccd55c09e822c668f"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 26 U.S.C. § 4980I - Repealed. Pub. L. 116–94, div. N, title I, § 503(a), Dec. 20, 2019, 133 Stat. 3119]
+
+## Notes
+
+Section, added and amended Pub. L. 111–148, title IX, § 9001(a), title X, § 10901(a), (b), Mar. 23, 2010, 124 Stat. 847, 1015, 1016; Pub. L. 111–152, title I, § 1401(a), Mar. 30, 2010, 124 Stat. 1059; Pub. L. 114–113, div. P, title I, §§ 101(b), 102, Dec. 18, 2015, 129 Stat. 3037; Pub. L. 114–255, div. C, title XVIII, § 18001(a)(4), Dec. 13, 2016, 130 Stat. 1342; Pub. L. 115–97, title I, § 11002(d)(12), Dec. 22, 2017, 131 Stat. 2062; Pub. L. 115–141, div. U, title IV, § 401(a)(237), (238), Mar. 23, 2018, 132 Stat. 1195, related to excise tax on high cost employer-sponsored health coverage.
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of RepealRepeal applicable to taxable years beginning after Dec. 31, 2019, see section 503(c) of Pub. L. 116–94, set out as an Effective Date of 2019 Amendment note under section 6051 of this title.