88 STAT. 947 (3) Subsection (d) of section 6047 (relating to information 26 USC 6047. with respect to certain trusts and annuity and bond purchase plans) is amended to read as follows: "(a) CROSS REFERENCES.— "(1) For provisions relating to penalties for failure to file a return required by this section, see section 6652(f). "(2) For criminal penalty for furnishing fraudulent information, see SEC. 1032. DUTIES OF SECRETARY OF HEALTH, EDUCATION, AND Title XI of the Social Security Act (relating to general provisions) is amended by adding at the end of part A thereof the following new 42 USC 1320b. section: "NOTIFICATION OF SOCIAL SECURITY CLAIMANT WITH RESPECT TO DEFERRED VESTED BENEFITS "SEC. 1131. (a) Whenever "(1) the Secretary makes a finding of fact and a decision as to "(A) the entitlement of any individual to monthly benefits under section 202, 223, or 228, 42 USC 1320b-1. 42 USC 402, "(B) the entitlement of any individual to a lump-sum 423, 428. death payment payable under section 202 (i) on account of the death of any person to whom such individual is related by blood, marriage, or adoption, or "(C) the entitlement under section 226 of any individual 42 USC 426. to hospital insurance benefits under part A of title XVIII, or "(2) the Secretary is requested to do so "(A) by any individual with respect to whom the Secretary holds information obtained under section 6057 of the Internal Revenue Code of 1954, or "(B) in the case of the death of the individual referred to in subparagraph (A), by the individual who would be entitled to payment under section 204 (d) of this Act. he shall transmit to the individual referred to in paragraph (1) or the individual making the request under paragraph (2) any information, as reported by the employer, regarding any deferred vested benefit transmitted to the Secretary pursuant to such section 6057 with respect to the individual referred to in paragraph (1) or (2) (A) or the person on whose wages and self-employment income entitlement (or claim of entitlement) is based. Ante, p. 943. 42 USC 404. "(b) (1) For purposes of section 201(g) (1), expenses incurred in 42 USC 401. the administration of subsection (a) shall be deemed to be expenses incurred for the administration of title II. "(2) There are hereby authorized to be appropriated to the Federal Old-Age and Survivors Insurance Trust Fund for each fiscal year (commencing with the fiscal year ending June 30, 1974) such sums as the Secretary deems necessary on account of additional administrative expenses resulting from the enactment of the provisions of subsection (a)." SEC. 1033. REPORTS BY ACTUARIES. (a) REPORTS BY ACTUARIES.-Subpart E of part III of subchapter A of chapter 61 (relating to registration of and information concern ing pension, etc., plans) as added by section 1031(a) of this Act, is Ante, p. 943. amended by adding at the end thereof the following new section: "SEC. 6059. PERIODIC REPORT OF ACTUARY. "(a) GENERAL RULE.-The actuarial report described in subsection (b) shall be filed by the plan administrator (as defined in section 88 STAT. 948 Ante, pp. 925, 914. 26 USC 7701. Ante, p. 946. Ante, p. 947. 26 USC 6059 note. Ante, p. 841. 26 USC 6057 note. Ante, p. 943. 414(g) of each defined benefit plan to which section 412 applies, for "(2) a certification of the contribution necessary to reduce the accumulated funding deficiency (as defined in section 412(a)) to zero, "(3) a statement— "(A) that to the best of his knowledge the report is complete and accurate, and "(B) the requirements of section 412 (c) (relating to reasonable actuarial assumptions) have been complied with, "(4) such other information as may be necessary to fully and fairly disclose the actuarial position of the plan, and "(5) such other information regarding the plan as the Secretary or his delegate may by regulations require. "(c) TIME AND MANNER OF FILING.-The actuarial report and statement required by this section shall be filed at the time and in the manner provided by regulations prescribed by the Secretary or his delegate. "(d) CROSS REFERENCE. "For coordination between the Department of the Treasury and the Department of Labor with respect to the report required to be filed under this section, see section 3004 of title III of the Employee Retirement Income Security Act of 1974.". (b) ASSESSABLE PENALTIES.-Subchapter B of chapter 68 (relating to assessable penalties) is amended by adding at the end thereof the following new section: "SEC. 6692. FAILURE TO FILE ACTUARIAL REPORT. "The plan administrator (as defined in section 414(g)) of each defined benefit plan to which section 412 applies who fails to file the report required by section 6059 at the time and in the manner required by section 6059, shall pay a penalty of $1,000 for each such failure unless it is shown that such failure is due to reasonable cause." (c) CONSOLIDATION OF ACTUARIAL REPORTS.-The Secretary of the Treasury and the Secretary of Labor shall take such steps as may be necessary to assure coordination to the maximum extent feasible between the actuarial reports required by section 6059 of the Internal Revenue Code of 1954 and by section 103 (d) of title I of the Employee Retirement Income Security Act of 1974. (d) CLERICAL AMENDMENT.-The table of sections for subchapter B of chapter 68 is amended by adding at the end thereof the following new item: "Sec. 6692. Failure to file actuarial report.". SEC. 1034. EFFECTIVE DATES. This part shall take effect upon the date of the enactment of this Act; except that (1) the requirements of section 6059 of the Internal Revenue Code of 1954 shall apply only with respect to plan years to which part I of this title applies, (2) the requirements of section 6057 of such Code shall apply only with respect to plan years beginning after December 31, 1975, (3) the requirements of section 6058 (a) of such Code shall apply only with respect to plan years beginning after the date of the enactment of this Act, and (4) the amendments made by section 1032 shall take effect on January 1, 1978. PART 4-DECLARATORY JUDGMENTS RELATING TO SEC. 1041. TAX COURT PROCEDURE. Ante, p. 945. (a) IN GENERAL.-Subchapter C of chapter 76 (relating to the Tax 26 USC 7441. Court, is amended by adding at the end thereof the following new part: ‘PART IV—DECLARATORY JUDGMENTS RELATING TO QUALIFICATION OF CERTAIN RETIREMENT PLANS "Sec. 7476. Declaratory judgments. "SEC. 7476. DECLARATORY JUDGMENTS. "(a) CREATION OF REMEDY.-In a case of actual controversy involving "(1) a determination by the Secretary or his delegate with respect to the initial qualification or continuing qualification of a retirement plan under subchapter D of chapter 1, or "(2) failure by the Secretary or his delegate to make a determination with respect to "(A) such initial qualification, or "(B) such continuing qualification if the controversy arises from a plan amendment or plan termination, upon the filing of an appropriate pleading, the United States Tax Court may make a declaration with respect to such initial qualification or continuing qualification. Any such declaration shall have the force and effect of a decision of the Tax Court and shall be reviewable as such. "(b) LIMITATIONS.— "(1) PETITIONER.-A pleading may be filed under this section only by a petitioner who is the employer, the plan administrator, an employee who has qualified under regulations prescribed by the Secretary or his delegate as an interested party for purposes of pursuing administrative remedies within the Internal Revenue Service, or the Pension Benefit Guaranty Corporation. "(2) NOTICE. For purposes of this section, the filing of a pleading by any petitioner may be held by the Tax Court to be premature, unless the petitioner establishes to the satisfaction of the court that he has complied with the requirements prescribed by regulations of the Secretary or his delegate with respect to notice to other interested parties of the filing of the request for a determination referred to in subsection (a). "(3) EXHAUSTION OF ADMINISTRATIVE REMEDIES.-The Tax Court shall not issue a declaratory judgment or decree under this section in any proceeding unless it determines that the petitioner has exhausted administrative remedies available to him within the Internal Revenue Service. A petitioner shall not be deemed to have exhausted his administrative remedies with respect to a failure by the Secretary or his delegate to make a determination with respect to initial qualification or continuing qualification of a retirement plan before the expiration of 270 days after the request for such determination was made. 39-860 - 74-9 88 STAT. 950 26 USC 401. 26 USC 403. 26 USC 405. 26 USC 7451. Ante, p. 949. “(4) PLAN PUT INTO EFFECT.-No proceeding may be maintained under this section unless the plan (and, in the case of a controversy involving the continuing qualification of the plan because of an amendment to the plan, the amendment) with respect to which a decision of the Tax Court is sought has been put into effect before the filing of the pleading. A plan or amendment shall not be treated as not being in effect merely because under the plan the funds contributed to the plan may be refunded if the plan (or the plan as so amended) is found to be not qualified. "(5) TIME FOR BRINGING ACTION.-If the Secretary or his delegate sends by certified or registered mail notice of his determination with respect to the qualification of the plan to the persons referred to in paragraph (1) (or, in the case of employees referred to in paragraph (1), to any individual designated under regulations prescribed by the Secretary or his delegate as a representative of such employee), no proceeding may be initiated under this section by any person unless the pleading is filed before the ninety-first day after the day after such notice is mailed to such person (or to his designated representative, in the case of an employee). "(c) COMMISSIONERS.--The chief judge of the Tax Court may assign proceedings under this section to be heard by the commissioners of the court, and the court may authorize a commissioner to make the decision of the court with respect to such proceeding, subject to such conditions and review as the court may by rule provide. "(d) RETIREMENT PLAN.-For purposes of this section, the term 'retirement plan' means- "(1) a pension, profit-sharing, or stock bonus plan described in section 401 (a) or a trust which is part of such a plan, "(2) an annuity plan described in section 403 (a), or "(3) a bond purchase plan described in section 405 (a). "(e) CROSS REFERENCE. "For provisions concerning intervention by Pension Benefit Guaranty Corporation and Secretary of Labor in actions brought under this section and right of Pension Benefit Guaranty Corporation to bring action, see section 3001 (c) of subtitle A of title III of the Employee Retirement Income Security Act of 1974." (b) TECHNICAL AND CONFORMING AMENDMENTS.— (1) FEE FOR FILING PETITION.-Section 7451 (relating to fee for filing petition) is amended by striking out "deficiency” and inserting in lieu thereof "deficiency or for a declaratory judgment under part IV of this subchapter". (2) DATE OF DECISION.-Section 7459 (c) (relating to date of decision) is amended by inserting before the period at the end of the first sentence the following: "or, in the case of a declaratory judgment proceeding under part IV of this subchapter, the date of the court's order entering the decision". (3) VENUE FOR APPEAL OF DECISION. (A) Section 7482 (b) (1) (relating to venue) is amended by striking out the period at the end of subparagraph (B) and inserting in lieu thereof ", or" and by inserting after subparagraph (B) the following new subparagraph: "(C) in the case of a person seeking a declaratory decision under section 7476, the principal place of business, or principal office or agency of the employer." (B) Section 7482 (b) (1) is further amended (i) by striking out "neither subparagraph (A) nor (B) applies" and inserting in lieu thereof "subparagraph (A), (B), and (C) do not apply"; and 88 STAT. 951 (ii) by inserting before the period at the end of the last sentence thereof the following: "or as of the time the petition seeking a declaratory decision under section 7476 was filed with the Tax Court". (c) CLERICAL AMENDMENT.-The table of parts for subchapter C of chapter 76 (relating to the Tax Court) is amended by adding at the end thereof the following new item: "PART IV. Declaratory judgments relating to qualification of certain retirement plans.". (d) EFFECTIVE DATE.-The amendments made by this section shall apply to pleadings filed more than 1 year after the date of the enactment of this Act. Ante, p. 949. 26 USC 7476 note. PART 5-INTERNAL REVENUE SERVICE SEC. 1051. ESTABLISHMENT OF OFFICE. (a) IN GENERAL.-Section 7802 (relating to Commissioner of Inter- 24 USC 7802. nal Revenue) is amended to read as follows: "SEC. 7802. COMMISSIONER OF INTERNAL REVENUE; ASSISTANT COMMISSIONER (EMPLOYEE PLANS AND EXEMPT ORGANI⚫ZATIONS). "(a) COMMISSIONER OF INTERNAL REVENUE.-There shall be in the Department of the Treasury a Commissioner of Internal Revenue, who shall be appointed by the President, by and with the advice and consent of the Senate. The Commissioner of Internal Revenue shall have such duties and powers as may be prescribed by the Secretary. "(b) ASSISTANT COMMISSIONER FOR EMPLOYEE PLANS AND EXEMPT ORGANIZATIONS.-There is established within the Internal Revenue Service an office to be known as the 'Office of Employee Plans and Exempt Organizations' to be under the supervision and direction of an Assistant Commissioner of Internal Revenue. As head of the Office, the Assistant Commissioner shall be responsible for carrying out such functions as the Secretary or his delegate may prescribe with respect to organizations exempt from tax under section 501 (a) and with respect to plans to which part I of subchapter D of chapter 1 applies (and with respect to organizations designed to be exempt under such section and plans designed to be plans to which such part applies)." (b) SALARIES. (1) ASSISTANT COMMISSIONER.-Section 5109 of title 5, United States Code, is amended by adding at the end thereof the following new subsection: Office of Employee Plans "(c) The position held by the employee appointed under section 7802(b) of the Internal Revenue Code of 1954 is classified at GS-18, Supra. and is in addition to the number of positions authorized by section 5108 (a) of this title." (2) CLASSIFICATION OF POSITIONS AT GS-16 AND 17.-Section 5108 of title 5, United States Code, is amended by adding at the end thereof the following new subsection: "(e) In addition to the number of positions authorized by subsection (a), the Commissioner of Internal Revenue is authorized, without regard to any other provision of this section, to place a total of 20 positions in the Internal Revenue Service in GS-16 and 17.". (c) CLERICAL AMENDMENTS.-The item relating to section 7802 in the table of sections for subchapter A of chapter 80 is amended to read as follows: "Sec. 7802. Commissioner of Internal Revenue; Assistant Commissioner (Employee Plans and Exempt Organizations)." (d) EFFECTIVE DATE.-The amendments made by this section shall 26 USC 7802 take effect on the 90th day after the date of the enactment of this Act. note. |