970 ^^ "^^ ^'*°Ante, p. 958.
26 USC 6047.
Ante, p. 959. ferves°" ^" 26 USC 805.
26 USC 72.
26 USC 801.
PUBLIC LAW 93-406-SEPT. 2, 1974
[88 STAT.
(Y) Section 3401(a) (12) (relating to exemption from collection of income tax at source on certain wages) is amended by adding at the end thereof the following new subparagraph: " (D) for a pajmcut described in section 219(a) if, at the time of such payment, it is reasonable to believe that the employee will be entitled to a deduction under such section for payment; or", (8) Section 6047 (relating to information relating to certain trusts and annuity and bond purchase plans) is amended by redesignating subsection (d) as subsection (e) and by inserting after subsection (c) the following new subsection: " (d) OTHER PROGRAMS.—To the extent provided by regulations prescribed by the Secretary or his delegate, the provisions of this section apply with respect to any payment described in section 219(a) g^j^^j ^Q trausactious of any trust described in section 408(a) or under an individual retirement annuity described in section 408(b).". (9) Section 805(d)(1) (relating to definition of pension plan reserves) is amended by striking out "or" at the end of subparagraph (C), by striking out "foregoing." at the end of subparagraph (D) and inserting in lieu thereof "foregoing; or", and by adding at the end thereof the following new subparagraph: " (E) purchased under contracts entered into with trusts which (at the time the contracts were entered into) were individual retirement accounts described in section 408(a) or under contracts entered into with individual retirement annuities described in section 408(b)." ^iQ^ Section 72 (relating to annuities) is amended— (A) by inserting after "501 (a) " in subsection (m)(4)(A) ", an individual retirement amount described in section 408(a), an individual retirement annuity described in section 408(b)"._ (B) by striking out at the end of subsection (m)(6) "401 (c)(3) " and inserting in lieu thereof "401 (c)(3) and includes an individual for whose benefit an individual retirement account or annuity described in section 408(a) or (b) is maintained". (11) Section 801(g)(7) (relating to basis of assets held for qualified pension plan contracts) is amended by striking out "or (D) " and inserting in lieu thereof " (D), or (E) ". (h)
CLERTCAL AMENDMENTS.—
(1) The table of sections for part VII of subchapter B of chapter 1 is amended by striking out the item relating to section 219 and inserting in lieu thereof the following: "Sec. 219. Retirement savings. "Sec. 220. Cross references.'". (2) The table of sections for subpart A of part I of subchapter D of chapter 1 is amended by adding at the end thereof the following: "Sec. 408. Individual retirement accounts. "Sec. 409. Retirement bonds.". (3) The table of sections for chapter 43 is amended by inserting afte^" the item relating to section 4972 the following new items: "Sec. 4973. Tax on excess contributions to individual retirement accounts, certain 403(b) contracts, certain individual retirement annuities, and certain retirement bonds. "Sec. 4974. Tax on certain accumulations in individual retirement accounts. "Sec. 4975. Tax on prohibited transactions.".
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