Code · BILL · 115th Congress · H.R. 1 (Placed on Calendar Senate) — To provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year... · Sec. 1503

Sec. 1503. Modification of rules governing hardship distributions

74 words·~1 min read·/bill/115/hr/1/pcs/section-1503

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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 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, 2017.