All Information (Except Text) for S.354 - A bill to avoid duplicative annual reporting under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974, and for other purposes.116th Congress (2019-2020) |
|Sponsor:||Sen. Warner, Mark R. [D-VA] (Introduced 02/06/2019)|
|Committees:||Senate - Health, Education, Labor, and Pensions|
|Latest Action:||Senate - 02/06/2019 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (All Actions)|
This bill has the status Introduced
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- Passed Senate
- Passed House
- To President
- Became Law
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Actions Overview (1)
|02/06/2019||Introduced in Senate|
02/06/2019 Introduced in Senate
All Actions (1)
|02/06/2019||Read twice and referred to the Committee on Health, Education, Labor, and Pensions.|
Action By: Senate
02/06/2019 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
|Sen. Collins, Susan M. [R-ME]*||02/06/2019|
|Committee / Subcommittee||Date||Activity||Reports|
|Senate Health, Education, Labor, and Pensions||02/06/2019||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
Latest Summary (1)
Introduced in Senate (02/06/2019)
This bill requires the Department of the Treasury and the Department of Labor to cooperate to modify specified returns required for deferred compensation plans and other employee benefit plans to permit all members of a group of plans to file a single aggregated annual return or report satisfying the requirements of both the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA).
The requirement applies to a group in which all of the plans
- are individual account plans or defined contribution plans;
- have the same trustee, the same one or more named fiduciaries, the same administrator, and plan years beginning on the same date; and
- provide the same investments or investment options to participants and beneficiaries.
The bill also specifies that, for the purposes of applying the numerical limitations related to the electronic filing of returns for deferred compensation plans, each plan for which information is provided on the return must be treated as a separate return.