26 U.S.C. § 402 : US Code - Section 402: Taxability of beneficiary of employees' trust

Search 26 U.S.C. § 402 : US Code - Section 402: Taxability of beneficiary of employees' trust

(a) Taxability of beneficiary of exempt trust
Except as otherwise provided in this section, any amount actually
distributed to any distributee by any employees' trust described in
section 401(a) which is exempt from tax under section 501(a) shall
be taxable to the distributee, in the taxable year of the
distributee in which distributed, under section 72 (relating to
annuities).
(b) Taxability of beneficiary of nonexempt trust
(1) Contributions
Contributions to an employees' trust made by an employer during
a taxable year of the employer which ends with or within a
taxable year of the trust for which the trust is not exempt from
tax under section 501(a) shall be included in the gross income of
the employee in accordance with section 83 (relating to property
transferred in connection with performance of services), except
that the value of the employee's interest in the trust shall be
substituted for the fair market value of the property for
purposes of applying such section.
(2) Distributions
The amount actually distributed or made available to any
distributee by any trust described in paragraph (1) shall be
taxable to the distributee, in the taxable year in which so
distributed or made available, under section 72 (relating to
annuities), except that distributions of income of such trust
before the annuity starting date (as defined in section 72(c)(4))
shall be included in the gross income of the employee without
regard to section 72(e)(5) (relating to amounts not received as
annuities).
(3) Grantor trusts
A beneficiary of any trust described in paragraph (1) shall not
be considered the owner of any portion of such trust under
subpart E of part I of subchapter J (relating to grantors and
others treated as substantial owners).
(4) Failure to meet requirements of section 410(b)
(A) Highly compensated employees
If 1 of the reasons a trust is not exempt from tax under
section 501(a) is the failure of the plan of which it is a part
to meet the requirements of section 401(a)(26) or 410(b), then
a highly compensated employee shall, in lieu of the amount
determined under paragraph (1) or (2) include in gross income
for the taxable year with or within which the taxable year of
the trust ends an amount equal to the vested accrued benefit of
such employee (other than the employee's investment in the
contract) as of the close of such taxable year of the trust.
(B) Failure to meet coverage tests
If a trust is not exempt from tax under section 501(a) for
any taxable year solely because such trust is part of a plan
which fails to meet the requirements of section 401(a)(26) or
410(b), paragraphs (1) and (2) shall not apply by reason of
such failure to any employee who was not a highly compensated
employee during -
(i) such taxable year, or
(ii) any preceding period for which service was creditable
to such employee under the plan.
(C) Highly compensated employee
For purposes of this paragraph, the term "highly compensated
employee" has the meaning given such term by section 414(q).
(c) Rules applicable to rollovers from exempt trusts
(1) Exclusion from income
If -
(A) any portion of the balance to the credit of an employee
in a qualified trust is paid to the employee in an eligible
rollover distribution,
(B) the distributee transfers any portion of the property
received in such distribution to an eligible retirement plan,
and
(C) in the case of a distribution of property other than
money, the amount so transferred consists of the property
distributed,
then such distribution (to the extent so transferred) shall not
be includible in gross income for the taxable year in which paid.
(2) Maximum amount which may be rolled over
In the case of any eligible rollover distribution, the maximum
amount transferred to which paragraph (1) applies shall not
exceed the portion of such distribution which is includible in
gross income (determined without regard to paragraph (1)). The
preceding sentence shall not apply to such distribution to the
extent -
(A) such portion is transferred in a direct trustee-to-
trustee transfer to a qualified trust which is part of a plan
which is a defined contribution plan and which agrees to
separately account for amounts so transferred, including
separately accounting for the portion of such distribution
which is includible in gross income and the portion of such
distribution which is not so includible, or
(B) such portion is transferred to an eligible retirement
plan described in clause (i) or (ii) of paragraph (8)(B).
In the case of a transfer described in subparagraph (A) or (B),
the amount transferred shall be treated as consisting first of
the portion of such distribution that is includible in gross
income (determined without regard to paragraph (1)).
(3) Transfer must be made within 60 days of receipt
(A) In general
Except as provided in subparagraph (B), paragraph (1) shall
not apply to any transfer of a distribution made after the 60th
day following the day on which the distributee received the
property distributed.
(B) Hardship exception
The Secretary may waive the 60-day requirement under
subparagraph (A) where the failure to waive such requirement
would be against equity or good conscience, including casualty,
disaster, or other events beyond the reasonable control of the
individual subject to such requirement.
(4) Eligible rollover distribution
For purposes of this subsection, the term "eligible rollover
distribution" means any distribution to an employee of all or any
portion of the balance to the credit of the employee in a
qualified trust; except that such term shall not include -
(A) any distribution which is one of a series of
substantially equal periodic payments (not less frequently than
annually) made -
(i) for the life (or life expectancy) of the employee or
the joint lives (or joint life expectancies) of the employee
and the employee's designated beneficiary, or
(ii) for a specified period of 10 years or more,
(B) any distribution to the extent such distribution is
required under section 401(a)(9), and
(C) any distribution which is made upon hardship of the
employee.
(5) Transfer treated as rollover contribution under section 408
For purposes of this title, a transfer to an eligible
retirement plan described in clause (i) or (ii) of paragraph
(8)(B) resulting in any portion of a distribution being excluded
from gross income under paragraph (1) shall be treated as a
rollover contribution described in section 408(d)(3).
(6) Sales of distributed property
For purposes of this subsection -
(A) Transfer of proceeds from sale of distributed property
treated as transfer of distributed property
The transfer of an amount equal to any portion of the
proceeds from the sale of property received in the distribution
shall be treated as the transfer of property received in the
distribution.
(B) Proceeds attributable to increase in value
The excess of fair market value of property on sale over its
fair market value on distribution shall be treated as property
received in the distribution.
(C) Designation where amount of distribution exceeds rollover
contribution
In any case where part or all of the distribution consists of
property other than money -
(i) the portion of the money or other property which is to
be treated as attributable to amounts not included in gross
income, and
(ii) the portion of the money or other property which is to
be treated as included in the rollover contribution,
shall be determined on a ratable basis unless the taxpayer
designates otherwise. Any designation under this subparagraph
for a taxable year shall be made not later than the time
prescribed by law for filing the return for such taxable year
(including extensions thereof). Any such designation, once
made, shall be irrevocable.
(D) Nonrecognition of gain or loss
No gain or loss shall be recognized on any sale described in
subparagraph (A) to the extent that an amount equal to the
proceeds is transferred pursuant to paragraph (1).
(7) Special rule for frozen deposits
(A) In general
The 60-day period described in paragraph (3) shall not -
(i) include any period during which the amount transferred
to the employee is a frozen deposit, or
(ii) end earlier than 10 days after such amount ceases to
be a frozen deposit.
(B) Frozen deposits
For purposes of this subparagraph, the term "frozen deposit"
means any deposit which may not be withdrawn because of -
(i) the bankruptcy or insolvency of any financial
institution, or
(ii) any requirement imposed by the State in which such
institution is located by reason of the bankruptcy or
insolvency (or threat thereof) of 1 or more financial
institutions in such State.
A deposit shall not be treated as a frozen deposit unless on at
least 1 day during the 60-day period described in paragraph (3)
(without regard to this paragraph) such deposit is described in
the preceding sentence.
(8) Definitions
For purposes of this subsection -
(A) Qualified trust
The term "qualified trust" means an employees' trust
described in section 401(a) which is exempt from tax under
section 501(a).
(B) Eligible retirement plan
The term "eligible retirement plan" means -
(i) an individual retirement account described in section
408(a),
(ii) an individual retirement annuity described in section
408(b) (other than an endowment contract),
(iii) a qualified trust,
(iv) an annuity plan described in section 403(a),
(v) an eligible deferred compensation plan described in
section 457(b) which is maintained by an eligible employer
described in section 457(e)(1)(A), and
(vi) an annuity contract described in section 403(b).
If any portion of an eligible rollover distribution is
attributable to payments or distributions from a designated
Roth account (as defined in section 402A), an eligible
retirement plan with respect to such portion shall include only
another designated Roth account and a Roth IRA.
(9) Rollover where spouse receives distribution after death of
employee
If any distribution attributable to an employee is paid to the
spouse of the employee after the employee's death, the preceding
provisions of this subsection shall apply to such distribution in
the same manner as if the spouse were the employee.
(10) Separate accounting
Unless a plan described in clause (v) of paragraph (8)(B)
agrees to separately account for amounts rolled into such plan
from eligible retirement plans not described in such clause, the
plan described in such clause may not accept transfers or
rollovers from such retirement plans.
(d) Taxability of beneficiary of certain foreign situs trusts
For purposes of subsections (a), (b), and (c), a stock bonus,
pension, or profit-sharing trust which would qualify for exemption
from tax under section 501(a) except for the fact that it is a
trust created or organized outside the United States shall be
treated as if it were a trust exempt from tax under section 501(a).
(e) Other rules applicable to exempt trusts
(1) Alternate payees
(A) Alternate payee treated as distributee
For purposes of subsection (a) and section 72, an alternate
payee who is the spouse or former spouse of the participant
shall be treated as the distributee of any distribution or
payment made to the alternate payee under a qualified domestic
relations order (as defined in section 414(p)).
(B) Rollovers
If any amount is paid or distributed to an alternate payee
who is the spouse or former spouse of the participant by reason
of any qualified domestic relations order (within the meaning
of section 414(p)), subsection (c) shall apply to such
distribution in the same manner as if such alternate payee were
the employee.
(2) Distributions by United States to nonresident aliens
The amount includible under subsection (a) in the gross income
of a nonresident alien with respect to a distribution made by the
United States in respect of services performed by an employee of
the United States shall not exceed an amount which bears the same
ratio to the amount includible in gross income without regard to
this paragraph as -
(A) the aggregate basic pay paid by the United States to such
employee for such services, reduced by the amount of such basic
pay which was not includible in gross income by reason of being
from sources without the United States, bears to
(B) the aggregate basic pay paid by the United States to such
employee for such services.
In the case of distributions under the civil service retirement
laws, the term "basic pay" shall have the meaning provided in
section 8331(3) of title 5, United States Code.
(3) Cash or deferred arrangements
For purposes of this title, contributions made by an employer
on behalf of an employee to a trust which is a part of a
qualified cash or deferred arrangement (as defined in section
401(k)(2)) or which is part of a salary reduction agreement under
section 403(b) shall not be treated as distributed or made
available to the employee nor as contributions made to the trust
by the employee merely because the arrangement includes
provisions under which the employee has an election whether the
contribution will be made to the trust or received by the
employee in cash.
(4) Net unrealized appreciation
(A) Amounts attributable to employee contributions
For purposes of subsection (a) and section 72, in the case of
a distribution other than a lump sum distribution, the amount
actually distributed to any distributee from a trust described
in subsection (a) shall not include any net unrealized
appreciation in securities of the employer corporation
attributable to amounts contributed by the employee (other than
deductible employee contributions within the meaning of section
72(o)(5)). This subparagraph shall not apply to a distribution
to which subsection (c) applies.
(B) Amounts attributable to employer contributions
For purposes of subsection (a) and section 72, in the case of
any lump sum distribution which includes securities of the
employer corporation, there shall be excluded from gross income
the net unrealized appreciation attributable to that part of
the distribution which consists of securities of the employer
corporation. In accordance with rules prescribed by the
Secretary, a taxpayer may elect, on the return of tax on which
a lump sum distribution is required to be included, not to have
this subparagraph apply to such distribution.
(C) Determination of amounts and adjustments
For purposes of subparagraphs (A) and (B), net unrealized
appreciation and the resulting adjustments to basis shall be
determined in accordance with regulations prescribed by the
Secretary.
(D) Lump-sum distribution
For purposes of this paragraph -
(i) In general
The term "lump-sum distribution" means the distribution or
payment within one taxable year of the recipient of the
balance to the credit of an employee which becomes payable to
the recipient -
(I) on account of the employee's death,
(II) after the employee attains age 59 1/2 ,
(III) on account of the employee's separation from
service, or
(IV) after the employee has become disabled (within the
meaning of section 72(m)(7)),
from a trust which forms a part of a plan described in section
401(a) and which is exempt from tax under section 501 or from
a plan described in section 403(a). Subclause (III) of this
clause shall be applied only with respect to an individual
who is an employee without regard to section 401(c)(1), and
subclause (IV) shall be applied only with respect to an
employee within the meaning of section 401(c)(1). For
purposes of this clause, a distribution to two or more trusts
shall be treated as a distribution to one recipient. For
purposes of this paragraph, the balance to the credit of the
employee does not include the accumulated deductible employee
contributions under the plan (within the meaning of section
72(o)(5)).
(ii) Aggregation of certain trusts and plans
For purposes of determining the balance to the credit of an
employee under clause (i) -
(I) all trusts which are part of a plan shall be treated
as a single trust, all pension plans maintained by the
employer shall be treated as a single plan, all profit-
sharing plans maintained by the employer shall be treated
as a single plan, and all stock bonus plans maintained by
the employer shall be treated as a single plan, and
(II) trusts which are not qualified trusts under section
401(a) and annuity contracts which do not satisfy the
requirements of section 404(a)(2) shall not be taken into
account.
(iii) Community property laws
The provisions of this paragraph shall be applied without
regard to community property laws.
(iv) Amounts subject to penalty
This paragraph shall not apply to amounts described in
subparagraph (A) of section 72(m)(5) to the extent that
section 72(m)(5) applies to such amounts.
(v) Balance to credit of employee not to include amounts
payable under qualified domestic relations order
For purposes of this paragraph, the balance to the credit
of an employee shall not include any amount payable to an
alternate payee under a qualified domestic relations order
(within the meaning of section 414(p)).
(vi) Transfers to cost-of-living arrangement not treated as
distribution
For purposes of this paragraph, the balance to the credit
of an employee under a defined contribution plan shall not
include any amount transferred from such defined contribution
plan to a qualified cost-of-living arrangement (within the
meaning of section 415(k)(2)) under a defined benefit plan.
(vii) Lump-sum distributions of alternate payees
If any distribution or payment of the balance to the credit
of an employee would be treated as a lump-sum distribution,
then, for purposes of this paragraph, the payment under a
qualified domestic relations order (within the meaning of
section 414(p)) of the balance to the credit of an alternate
payee who is the spouse or former spouse of the employee
shall be treated as a lump-sum distribution. For purposes of
this clause, the balance to the credit of the alternate payee
shall not include any amount payable to the employee.
(E) Definitions relating to securities
For purposes of this paragraph -
(i) Securities
The term "securities" means only shares of stock and bonds
or debentures issued by a corporation with interest coupons
or in registered form.
(ii) Securities of the employer
The term "securities of the employer corporation" includes
securities of a parent or subsidiary corporation (as defined
in subsections (e) and (f) of section 424) of the employer
corporation.
[(5) Repealed. Pub. L. 104-188, title I, Sec. 1401(b)(13), Aug.
20, 1996, 110 Stat. 1789]
(6) Direct trustee-to-trustee transfers
Any amount transferred in a direct trustee-to-trustee transfer
in accordance with section 401(a)(31) shall not be includible in
gross income for the taxable year of such transfer.
(f) Written explanation to recipients of distributions eligible for
rollover treatment
(1) In general
The plan administrator of any plan shall, within a reasonable
period of time before making an eligible rollover distribution,
provide a written explanation to the recipient -
(A) of the provisions under which the recipient may have the
distribution directly transferred to an eligible retirement
plan and that the automatic distribution by direct transfer
applies to certain distributions in accordance with section
401(a)(31)(B),
(B) of the provision which requires the withholding of tax on
the distribution if it is not directly transferred to an
eligible retirement plan,
(C) of the provisions under which the distribution will not
be subject to tax if transferred to an eligible retirement plan
within 60 days after the date on which the recipient received
the distribution,
(D) if applicable, of the provisions of subsections (d) and
(e) of this section, and
(E) of the provisions under which distributions from the
eligible retirement plan receiving the distribution may be
subject to restrictions and tax consequences which are
different from those applicable to distributions from the plan
making such distribution.
(2) Definitions
For purposes of this subsection -
(A) Eligible rollover distribution
The term "eligible rollover distribution" has the same
meaning as when used in subsection (c) of this section,
paragraph (4) of section 403(a), subparagraph (A) of section
403(b)(8), or subparagraph (A) of section 457(e)(16).
(B) Eligible retirement plan
The term "eligible retirement plan" has the meaning given
such term by subsection (c)(8)(B).
(g) Limitation on exclusion for elective deferrals
(1) In general
(A) Limitation
Notwithstanding subsections (e)(3) and (h)(1)(B), the
elective deferrals of any individual for any taxable year shall
be included in such individual's gross income to the extent the
amount of such deferrals for the taxable year exceeds the
applicable dollar amount. The preceding sentence shall not
apply to the portion of such excess as does not exceed the
designated Roth contributions of the individual for the taxable
year.
(B) Applicable dollar amount
For purposes of subparagraph (A), the applicable dollar
amount shall be the amount determined in accordance with the
following table:
For taxable years The applicable
beginning in dollar amount:
calendar year:
2002 $11,000
2003 $12,000
2004 $13,000
2005 $14,000
2006 or thereafter $15,000.
(C) Catch-up contributions
In addition to subparagraph (A), in the case of an eligible
participant (as defined in section 414(v)), gross income shall
not include elective deferrals in excess of the applicable
dollar amount under subparagraph (B) to the extent that the
amount of such elective deferrals does not exceed the
applicable dollar amount under section 414(v)(2)(B)(i) for the
taxable year (without regard to the treatment of the elective
deferrals by an applicable employer plan under section 414(v)).
(2) Distribution of excess deferrals
(A) In general
If any amount (hereinafter in this paragraph referred to as
"excess deferrals") is included in the gross income of an
individual under paragraph (1) (or would be included but for
the last sentence thereof) for any taxable year -
(i) not later than the 1st March 1 following the close of
the taxable year, the individual may allocate the amount of
such excess deferrals among the plans under which the
deferrals were made and may notify each such plan of the
portion allocated to it, and
(ii) not later than the 1st April 15 following the close of
the taxable year, each such plan may distribute to the
individual the amount allocated to it under clause (i) (and
any income allocable to such amount).
The distribution described in clause (ii) may be made
notwithstanding any other provision of law.
(B) Treatment of distribution under section 401(k)
Except to the extent provided under rules prescribed by the
Secretary, notwithstanding the distribution of any portion of
an excess deferral from a plan under subparagraph (A)(ii), such
portion shall, for purposes of applying section
401(k)(3)(A)(ii), be treated as an employer contribution.
(C) Taxation of distribution
In the case of a distribution to which subparagraph (A)
applies -
(i) except as provided in clause (ii), such distribution
shall not be included in gross income, and
(ii) any income on the excess deferral shall, for purposes
of this chapter, be treated as earned and received in the
taxable year in which such income is distributed.
No tax shall be imposed under section 72(t) on any distribution
described in the preceding sentence.
(D) Partial distributions
If a plan distributes only a portion of any excess deferral
and income allocable thereto, such portion shall be treated as
having been distributed ratably from the excess deferral and
the income.
(3) Elective deferrals
For purposes of this subsection, the term "elective deferrals"
means, with respect to any taxable year, the sum of -
(A) any employer contribution under a qualified cash or
deferred arrangement (as defined in section 401(k)) to the
extent not includible in gross income for the taxable year
under subsection (e)(3) (determined without regard to this
subsection),
(B) any employer contribution to the extent not includible in
gross income for the taxable year under subsection (h)(1)(B)
(determined without regard to this subsection),
(C) any employer contribution to purchase an annuity contract
under section 403(b) under a salary reduction agreement (within
the meaning of section 3121(a)(5)(D)), and
(D) any elective employer contribution under section
408(p)(2)(A)(i).
An employer contribution shall not be treated as an elective
deferral described in subparagraph (C) if under the salary
reduction agreement such contribution is made pursuant to a one-
time irrevocable election made by the employee at the time of
initial eligibility to participate in the agreement or is made
pursuant to a similar arrangement involving a one-time
irrevocable election specified in regulations.
(4) Cost-of-living adjustment
In the case of taxable years beginning after December 31, 2006,
the Secretary shall adjust the $15,000 amount under paragraph
(1)(B) at the same time and in the same manner as under section
415(d), except that the base period shall be the calendar quarter
beginning July 1, 2005, and any increase under this paragraph
which is not a multiple of $500 shall be rounded to the next
lowest multiple of $500.
(5) Disregard of community property laws
This subsection shall be applied without regard to community
property laws.
(6) Coordination with section 72
For purposes of applying section 72, any amount includible in
gross income for any taxable year under this subsection but which
is not distributed from the plan during such taxable year shall
not be treated as investment in the contract.
(7) Special rule for certain organizations
(A) In general
In the case of a qualified employee of a qualified
organization, with respect to employer contributions described
in paragraph (3)(C) made by such organization, the limitation
of paragraph (1) for any taxable year shall be increased by
whichever of the following is the least:
(i) $3,000,
(ii) $15,000 reduced by the sum of -
(I) the amounts not included in gross income for prior
taxable years by reason of this paragraph, plus
(II) the aggregate amount of designated Roth
contributions (as defined in section 402A(c)) for prior
taxable years, or
(iii) the excess of $5,000 multiplied by the number of
years of service of the employee with the qualified
organization over the employer contributions described in
paragraph (3) made by the organization on behalf of such
employee for prior taxable years (determined in the manner
prescribed by the Secretary).
(B) Qualified organization
For purposes of this paragraph, the term "qualified
organization" means any educational organization, hospital,
home health service agency, health and welfare service agency,
church, or convention or association of churches. Such term
includes any organization described in section
414(e)(3)(B)(ii). Terms used in this subparagraph shall have
the same meaning as when used in section 415(c)(4) (as in
effect before the enactment of the Economic Growth and Tax
Relief Reconciliation Act of 2001).
(C) Qualified employee
For purposes of this paragraph, the term "qualified employee"
means any employee who has completed 15 years of service with
the qualified organization.
(D) Years of service
For purposes of this paragraph, the term "years of service"
has the meaning given such term by section 403(b).
(8) Matching contributions on behalf of self-employed individuals
not treated as elective employer contributions
Except as provided in section 401(k)(3)(D)(ii), any matching
contribution described in section 401(m)(4)(A) which is made on
behalf of a self-employed individual (as defined in section
401(c)) shall not be treated as an elective employer contribution
under a qualified cash or deferred arrangement (as defined in
section 401(k)) for purposes of this title.
(h) Special rules for simplified employee pensions
For purposes of this chapter -
(1) In general
Except as provided in paragraph (2), contributions made by an
employer on behalf of an employee to an individual retirement
plan pursuant to a simplified employee pension (as defined in
section 408(k)) -
(A) shall not be treated as distributed or made available to
the employee or as contributions made by the employee, and
(B) if such contributions are made pursuant to an arrangement
under section 408(k)(6) under which an employee may elect to
have the employer make contributions to the simplified employee
pension on behalf of the employee, shall not be treated as
distributed or made available or as contributions made by the
employee merely because the simplified employee pension
includes provisions for such election.
(2) Limitations on employer contributions
Contributions made by an employer to a simplified employee
pension with respect to an employee for any year shall be treated
as distributed or made available to such employee and as
contributions made by the employee to the extent such
contributions exceed the lesser of -
(A) 25 percent of the compensation (within the meaning of
section 414(s)) from such employer includible in the employee's
gross income for the year (determined without regard to the
employer contributions to the simplified employee pension), or
(B) the limitation in effect under section 415(c)(1)(A),
reduced in the case of any highly compensated employee (within
the meaning of section 414(q)) by the amount taken into account
with respect to such employee under section 408(k)(3)(D).
(3) Distributions
Any amount paid or distributed out of an individual retirement
plan pursuant to a simplified employee pension shall be included
in gross income by the payee or distributee, as the case may be,
in accordance with the provisions of section 408(d).
(i) Treatment of self-employed individuals
For purposes of this section, except as otherwise provided in
subparagraph (A) of subsection (d)(4),(!1) the term "employee"
includes a self-employed individual (as defined in section
401(c)(1)(B)) and the employer of such individual shall be the
person treated as his employer under section 401(c)(4).
(j) Effect of disposition of stock by plan on net unrealized
appreciation
(1) In general
For purposes of subsection (e)(4), in the case of any
transaction to which this subsection applies, the determination
of net unrealized appreciation shall be made without regard to
such transaction.
(2) Transaction to which subsection applies
This subsection shall apply to any transaction in which -
(A) the plan trustee exchanges the plan's securities of the
employer corporation for other such securities, or
(B) the plan trustee disposes of securities of the employer
corporation and uses the proceeds of such disposition to
acquire securities of the employer corporation within 90 days
(or such longer period as the Secretary may prescribe), except
that this subparagraph shall not apply to any employee with
respect to whom a distribution of money was made during the
period after such disposition and before such acquisition.
(k) Treatment of simple retirement accounts
Rules similar to the rules of paragraphs (1) and (3) of
subsection (h) shall apply to contributions and distributions with
respect to a simple retirement account under section 408(p).