Page:United States Statutes at Large Volume 98 Part 1.djvu/913

 PUBLIC LAW 98-369—JULY 18, 1984

98 STAT. 865

"(4) AGGREGATION RULES.—For purposes of this subsection— "(A) AGGREGATION OF PLANS.—At the election of the em-

ployer, 2 or more plans of such employer may be treated as 1 plan. "(B) TREATMENT OF RELATED EMPLOYERS.—Rules similar to the rules of subsections (b), (c), (m), and (n) of section 414 • -" shall apply. For purposes of the preceding sentence, section 414(n) shall be applied without regard to paragraph (5). "(5) HIGHLY COMPENSATED INDIVIDUAL.—For purposes of this subsection, the term 'highly compensated individual' has the meaning given such term by section 105(h)(5). For purposes of the preceding sentence, section 105(h)(5) shall be applied by substituting '10 percent' for '25 percent'. "(c) REQUIREMENT THAT ORGANIZATION NOTIFY SECRETARY THAT IT Is APPLYING FOR TAX-EXEMPT STATUS.—

"(1) IN GENERAL.—An organization shall not be treated as an organization described in paragraph (9), (17), or (20) of section 501(c)— "(A) unless it has given notice to the Secretary, in such manner as the Secretary may by regulations prescribe, that it is applying for recognition of such status, or "(B) for any period before the giving of such notice, if such notice is given after the time prescribed by the Secretary by regulations for giving notice under this subsection. "(2) SPECIAL RULE FOR EXISTING ORGANIZATIONS.—In the case of any organization in existence on the date of the enactment of the Tax Reform Act of 1984, the time for giving notice under Ante, p. 494. paragraph (1) shall not expire before the date 1 year after such date of the enactment." (b) CLERICAL AMENDMENT.—The table of sections for part I of subchapter F of chapter 1 is amended by adding at the end thereof the following new item: "Sec. 505. Additional requirements for organizations described in paragraph (9), (17), or (20) of section 501(c)."

(c) EFFECTIVE DATE.— 26 USC 505 note. (1) IN GENERAL.—The amendments made by this section shall apply to years beginning after December 31, 1984. (2) TREATMENT OF CERTAIN BENEFITS IN PAY STATUS AS OF

JANUARY 1, 1985.—For purposes of determining whether a plan meets the requirements of section 5O50b) of the Internal Revenue Code of 1954 (as added by subsection (a)), there may (at the Ante, p. 864. election of the employer) be excluded from consideration all disability or severance payments payable to individuals who are in pay status as of January 1, 1985. The preceding sentence shall not apply to any payment to the extent such payment is increased by any plan amendment adopted after June 22, 1984.

Subtitle B—Provisions Relating to Pension Plans SEC. 521. REQUIRED DISTRIBUTIONS. (a) QuAUFiED P E N S I O N P L A N S. —

(1) IN GENERAL.—Paragraph (9) of section 401(a) (relating to 26 USC 401. required distributions), as in effect before the amendments

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