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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (1)

Official Titles

Official Titles - Senate

Official Titles as Introduced

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.


Actions Overview (1)

Date
02/06/2019Introduced in Senate

All Actions (1)

Date
02/06/2019Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Action By: Senate

Cosponsors (1)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Collins, Susan M. [R-ME]* 02/06/2019

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Health, Education, Labor, and Pensions02/06/2019 Referred to

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Subjects (4)


Latest Summary (1)

There is one summary for S.354. View summaries

Shown Here:
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.