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Internal Revenue Code, § 418A. Notice Of Reorganization And Funding Requirements [Repealed]

Editor's Note: Pub. L. 113-235, Div. O, Sec. 108(b)(1), repealed Sec. 418A, effective for plan years beginning after December 31, 2014.
I.R.C. § 418A(a) Notice Requirement
I.R.C. § 418A(a)(1) In General
If—
I.R.C. § 418A(a)(1)(A)
a multiemployer plan is in reorganization for a plan year, and
I.R.C. § 418A(a)(1)(B)
section 418B would require an increase in contributions for such plan year,
the plan sponsor shall notify the persons described in paragraph (2) that the plan is in reorganization and that, if contributions to the plan are not increased, accrued benefits under the plan may be reduced or an excise tax may be imposed (or both such reduction and imposition may occur).
I.R.C. § 418A(a)(2) Persons To Whom Notice Is To Be Given
The persons described in this paragraph are—
I.R.C. § 418A(a)(2)(A)
each employer who has an obligation to contribute under the plan (within the meaning of section 4212(a) of the Employee Retirement Income Security Act of 1974), and
I.R.C. § 418A(a)(2)(B)
each employee organization which, for purposes of collective bargaining, represents plan participants employed by such an employer.
I.R.C. § 418A(a)(3) Overburden Credit Not Taken Into Account
The determination under paragraph (1)(B) shall be made without regard to the overburden credit provided by section 418C.
I.R.C. § 418A(b) Additional Requirements
The Pension Benefit Guaranty Corporation may prescribe additional or alternative requirements for assuring, in the case of a plan with respect to which notice is required by subsection (a)(1), that the persons described in subsection (a)(2)—
I.R.C. § 418A(b)(1)
receive appropriate notice that the plan is in reorganization,
I.R.C. § 418A(b)(2)
are adequately informed of the implications of reorganization status, and
I.R.C. § 418A(b)(3)
have reasonable access to information relevant to the plan's reorganization status.
(Added by Pub. L. 96-364, title II, 202(a), Sept. 26, 1980, 94 Stat. 1274; repealed by Pub. L. 113-235, Div. O, title I, Sec. 108(b)(1), Dec. 16, 2014.)
BACKGROUND NOTES
AMENDMENT
2014 - Pub. L. 113-235, Div. O, Sec. 108(b)(1), repealed Sec. 418A.
EFFECTIVE DATE OF REPEAL
Repeal by Pub. L. 113-235, Div. O, Sec. 108(b)(1), effective for plan years beginning after December 31, 2014.
EFFECTIVE DATE
Section 210 of title II of Pub. L. 96-364 provided that:
“(a) Except as otherwise provided in this section, the amendments made by this title [amending sections 401, 404, 411 to 414, 4971, and 4975 of this title] shall take effect on the date of the enactment of this Act [Sept. 26, 1980].
“(b) Subpart C of part I of subchapter D of chapter 1 of such Code (as added by this Act) [sections 418 to 418E of this title] shall take effect, with respect to each plan, on the first day of the first plan year beginning on or after the earlier of--
“(1) the date on which the last collective-bargaining agreement providing for employer contributions under the plan, which was in effect on the date of the enactment of this Act [Sept. 26, 1980], expires, without regard to extensions agreed to after such date of enactment, or
“(2) 3 years after the date of the enactment of this Act [Sept. 26, 1980].
“(c) The amendments made by section 209 [enacting section 194 of this title, and amending sections 501 and 4975 of this title] shall apply to taxable years ending after the date of the enactment of this Act [Sept. 26, 1980].”