100 STAT. 2502
PUBLIC LAW 99-514—OCT. 22, 1986
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«(Q employees are provided reasonable notification of benefits available in the plan, I <<^j)^ such plan is maintained for the exclusive benefit of employees, and "(E) such plan was established with the intention of being maintained for an indefinite period of time. Such inclusion shall be in lieu of any inclusion under subsection (a) with respect to such plan. "(2) PLANS TO WHICH SUBSECTION APPLIES.—This subsection shall apply to— "(A) any statutory employee benefit plan, "(B) a qualified tuition reduction program (within the
meaning of section 117(d)), "(C) a cafeteria plan (within the meaning of section 125), "(D) a fringe benefit program providing no-additional-cost services, qualified employee discounts, or employer-operr ated eating facilities which are excludable from gross " income under section 132, and "(E) a plan to which section 505 applies.
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"(3) SPECIAL RULE FOR DETERMINING INCLUSION.—For purposes
of paragraph (1), an employee's employer-provided belnefit shall be the value of the benefits provided to the employee. "(4) PLANS TO WHICH CONTRIBUTIONS ARE MADE BY MORE THAN
1 EMPLOYER.—For purposes of paragraph (1)(D), in the case of a plan to which contributions are made by more than 1 employer, each employer shall be treated as employing employees of all other employers. "(1) REPORTING REQUIREMENTS.—
"(1) IN GENERAL.—If an employee of an employer maintaining a plan is required to include any amount in gross income under this section for any plan year ending with or within a calendar year, the employer shall separately include such amount on the statement which the employer is required to provide the employee under section 6051(a) (and any statement required to be furnished under section 6051(d)). ,
"(2) PENALTY.—
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"For penalty for failing to report, see section 6652(1).
"(m) REGULATIONS.—The Secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this section, including regulations providing for appropriate adjustments in case of individuals not employees of the employer throughout the plan year." (b) PENALTY FOR FAIUNG TO REPORT.—Section 6652 (relating to failure to file information returns, registration statements, etc.) is amended by redesignating subsection (1) as subsection (m) and by inserting after subsection (k) the following new subsection: "(1) INFORMATION BENEFITS.—
WITH
RESPECT
TO
INCLUDIBLE EMPLOYEE
"(1) IN GENERAL.—In the case of each failure to include any amount on any statement under section 6051(a) or 6051(d) which is required to be so included under section 89(1), there shall be paid, on notice and demand of the Secretary and in the same manner as tax, the amount determined under paragraph (2). "(2) AMOUNT OF ADDITIONAL TAX.—The amount determined under this paragraph shall be equal to the product of—
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