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Internal Revenue Code, § 6058. Information Required In Connection With Certain Plans Of Deferred Compensation

I.R.C. § 6058(a) In General
Every employer who maintains a pension, annuity, stock bonus, profit-sharing, or other funded plan of deferred compensation described in part I of subchapter D of chapter 1, or the plan administrator (within the meaning of section 414(g)) of the plan, shall file an annual return stating such information as the Secretary may by regulations prescribe with respect to the qualification, financial conditions, and operations of the plan; except that, in the discretion of the Secretary, the employer may be relieved from stating in its return any information which is reported in other returns.
I.R.C. § 6058(b) Actuarial Statement In Case Of Mergers, Etc.
Not less than 30 days before a merger, consolidation, or transfer of assets or liabilities of a plan described in subsection (a) to another plan, the plan administrator (within the meaning of section 414(g)) shall file an actuarial statement of valuation evidencing compliance with the requirements of section 401(a)(12).
I.R.C. § 6058(c) Employer
For purposes of this section, the term “employer” includes a person described in section 401(c)(4) and an individual who establishes an individual retirement plan.
I.R.C. § 6058(d) Coordination With Income Tax Returns, Etc.
An individual who establishes an individual retirement plan shall not be required to file a return under this section with respect to such plan for any taxable year for which there is—
I.R.C. § 6058(d)(1)
no special IRP tax, and
I.R.C. § 6058(d)(2)
no plan activity other than—
I.R.C. § 6058(d)(2)(A)
the making of contributions (other than rollover contributions), and
I.R.C. § 6058(d)(2)(B)
the making of distributions.
I.R.C. § 6058(e) Special IRP Tax Defined
For purposes of this section, the term “special IRP tax” means a tax imposed by—
I.R.C. § 6058(e)(1)
section 4973, or
I.R.C. § 6058(e)(2)
section 4974.
I.R.C. § 6058(f) Cross References
For provisions relating to penalties for failure to file a return required by this section, see section 6652(e).
For coordination between the Department of the Treasury and the Department of Labor with respect to the information required under this section, see section 3004 of title III of the Employee Retirement Income Security Act of 1974.
(Added Pub. L. 93-406, title II, 1031(a), Sept. 2, 1974, 88 Stat. 945, and amended Pub. L. 94-455, title XIX, 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 95-600, title I, 157(k)(1), Nov. 6, 1978, 92 Stat. 2809; Pub. L. 98-369, div. A, title IV, 491(d)(48), July 18, 1984, 98 Stat. 852; Pub. L. 99-514, title XV, 1501(d)(1)(D), Oct. 22, 1986, 100 Stat. 2740; Pub. L. 115-141, Div. U, title IV, Sec. 401(a)(264), Mar. 23, 2018, 132 Stat. 348.)
BACKGROUND NOTES
AMENDMENTS
2018--Subsec. (e)(1)-(3). Pub. L. 115-141, Div. U, Sec. 401(a)(264), amended subsec. (e) by repealing par. (1) and redesignating pars. (2) and (3) as new pars. (1) and (2). Before amendment, par. (1) read as follows:
“(1) section 408(f),”
1986--Subsec. (f). Pub. L. 99-514 substituted “section 6652(e)” for “section 6652(f)”.
1984--Subsec. (e). Pub. L. 98-369 struck out par. (2) which included a tax imposed by section 409(c) within term “special IRP tax”, and redesignated pars. (3) and (4) as (2) and (3), respectively.
1978--Subsec. (c). Pub. L. 95-600 substituted “an individual retirement plan” for “an individual retirement account or annuity described in section 408”.
Subsecs. (d) to (f). Pub. L. 95-600 added subsecs. (d) and (e) and redesignated former subsec. (d) as (f).
1976--Subsec. (a). Pub. L. 94-455 struck out “or his delegate” after “Secretary”.
EFFECTIVE DATE OF 2018 AMENDMENT
Amendment by Pub. L. 115-141, Div. U, Sec. 401(a)(264), effective March 23, 2018.
EFFECTIVE DATE OF 1986 AMENDMENT
Amendment by Pub. L. 99-514 applicable to returns the due date for which (determined without regard to extensions) is after Dec. 31, 1986, see section 1501(e) of Pub. L. 99-514, set out as an Effective Date note under section 6721 of this title.
EFFECTIVE DATE OF 1984 AMENDMENT
Amendment by Pub. L. 98-369 applicable to obligations issued after Dec. 31, 1983, see section 491(f)(1) of Pub. L. 98-369, set out as a note under section 62 of this title.
EFFECTIVE DATE OF 1978 AMENDMENT
Section 157(k)(3) of Pub. L. 95-600 provided that: “The amendments made by paragraph (1) [amending this section] shall apply to returns for taxable years beginning after December 31, 1977. The amendment made by paragraph (2) [amending section 7701 of this title] shall apply to taxable years beginning after December 31, 1974.”
EFFECTIVE DATE
Section effective Sept. 2, 1974, except that the requirements of subsec. (a) shall apply only with respect to plan years beginning after Sept. 2, 1974, see section 1034 of Pub. L. 93-406, set out as a note under section 6057 of this title.
COMBINED ANNUAL REPORT FOR GROUP OF PLANS
Section 202 of Pub. L. 116-94, Div. O, provided that:
“(a) IN GENERAL.—The Secretary of the Treasury and the Secretary of Labor shall, in cooperation, modify the returns required under section 6058 of the Internal Revenue Codeof 1986 and the reports required by section 104 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1024) so that all members of a group of plans described in subsection (c) may file a single aggregated annual return or report satisfying the requirements of both such sections.
“(b) ADMINISTRATIVE REQUIREMENTS.—In developing the consolidated return or report under subsection (a), the Secretary of the Treasury and the Secretary of Labor may require such return or report to include any information regarding each plan in the group as such Secretaries determine is necessary or appropriate for the enforcement and administration of the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 and shall require such information as will enable a participant in a plan to identify any aggregated return or report filed with respect to the plan.
“(c) PLANS DESCRIBED.—A group of plans is described in this subsection if all plans in the group—
“(1) are individual account plans or defined contribution plans (as defined in section 3(34) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002(34)) or in section 414(i) of the Internal Revenue Code of 1986);
“(2) have—
“(A) the same trustee (as described in section 403(a) of such Act (29 U.S.C. 1103(a)));
“(B) the same one or more named fiduciaries (as described in section 402(a) of such Act (29 U.S.C. 1102(a)));
“(C) the same administrator (as defined in section 3(16)(A) of such Act (29 U.S.C. 1002(16)(A))) and plan administrator (as defined in section 414(g) of the Internal Revenue Code of 1986); and
“(D) plan years beginning on the same date; and
“(3) provide the same investments or investment options to participants and beneficiaries.
“A plan not subject to title I of the Employee Retirement Income Security Act of 1974 shall be treated as meeting the requirements of paragraph (2) as part of a group of plans if the same person that performs each of the functions described in such paragraph, as applicable, for all other plans in such group performs each of such functions for such plan.
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“(e) EFFECTIVE DATE.—The modification required by subsection (a) shall be implemented not later than January 1, 2022, and shall apply to returns and reports for plan years beginning after December 31, 2021.”