Page:United States Statutes at Large Volume 100 Part 1.djvu/296

 100 STAT. 260

26 USC 501. Ante, p. 258. Ante, p. 237.

26 USC 402.

PUBLIC LAW 99-272—APR. 7, 1986

termination date) participants and beneficiaries under the terminated plan. "(2) CARRY-OVER OF MINIMAL PAYMENT AMOUNTS.—The corporation, or its designee under subsection (b), may withhold a payment to any person under this subsection in connection with any liability payment year (other than the last liability payment year with respect to which payments under paragraph (1) are payable) if such payment does not exceed $100. In any case in which such a payment is so withheld, the payment to such person in connection with the next following liability payment year shall be increased by the amount of such withheld payment. "(d) REGULATIONS.—The corporation may issue such regulations as it considers necessary to carry out the purposes of this section.". (b) TAX-EXEMPT STATUS FOR TRUSTS DESCRIBED IN SECTION 4049 OF ERISA.—Subsection (c) of section 501 of the Internal Revenue Code of 1954 (relating to list of tax-exempt organizations) is amended by adding at the end thereof the following new paragraph: "(24) A trust described in section 4049 of the Employee Retirement Income Security Act of 1974 (as in effect on the date of the enactment of the Single-Employer Pension Plan Amendments Act of 1986).". (c) ROLLOVERS OF PAYMENTS FROM TRUST ALLOWED.—Paragraph

(6) of section 402(a) of such Code (relating to special rollover rules) is amended by adding at the end thereof the following new subparagraph: "(G) PAYMENTS FROM CERTAIN PENSION PLAN TERMINATION TRUSTS.—If—

29 USC 1362 note.

29 USC 1362.

"(i) any amount is paid or distributed to a recipient from a trust described in section 501(c)(24), "(ii) the recipient transfers any portion of the property received in such distribution to an eligible retirement plan described in subclause (I) or (II) of paragraph (5)(E)(iv), and "(iii) in the case of a distribution of property other than money, the amount so transferred consists of the property distributed, then the portion of the distribution so transferred shall be treated as a distribution described in paragraph (5)(A).". (d) SPECIAL DELAYED PAYMENT RULE.—In the case of a distress termination under section 4041(c) of the Employee Retirement Income Security Act of 1974 (as amended by section 11009) pursuant to a notice of intent to terminate filed before January 1, 1987, no payment of liability otherwise payable as provided in section 4062(c)(2)(B) of such Act (as amended by this section) shall be required to be made before January 1, 1989. SEC. 11013. TREATMENT OF TRANSACTIONS TO EVADE LIABILITY; EFFECT OF CORPORATE REORGANIZATION,

(a) IN GENERAL.—Subtitle D of title IV is amended by adding at the end thereof the following new section: " T R E A T M E N T OF TRANSACTIONS TO EVADE LIABILITY; EFFECT OF CORPORATE REORGANIZATION

29 USC 1369.

4069. (a) TREATMENT OF TRANSACTIONS TO EVADE LIABILITY.—If a principal purpose of any person in entering into any transaction is to evade liability to which such person would be "SEC.

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