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L. 99-514, 1121(a)(1), amended section generally, substituting provisions imposing an excise tax on certain accumulations in qualified retirement plans for provisions imposing an excise tax on certain accumulations in individual retirement accounts and annuities.
If the amount distributed to a payee under any qualified retirement plan or any eligible deferred compensation plan (as defined in section 457(b)) for a calendar year is less than the required minimum distribution for that year, section 4974 imposes an excise tax on the payee for the taxable year beginning with or within the calendar year ...
See Code Section 4974—excise tax on certain accumulations in qualified retirement plans. Find IRS publication info and the full-text Sec. 4974 on Tax Notes.
Section 4974(c) provides, in part, that the term “qualified retirement plan” means (1) a plan described in section 401 (including a trust exempt from tax under section 501(a)), (2) an annuity plan described in section 403(a), (3) a
26 U.S.C. § 4974 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 4974. Excise tax on certain accumulations in qualified retirement plans. Current as of January 01, 2024 | Updated by FindLaw Staff. (a) General rule. --If the amount distributed during the taxable year of the payee under any qualified retirement plan or any eligible ...
17 kwi 2002 · substantially equal periodic payments within the meaning of § 72(t)(2)(A)(iv) of the Internal Revenue Code from an individual account under a qualified retirement plan. Section 72(t) provides for an additional income tax on early withdrawals from qualified retirement plans (as defined in § 4974(c)). Section 4974(c) provides, in part, that the
