Page:United States Statutes at Large Volume 88 Part 1.djvu/993

 88 STAT. ]

PUBLIC LAW 93-406-SEPT. 2, 1974

949

(3) the requirements of section 6058(a) of such Code shall apply only with respect to plan years beginning after the date of the enactment of this Act, and (4) the amendments made by section 1032 shall take effect on January 1, 1978.

^"'«' P- ^^S.

PART 4—DECLARATORY JUDGMENTS RELATING TO QUALIFICATION OF CERTAIN RETIREMENT PLANS SEC. 1041. TAX COURT PROCEDURE.

(a) IN GENERAL.—Subchapter C of chapter 76 (relating to the Tax Court, is amended by adding at the end thereof the following new part: "PART IV—DECLARATORY JUDGMENTS RELATING TO QUALIFICATION OF CERTAIN RETIREMENT PLANS "Sec. 7476. Declaratory judgments. "SEC. 7476. DECLARATORY JUDGMENTS. " (a) CREATION OF REMEDY.—In a case of actual controversy involving— "(1) a determination by the Secretary or his delegate with respect to the initial qualification or continuing qualification of a retirement plan under subchapter D of chapter 1, or "(2) a failure by the Secretary or his delegate to make a determination with respect to— " ^ A) such initial qualification, or " (B) such continumg qualification if the controversy arises from a plan amendment or plan termination, upon the filing of an appropriate pleading, the United States Tax Court may make a declaration with respect to such initial qualification or continuing qualification. Any such declaration shall have the force and effect of a decision of the Tax Court and shall be reviewable as such. "(b)

LIMITATIONS.—

"(1) PETITIONER.—A pleading may be filed under this section only by a petitioner who is the employer, the plan administrator, an employee who has qualified under regulations prescribed by the Secretary or his delegate as an interested party for purposes of pursuing administrative remedies within the In|:ernal Revenue Service, or the Pension Benefit Guaranty Corporation. " (2) NOTICE.—For purposes of this section, the filing of a pleading by any petitioner may be held by the Tax Court to be premature, unless the petitioner establishes to the satisfaction of the court that he has complied with the requirements prescribed by regulations of the Secretary or his delegate with respect to notice to other interested parties of the filing of the request for a determination referred to in subsection (a). " (3) EXHAUSTION

OF ADMINISTRATE^

REMEDIES.—The

Tax

Court shall not issue a declaratory judgment or decree under this section in any proceeding unless it determines that the petitioner has exhausted administrative remedies available to him within the Internal Revenue Service. A petitioner shall not be deemed to have exhausted his administrative remedies with respect to a failure by the Secretary or his delegate to make a determination with respect to initial qualification or continuin.qr qualification of a retirement plan before the expiration of 270 days after the request for such determination was made.

38-194 O - 76 - 63 Pt. 1

26 USC 7476. '

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