I.R.C. § 45T(a) In General —
For purposes of section 38, in the case of an eligible employer, the retirement auto-enrollment
credit determined under this section for any taxable year is an amount equal to—
I.R.C. § 45T(a)(1) —
$500 for any taxable year occurring during the credit period, and
I.R.C. § 45T(a)(2) —
zero for any other taxable year.
I.R.C. § 45T(b) Credit Period —
For purposes of subsection (a)—
I.R.C. § 45T(b)(1) In General —
The credit period with respect to any eligible employer is the 3-taxable-year period
beginning with the first taxable year for which the employer includes an eligible
automatic contribution arrangement (as defined in section 414(w)(3)) in a qualified
employer plan (as defined in section 4972(d)) sponsored by the employer.
I.R.C. § 45T(b)(2) Maintenance Of Arrangement —
No taxable year with respect to an employer shall be treated as occurring within the
credit period unless the arrangement described in paragraph (1) is included in the
plan for such year.
I.R.C. § 45T(c) Eligible Employer —
For purposes of this section, the term “eligible employer” has the meaning given such
term in section 408(p)(2)(C)(i).
(Added by Pub. L. 116-94, Div. O, title I, Sec. 105(a), Dec. 20, 2019.)
BACKGROUND NOTES
EFFECTIVE DATE
Effective for taxable years beginning after December 31, 2019.
