PUBLIC LAW 95-600—NOV. 6, 1978 benefit of such individual) not later than the 60th day after he receives the payment or distribution." (2) Subparagraph (C) of section 409(b)(3) is amended— (A) by striking out "or an annuity plan described in section 403(a)" in the first sentence and inserting in lieu thereof "an annuity plan described in section 403(a), or an annuity contract described in section 403(b)", and (B) by adding at the end thereof the following new sentence: This subparagraph does not apply in the case of a transfer to an annuity contract described in section 403(b) unless no part of the value of such proceeds is attributable to any source other than a rollover contribution from such an annuity contract." (3) Sections 219(b)(4), 220(b)(5), 408(a)(1), 409(a)(4), and 4973(b)(1)(A) are each amended by inserting "403(b)(8)," after "403(a)(4)," each place it appears. (4) Section 2039(e) is amended by inserting after "403(a)(4)," the following: "section 403(b)(8) (but only to the extent such contribution is attributable to a distribution from a contract described in subsection (c)(3)),". (5) Section 4973(c)(1) is amended by inserting after "account" the following: "(other than a rollover contribution described in section 403(b)(8), 408(d)(3)(A)(iii), or 409(d)(3)(C))". (d) EFFECTIVE DATE.—The amendments made by this section shall apply to distributions or transfers made after December 31, 1978, in taxable years beginning after such date.
92 STAT. 2803
26 USC 409. 26 USC 403.
26 USC 219, 220, 408, 409, 4973. 26 USC 2039.
26 USC 4973. 26 USC 403 note.
SEC. 157. INDIVIDUAL RETIREMENT ACCOUNT TECHNICAL CHANGES. (a) EXTENSION OF PERIOD FOR MAKING INDIVIDUAL RETIREMENT PLAN CONTRIBUTIONS.— (1) AMENDMENT OF SECTION 219(C)(3).—Paragraph (3) of section
26 USC 219.
219(c) (relating to time when contributions deemed made in the case of retirement savings) is amended by striking out "not later than 45 days after the end of such taxable year" and inserting in lieu thereof "not later than the time prescribed by law for filing the return for such taxable year (including extensions thereof)'. (2) AMENDMENT OF SECTION 220(c)(4).—Paragraph (4) of section 26 USC 220. 220(c) (relating to time when contributions deemed made in the case of retirement savings for certain married individuals) is amended by striking out "not later than 45 days after the end of such taxable year" and inserting in lieu thereof "not later than the time prescribed by law for filing the return for such taxable year (including extensions thereof)". (3) EFFECTIVE DATE.—The amendments made by this subsection 26 USC 219 shall apply to taxable years beginning after December 31, 1977. note. (b) EXCESS CONTRIBUTIONS MAY B E DEDUCTED IN SUBSEQUENT YEAR FOR WHICH THERE IS AN UNUSED LIMITATION.— (1) AMENDMENT OF SECTION 219.—Subsection (c) of section 219
(relating to definitions and special rules for retirement savings) is amended by adding at the end thereof the following new paragraph: "(5) EXCESS CONTRIBUTIONS TREATED AS CONTRIBUTION MADE DURING SUBSEQUENT YEAR FOR WHICH THERE IS AN UNUSED LIMITATION.—
"(A) IN GENERAL.—If for the taxable year the maximum amount allowable as a deduction under this section exceeds the amount contributed, then the taxpayer shall be treated
26 USC 219
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