Code · BILL · 113th Congress · H.R. 1 (Introduced in House) — To amend the Internal Revenue Code of 1986 to provide for comprehensive tax reform. · Sec. 1616

Sec. 1616. Modification of rules governing hardship distributions

75 words·~1 min read·/bill/113/hr/1/ih/section-1616

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Not later than 1 year after the date of the enactment of this Act, the Secretary of the Treasury shall modify Treasury Regulation section 1.401(k)–1(d)(3)(iv)(E) to— delete the 6-month prohibition on contributions imposed by paragraph

(2)thereof, and to make any other modifications necessary to carry out the purposes of section 401(k)(2)(B)(i)(IV) of the Internal Revenue Code of 1986. The revised regulations under this section shall apply to plan years beginning after December 31, 2014.