98 STAT. 1450
PUBLIC LAW 98-397—AUG. 23, 1984 "(B) if applicable, the provisions of subsections (a)(2) and (e) of this section. "(2) DEFINITIONS.—For purposes of this subsection, the terms 'qualifying rollover distribution' and 'eligible retirement plan* have the respective meanings given such terms by subsection (a)(5)(E).". (b) PENALTY FOR FAILURE TO PROVIDE WRITTEN EXPLANATION.—
Ante, p. 963. 26 USC 6652.
Section 6652 (relating to penalty for failure to file certain information returns, registration statements, etc.) is amended by redesignating subsection (j) as subsection (k) and by inserting after subsection (i) the following new subsection: "(j) FAILURE TO GIVE WRITTEN EXPLANATION TO RECIPIENTS OF CERTAIN QUALIFYING ROLLOVER DISTRIBUTIONS.—In the case of each
Ante, p. 1449.
failure to provide a written explanation as required by section 402(f), at the time prescribed therefor, unless it is shown that such failure is due to reasonable cause and not to willful neglect, there shall be paid, on notice and demand of the Secretary and in the same manner as tax, by the person failing to provide such written explanation, an amount equal to the $10 for each such failure, but the total amount imposed on such person for all such failures during any calendar year shall not exceed $5,000.".
TITLE III—GENERAL PROVISIONS SEC. 301. TREATMENT OF CERTAIN PLAN AMENDMENTS AND ACTUARIAL ASSUMPTIONS.
26 USC 411.
(a) CERTAIN PLAN AMENDMENTS TREATED AS REDUCING BENEFITS.— (1) AMENDMENT OF INTERNAL REVENUE CODE OF 1954.—Para-
graph (6) of section 411(d) of the Internal Revenue Code of 1954 (relating to accrued benefit not to be decreased by amendment) is amended to read as follows:
"(6) ACCRUED BENEFIT NOT TO BE DECREASED BY AMENDMENT.—
"(A) IN GENERAL.—A plan shall be treated as not satisfying the requirements of this section if the accrued benefit of a participant is decreased by an amendment of the plan, other than an amendment described in section 412(c)(8), or section 4281 of the Employee Retirement Income Security Act of 1974.
26 USC 412. 29 USC 1441.
"(B)
.
TREATMENT OF CERTAIN PLAN AMENDMENTS.—For
purposes of subparagraph (A), a plan amendment which has the effect of^ "(i) eliminating or reducing an early retirement benefit or a retirement-type subsidy (as defined in regulations), or "(ii) eliminating an optional form of benefit, with respect to benefits attributable to service before the amendment shall be treated as reducing accrued benefits. In the case of a retirement-type subsidy, the preceding sentence shall apply only with respect to a participant who satisfies (either before or after the amendment) the preamendment conditions for the subsidy. The Secretary may by regulations provide that this subparagraph shall not apply to a plan amendment described in clause (ii) (other than a plan amendment having an effect described in clause (i)).".
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