Page:United States Statutes at Large Volume 94 Part 1.djvu/255

 PUBLIC LAW 96-222—APR. 1, 1980

94 STAT. 205

"(i) any portion of a qualifying rollover distribution attributable to an employee is paid to the spouse of the employee after the employee's death,". (D) EXTENSION OF TRANSITIONAL RULE.—Subparagraph (B)

of section 157(h)(3) of the Revenue Act of 1978 (relating to 92 Stat. 2803. transitional rule for removal of certain requirements) is 26 USC 402 note. amended— (i) by striking out "any payment" and inserting in lieu thereof "any payment made during 1978", and (ii) by striking out "December 31, 1978" and inserting in lieu thereof "December 31, 1980". (E) CLERICAL AMENDMENTS.—

(i) Clause (iii) of section 402(a)(6)(D) (relating to sales of 26 USC 402. distributed property) is amended by striking out "many designate" and inserting in lieu thereof "may designate". (ii) Subparagraph (B) of section 408(d)(5) is amended 26 USC 408. by striking out all that follows clause (i) and inserting in lieu thereof the following: "(ii) the information was erroneous, subparagraph (A) shall be applied by increasing the dollar limit set forth therein by that portion of the excess contribution which was attributable to such information." (iii) Paragraph (20) of section 401(a)(1) is amended by 26 USC 401. striking out "makes a payment or distribution described in section 402(a)(5)(i) or 403(a)(4)(i)" and inserting in lieu thereof "makes a qualifying rollover distribution (determined as if section 402(a)(5)(D)(i) did not contain subclause (II) thereof) described in section 402(a)(5)(A)(i) or 403(a)(4)(A)(i)". (b) EFFECTIVE DATES.— (1) SPECIAL EFFECTIVE DATES.— (A) SUBSECTION (axi).—The amendment made by subsec-

26 USC 43 note.

tion (a)(1) shall apply to taxable years beginning after December 31, 1977. (B) SUBSECTION (aK2).—The amendments made by sub- 26 USC 602 note. paragraphs (A) and (B) of subsection (a)(2) shall apply to payments for months beginning after December 31, 1979. (C) DEFINITION OF QUALIFYING EMPLOYER SECURITIES.—The 26 USC 4975 amendment made by subparagraph (C) of subsection (a)(6) "°*^^shall apply to stock acquired after December 31, 1979. (D) COORDINATION WITH SECTION 691.—The amendment 26 USC 691 note. made by subsection (a)(7) shall apply with respect to the estates of decedents dying after the date of the enactment of this Act. (E) CONTRIBUTIONS UNDER SIMPLIFIED EMPLOYEE PENSION.— 26 USC 3i2i The amendments made by subparagraph (B) of subsection ^°^^(a)(10) shall apply to payments made on or after January 1, 1979. (F) PENALTY FOR FAILURE TO FURNISH REPORTS.—The 26 USC 6693 amendment made by subparagraph (I) of subsection (a)(10) "°*®shall apply with respect to failures occuring after the date of the enactment of this Act. (G) COORDINATION WITH SECTION 415.—The amendment 26 USC 415 note. made by subparagraph (I) of subsection (a)(10) shall apply to taxable years beginning after the date of the enactment of this Act. (2) GENERAL EFFECTIVE DATE.— For general effective date, see section 201.

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