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I
116TH CONGRESS
2D SESSION
H. R. 6335
To waive required minimum distribution rules for retirement plans in 2020.
IN THE HOUSE OF REPRESENTATIVES
MARCH 23, 2020
Mr. BERGMAN (for himself and Mr. JOHN W. ROSE of Tennessee) introduced
the following bill; which was referred to the Committee on Ways and Means
A BILL
To waive required minimum distribution rules for retirement
plans in 2020.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. TEMPORARY WAIVER OF REQUIRED MINIMUM
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DISTRIBUTION RULES FOR CERTAIN RETIRE-
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MENT PLANS AND ACCOUNTS.
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(a) IN GENERAL.—Section 401(a)(9) of the Internal
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Revenue Code of 1986 is amended by adding at the end
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the following new subparagraph:
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‘‘(I) TEMPORARY WAIVER OF MINIMUM RE-
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QUIRED DISTRIBUTION.—
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‘‘(i) IN GENERAL.—The requirements
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of this paragraph shall not apply for cal-
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endar year 2020 to—
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‘‘(I) a defined contribution plan
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which is described in this subsection
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or in section 403(a) or 403(b),
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‘‘(II) a defined contribution plan
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which is an eligible deferred com-
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pensation plan described in section
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457(b) but only if such plan is main-
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tained by an employer described in
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section 457(e)(1)(A), or
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‘‘(III) an individual retirement
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plan.
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‘‘(ii)
SPECIAL
RULES
REGARDING
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WAIVER
PERIOD.—For purposes of this
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paragraph—
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‘‘(I) the required beginning date
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with respect to any individual shall be
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determined without regard to this
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subparagraph for purposes of applying
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this paragraph for calendar years
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after 2020, and
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‘‘(II) if clause (ii) of subpara-
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graph (B) applies, the 5-year period
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described in such clause shall be de-
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termined without regard to calendar
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year 2020.’’.
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(b) ELIGIBLE ROLLOVER DISTRIBUTIONS.—Section
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402(c)(4) of the Internal Revenue Code of 1986 (defining
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eligible rollover distribution) is amended by adding at the
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end the following new flush sentence:
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‘‘If all or any portion of a distribution during 2020
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is treated as an eligible rollover distribution but
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would not be so treated if the minimum distribution
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requirements under section 401(a)(9) had applied
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during 2020, such distribution shall not be treated
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as an eligible rollover distribution for purposes of
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section 401(a)(31) or 3405(c) or subsection (f) of
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this section.’’.
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(c) EFFECTIVE DATES.—
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(1) IN GENERAL.—The amendments made by
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this section shall apply for calendar years beginning
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after December 31, 2019.
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(2) PROVISIONS RELATING TO PLAN OR CON-
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TRACT AMENDMENTS.—
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(A) IN GENERAL.—If this paragraph ap-
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plies to any pension plan or contract amend-
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ment, such pension plan or contract shall not
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fail to be treated as being operated in accord-
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ance with the terms of the plan during the pe-
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riod described in subparagraph (B)(ii) solely be-
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cause the plan operates in accordance with this
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section.
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(B) AMENDMENTS TO WHICH PARAGRAPH
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APPLIES.—
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(i) IN
GENERAL.—This paragraph
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shall apply to any amendment to any pen-
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sion plan or annuity contract which—
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(I) is made pursuant to the
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amendments made by this section,
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and
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(II) is made on or before the last
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day of the first plan year beginning
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on or after January 1, 2022.
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In the case of a governmental plan, sub-
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clause (II) shall be applied by substituting
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‘‘2023’’ for ‘‘2022’’.
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(ii)
CONDITIONS.—This
paragraph
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shall not apply to any amendment unless
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during the period beginning on the effec-
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tive date of the amendment and ending on
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December 31, 2020, the plan or contract is
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operated as if such plan or contract
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amendment were in effect.
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Æ
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