Internal Revenue Code:Sec. 877. Expatriation to avoid tax
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Location in Internal Revenue Code
TITLE 26 - INTERNAL REVENUE CODE
Subtitle A - Income Taxes
CHAPTER 1 - NORMAL TAXES AND SURTAXES
Subchapter N - Tax Based on Income From Sources Within or Without
the United States
PART II - NONRESIDENT ALIENS AND FOREIGN CORPORATIONS
Subpart A - Nonresident Alien Individuals
Statute
Sec. 877. Expatriation to avoid tax
(a) Treatment of Expatriates.--
(1) In general.--Every nonresident alien individual to
whom this section applies and who, within the 10-year period
immediately preceding the close of the taxable year, lost United
States citizenship shall be taxable for such taxable year in the
manner provided in subsection (b) if the tax imposed pursuant to
such subsection (after any reduction in such tax under the last
sentence of such subsection) exceeds the tax which, without
regard to this section, is imposed pursuant to section 871.
(2) Individuals <<NOTE: Applicability.>> subject to this
section.--This section shall apply to any individual if--
(A) the average annual net income tax (as defined
in section 38(c)(1)) of such individual for the period
of 5 taxable years ending before the date of the loss of
United States citizenship is greater than $124,000,
(B) the net worth of the individual as of such
date is $2,000,000 or more, or
(C) such individual fails to certify under penalty
of perjury that he has met the requirements of this
title for the 5 preceding taxable years or fails to
submit such evidence of such compliance as the Secretary
may require.
In the case of the loss of United States citizenship in any
calendar year after 2004, such $124,000 amount shall be
increased by an amount equal to such dollar amount multiplied by
the cost-of-living adjustment determined under section 1(f)(3)
for such calendar year by substituting `2003' for `1992' in
subparagraph (B) thereof. Any increase under the preceding
sentence shall be rounded to the nearest multiple of $1,000.''.
(b) Alternative tax
A nonresident alien individual described in subsection (a) shall
be taxable for the taxable year as provided in section 1 or 55,
except that -
(1) the gross income shall include only the gross income
described in section 872(a) (as modified by subsection (d) of
this section), and
(2) the deductions shall be allowed if and to the extent that
they are connected with the gross income included under this
section, except that the capital loss carryover provided by
section 1212(b) shall not be allowed; and the proper allocation
and apportionment of the deductions for this purpose shall be
determined as provided under regulations prescribed by the
Secretary.
For purposes of paragraph (2), the deductions allowed by section
873(b) shall be allowed; and the deduction (for losses not
connected with the trade or business if incurred in transactions
entered into for profit) allowed by section 165(c)(2) shall be
allowed, but only if the profit, if such transaction had resulted
in a profit, would be included in gross income under this section.
The tax imposed solely by reason of this section shall be reduced
(but not below zero) by the amount of any income, war profits, and
excess profits taxes (within the meaning of section 903) paid to
any foreign country or possession of the United States on any
income of the taxpayer on which tax is imposed solely by reason of
this section.
(c) Exceptions.--
(1) In general.--Subparagraphs (A) and (B) of
subsection (a)(2) shall not apply to an individual described
in paragraph (2) or (3).
(2) Dual citizens.--
(A) In general.--An individual is described in
this paragraph if--
(i) the individual became at birth a citizen
of the United States and a citizen of another
country
and continues to be a citizen of such other
country, and
(ii) the individual has had no substantial
contacts with the United States.
(B) Substantial contacts.--An individual shall be
treated as having no substantial contacts with the
United States only if the individual--
(i) was never a resident of the United
States (as defined in section 7701(b)),
(ii) has never held a United States
passport, and
(iii) was not present in the United States
for more than 30 days during any calendar year
which is 1 of the 10 calendar years preceding the
individual's loss of United States citizenship.
(3) Certain minors.--An individual is described in this
paragraph if--
(A) the individual became at birth a citizen of
the United States,
(B) neither parent of such individual was a
citizen of the United States at the time of such birth,
(C) the individual's loss of United States
citizenship occurs before such individual attains
age 18\1/2\, and
(D) the individual was not present in the United
States for more than 30 days during any calendar year
which is 1 of the 10 calendar years preceding the
individual's loss of United States citizenship.
(d) Special rules for source, etc.
For purposes of subsection (b) -
(1) Source rules
The following items of gross income shall be treated as income
from sources within the United States:
(A) Sale of property
Gains on the sale or exchange of property (other than stock
or debt obligations) located in the United States.
(B) Stock or debt obligations
Gains on the sale or exchange of stock issued by a domestic
corporation or debt obligations of United States persons or of
the United States, a State or political subdivision thereof, or
the District of Columbia.
(C) Income or gain derived from controlled foreign corporation
Any income or gain derived from stock in a foreign
corporation but only -
(i) if the individual losing United States citizenship
owned (within the meaning of section 958(a)), or is
considered as owning (by applying the ownership rules of
section 958(b)), at any time during the 2-year period ending
on the date of the loss of United States citizenship, more
than 50 percent of -
(I) the total combined voting power of all classes of
stock entitled to vote of such corporation, or
(II) the total value of the stock of such corporation,
and
(ii) to the extent such income or gain does not exceed the
earnings and profits attributable to such stock which were
earned or accumulated before the loss of citizenship and
during periods that the ownership requirements of clause (i)
are met.
(2) Gain recognition on certain exchanges
(A) In general
In the case of any exchange of property to which this
paragraph applies, notwithstanding any other provision of this
title, such property shall be treated as sold for its fair
market value on the date of such exchange, and any gain shall
be recognized for the taxable year which includes such date.
(B) Exchanges to which paragraph applies
This paragraph shall apply to any exchange during the 10-year
period beginning on the date the individual loses United States
citizenship if -
(i) gain would not (but for this paragraph) be recognized
on such exchange in whole or in part for purposes of this
subtitle,
(ii) income derived from such property was from sources
within the United States (or, if no income was so derived,
would have been from such sources), and
(iii) income derived from the property acquired in the
exchange would be from sources outside the United States.
(C) Exception
Subparagraph (A) shall not apply if the individual enters
into an agreement with the Secretary which specifies that any
income or gain derived from the property acquired in the
exchange (or any other property which has a basis determined in
whole or part by reference to such property) during such
10-year period shall be treated as from sources within the
United States. If the property transferred in the exchange is
disposed of by the person acquiring such property, such
agreement shall terminate and any gain which was not recognized
by reason of such agreement shall be recognized as of the date
of such disposition.
(D) Secretary may extend period
To the extent provided in regulations prescribed by the
Secretary, subparagraph (B) shall be applied by substituting
the 15-year period beginning 5 years before the loss of United
States citizenship for the 10-year period referred to therein.
In the case of any exchange occurring during such 5 years, any
gain recognized under this subparagraph shall be recognized
immediately after such loss of citizenship.
(E) Secretary may require recognition of gain in certain cases
To the extent provided in regulations prescribed by the
Secretary -
(i) the removal of appreciated tangible personal property
from the United States, and
(ii) any other occurrence which (without recognition of
gain) results in a change in the source of the income or gain
from property from sources within the United States to
sources outside the United States,
shall be treated as an exchange to which this paragraph
applies.
(3) Substantial diminishing of risks of ownership
For purposes of determining whether this section applies to any
gain on the sale or exchange of any property, the running of the
10-year period described in subsection (a) and the period
applicable under paragraph (2) shall be suspended for any period
during which the individual's risk of loss with respect to the
property is substantially diminished by -
(A) the holding of a put with respect to such property (or
similar property),
(B) the holding by another person of a right to acquire the
property, or
(C) a short sale or any other transaction.
(4) Treatment of property contributed to controlled foreign
corporations
(A) In general
If -
(i) an individual losing United States citizenship
contributes property during the 10-year period beginning on
the date the individual loses United States citizenship to
any corporation which, at the time of the contribution, is
described in subparagraph (B), and
(ii) income derived from such property immediately before
such contribution was from sources within the United States
(or, if no income was so derived, would have been from such
sources),
any income or gain on such property (or any other property
which has a basis determined in whole or part by reference to
such property) received or accrued by the corporation shall be
treated as received or accrued directly by such individual and
not by such corporation. The preceding sentence shall not
apply to the extent the property has been treated under
subparagraph (C) as having been sold by such corporation.
(B) Corporation described
A corporation is described in this subparagraph with respect
to an individual if, were such individual a United States
citizen -
(i) such corporation would be a controlled foreign
corporation (as defined in (FOOTNOTE 1) 957), and
(FOOTNOTE 1) So in original. Probably should be followed by
''section''.
(ii) such individual would be a United States shareholder
(as defined in section 951(b)) with respect to such
corporation.
(C) Disposition of stock in corporation
If stock in the corporation referred to in subparagraph (A)
(or any other stock which has a basis determined in whole or
part by reference to such stock) is disposed of during the
10-year period referred to in subsection (a) and while the
property referred to in subparagraph (A) is held by such
corporation, a pro rata share of such property (determined on
the basis of the value of such stock) shall be treated as sold
by the corporation immediately before such disposition.
(D) Anti-abuse rules
The Secretary shall prescribe such regulations as may be
necessary to prevent the avoidance of the purposes of this
paragraph, including where -
(i) the property is sold to the corporation, and
(ii) the property taken into account under subparagraph (A)
is sold by the corporation.
(E) Information reporting
The Secretary shall require such information reporting as is
necessary to carry out the purposes of this paragraph.
(e) Comparable treatment of lawful permanent residents who cease to
be taxed as residents
(1) In general
Any long-term resident of the United States who -
(A) ceases to be a lawful permanent resident of the United
States (within the meaning of section 7701(b)(6)), or
(B) commences to be treated as a resident of a foreign
country under the provisions of a tax treaty between the United
States and the foreign country and who does not waive the
benefits of such treaty applicable to residents of the foreign
country,
shall be treated for purposes of this section and sections 2107,
2501, and 6039G in the same manner as if such resident were a
citizen of the United States who lost United States citizenship
on the date of such cessation or commencement.
(2) Long-term resident
For purposes of this subsection, the term ''long-term
resident'' means any individual (other than a citizen of the
United States) who is a lawful permanent resident of the United
States in at least 8 taxable years during the period of 15
taxable years ending with the taxable year during which the event
described in subparagraph (A) or (B) of paragraph (1) occurs.
For purposes of the preceding sentence, an individual shall not
be treated as a lawful permanent resident for any taxable year if
such individual is treated as a resident of a foreign country for
the taxable year under the provisions of a tax treaty between the
United States and the foreign country and does not waive the
benefits of such treaty applicable to residents of the foreign
country.
(3) Special rules
(A) Exceptions not to apply
Subsection (c) shall not apply to an individual who is
treated as provided in paragraph (1).
(B) Step-up in basis
Solely for purposes of determining any tax imposed by reason
of this subsection, property which was held by the long-term
resident on the date the individual first became a resident of
the United States shall be treated as having a basis on such
date of not less than the fair market value of such property on
such date. The preceding sentence shall not apply if the
individual elects not to have such sentence apply. Such an
election, once made, shall be irrevocable.
(4) Authority to exempt individuals
This subsection shall not apply to an individual who is
described in a category of individuals prescribed by regulation
by the Secretary.
(5) Regulations
The Secretary shall prescribe such regulations as may be
appropriate to carry out this subsection, including regulations
providing for the application of this subsection in cases where
an alien individual becomes a resident of the United States
during the 10-year period after being treated as provided in
paragraph (1).
(f) Burden of proof
If the Secretary establishes that it is reasonable to believe
that an individual's loss of United States citizenship would, but
for this section, result in a substantial reduction for the taxable
year in the taxes on his probable income for such year, the burden
of proving for such taxable year that such loss of citizenship did
not have for one of its principal purposes the avoidance of taxes
under this subtitle or subtitle B shall be on such individual.
(g) Physical Presence.--
(1) In general.--This section shall not apply to any
individual to whom this section would otherwise apply for any
taxable year during the 10-year period referred to in subsection
(a) in which such individual is physically present in the United
States at any time on more than 30 days in the calendar year
ending in such taxable year, and such individual shall be
treated for purposes of this title as a citizen or resident of
the United States, as the case may be, for such taxable year.
(2) Exception.--
(A) In general.--In the case of an individual
described in any of the following subparagraphs of this
paragraph, a day of physical presence in the United
States shall be disregarded if the individual is
performing services in the United States on such day for
an employer. The preceding sentence shall not apply if--
(i) such employer is related (within the
meaning of section 267 and 707) to such
individual, or
(ii) such employer fails to meet such
requirements as the Secretary may prescribe by
regulations to prevent the avoidance of the
purposes of this paragraph.
Not more than 30 days during any calendar year may be
disregarded under this subparagraph.
(B) Individuals with ties to other countries.--An
individual is described in this subparagraph if--
(i) the individual becomes (not later than
the close of a reasonable period after loss of
United States citizenship or termination of
residency) a citizen or resident of the country in
which--
(I) such individual was born,
(II) if such individual is
married, such individual's spouse was
born, or
(III) either of such individual's
parents were born, and
(ii) the individual becomes fully liable for
income tax in such country.
(C) Minimal prior physical presence in the united
states.--An individual is described in this subparagraph
if, for each year in the 10-year period ending on the
date of loss of United States citizenship or termination
of residency, the individual was physically present in
the United States for 30 days or
less. <<NOTE: Applicability.>> The rule of section
7701(b)(3)(D) shall apply for purposes of this
subparagraph.
Sources
(Added Pub. L. 89-809, title I, Sec. 103(f)(1), Nov. 13, 1966, 80
Stat. 1551; amended Pub. L. 93-406, title II, Sec. 2005(c)(8),
Sept. 2, 1974, 88 Stat. 992; Pub. L. 94-455, title XIX, Sec.
1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 95-600, title
IV, Sec. 421(e)(5), Nov. 6, 1978, 92 Stat. 2876; Pub. L. 96-222,
title I, Sec. 104(a)(1), (4)(H)(v), Apr. 1, 1980, 94 Stat. 214,
217; Pub. L. 99-514, title XII, Sec. 1243(a), Oct. 22, 1986, 100
Stat. 2580; Pub. L. 102-318, title V, Sec. 521(b)(31), July 3,
1992, 106 Stat. 312; Pub. L. 104-188, title I, Sec. 1401(b)(11),
Aug. 20, 1996, 110 Stat. 1789; Pub. L. 104-191, title V, Sec.
511(a)-(d), (f)(1), Aug. 21, 1996, 110 Stat. 2093-2098; Pub. L.
105-34, title XVI, Sec. 1602(g)(1)-(4), (h)(3), Aug. 5, 1997, 111
Stat. 1095, 1096.)
Amendment of Section
ADJUSTMENT OF NET TAX AND NET WORTH AMOUNTS FOR CALENDAR YEAR 2002
For adjustment of average annual net income tax and net worth
amounts under subsec. (a)(2) of this section for calendar year
2002, see section 3.17 of Revenue Procedure 2001-59, set out as a
note under section 1 of this title.
Miscellaneous
PRIOR PROVISIONS
A prior section 877 was renumbered section 878 of this title.
AMENDMENTS
2004 - Pub.L. 108-357 Sec.804(b). 877 (relating to
expatriation to avoid tax) is amended by adding at the end
the following new subsection: "(g) Physical Presence.-"
2004 - Pub.L. 108-357 Sec.804(a)(2). Subsection (c) of section 877
(relating to tax avoidance not presumed in certain cases) is
amended by striking subsection (c) and inserting this new
subsection (c).
2004 - Pub.L. 108-357 Sec.804. Subsection (a) of section 877
(relating to treatment of expatriates) is amended by striking
subsection (a) and inserting this new subsection (a).
Effective Date.--The <<NOTE: 26 USC 877 note.>> amendments made
by this section shall apply to individuals who expatriate after
June 3, 2004.
1997 - Subsec. (d)(2)(B). Pub. L. 105-34, Sec. 1602(g)(1),
substituted ''the 10-year period beginning on the date the
individual loses United States citizenship'' for ''the 10-year
period described in subsection (a)'' in introductory provisions.
Subsec. (d)(2)(D). Pub. L. 105-34, Sec. 1602(g)(2), inserted at
end ''In the case of any exchange occurring during such 5 years,
any gain recognized under this subparagraph shall be recognized
immediately after such loss of citizenship.''
Subsec. (d)(3). Pub. L. 105-34, Sec. 1602(g)(3), inserted ''and
the period applicable under paragraph (2)'' after ''subsection
(a)'' in introductory provisions.
Subsec. (d)(4)(A). Pub. L. 105-34, Sec. 1602(g)(4)(C), struck out
''during the 10-year period referred to in subsection (a),'' before
''any income or gain'' in concluding provisions.
Subsec. (d)(4)(A)(i). Pub. L. 105-34, Sec. 1602(g)(4)(A),
inserted ''during the 10-year period beginning on the date the
individual loses United States citizenship'' after ''contributes
property''.
Subsec. (d)(4)(A)(ii). Pub. L. 105-34, Sec. 1602(g)(4)(B),
inserted ''immediately before such contribution'' after ''from such
property''.
Subsec. (e)(1). Pub. L. 105-34, Sec. 1602(h)(3), substituted
''6039G'' for ''6039F'' in concluding provisions.
1996 - Subsec. (a). Pub. L. 104-191, Sec. 511(a), amended subsec.
(a) generally. Prior to amendment, subsec. (a) read as follows:
''(a) In General. - Every nonresident alien individual who at any
time after March 8, 1965, and within the 10-year period immediately
preceding the close of the taxable year lost United States
citizenship, unless such loss did not have for one of its principal
purposes the avoidance of taxes under this subtitle or subtitle B,
shall be taxable for such taxable year in the manner provided in
subsection (b) if the tax imposed pursuant to such subsection
exceeds the tax which, without regard to this section, is imposed
pursuant to section 871.''
Subsec. (a)(1). Pub. L. 104-191, Sec. 511(d)(2), inserted
''(after any reduction in such tax under the last sentence of such
subsection)'' after ''such subsection''.
Subsec. (b). Pub. L. 104-191, Sec. 511(d)(1), inserted at end
''The tax imposed solely by reason of this section shall be reduced
(but not below zero) by the amount of any income, war profits, and
excess profits taxes (within the meaning of section 903) paid to
any foreign country or possession of the United States on any
income of the taxpayer on which tax is imposed solely by reason of
this section.''
Pub. L. 104-188 substituted ''section 1 or 55'' for ''section 1,
55, or 402(d)(1)''.
Subsec. (b)(1). Pub. L. 104-191, Sec. 511(b)(2), substituted
''subsection (d)'' for ''subsection (c)''.
Subsec. (c). Pub. L. 104-191, Sec. 511(b)(1), added subsec. (c).
Former subsec. (c) redesignated (d).
Subsec. (d). Pub. L. 104-191, Sec. 511(c), amended subsec. (d)
generally. Prior to amendment, subsec. (d) read as follows:
''(d) Special Rules of Source. - For purposes of subsection (b),
the following items of gross income shall be treated as income from
sources within the United States:
''(1) Sale of property. - Gains on the sale or exchange of
property (other than stock or debt obligations) located in the
United States.
''(2) Stock or debt obligations. - Gains on the sale or
exchange of stock issued by a domestic corporation or debt
obligations of United States persons or of the United States, a
State or political subdivision thereof, or the District of
Columbia.
For purposes of this section, gain on the sale or exchange of
property which has a basis determined in whole or in part by
reference to property described in paragraph (1) or (2) shall be
treated as gain described in paragraph (1) or (2).''
Pub. L. 104-191, Sec. 511(b)(1), redesignated subsec. (c) as (d)
and struck out former subsec. (d) which read as follows:
''(d) Exception for Loss of Citizenship for Certain Causes. -
Subsection (a) shall not apply to a nonresident alien individual
whose loss of United States citizenship resulted from the
application of section 301(b), 350, or 355 of the Immigration and
Nationality Act, as amended (8 U.S.C. 1401(b), 1482, or 1487).''
Subsecs. (e), (f). Pub. L. 104-191, Sec. 511(f)(1), added subsec.
(e) and redesignated former subsec. (e) as (f).
1992 - Subsec. (b). Pub. L. 102-318 substituted ''402(d)(1)'' for
''402(e)(1)''.
1986 - Subsec. (c). Pub. L. 99-514 inserted at end ''For purposes
of this section, gain on the sale or exchange of property which has
a basis determined in whole or in part by reference to property
described in paragraph (1) or (2) shall be treated as gain
described in paragraph (1) or (2).''
1980 - Subsec. (b). Pub. L. 96-222 substituted ''55, or
402(e)(1)'' for ''section 55, 402(e)(1), or section 1201(b)''.
1978 - Subsec. (b). Pub. L. 95-600 substituted ''section 1,
section 55,'' for ''section 1''.
1976 - Subsecs. (b)(2), (e). Pub. L. 94-455 struck out ''or his
delegate'' after ''Secretary''.
1974 - Subsec. (b). Pub. L. 93-406 inserted reference to section
402(e)(1).
EFFECTIVE DATE OF 1997 AMENDMENT
Amendment by Pub. L. 105-34 effective as if included in the
provisions of the Health Insurance Portability and Accountability
Act of 1996, Pub. L. 104-191, to which such amendment relates, see
section 1602(i) of Pub. L. 105-34, set out as a note under section
26 of this title.
EFFECTIVE DATE OF 1996 AMENDMENT
Section 511(g) of Pub. L. 104-191 provided that:
''(1) In general. - The amendments made by this section (amending
this section and sections 2107 and 2501 of this title) shall apply
to -
''(A) individuals losing United States citizenship (within the
meaning of section 877 of the Internal Revenue Code of 1986) on
or after February 6, 1995, and
''(B) long-term residents of the United States with respect to
whom an event described in subparagraph (A) or (B) of section
877(e)(1) of such Code occurs on or after February 6, 1995.
''(2) Ruling requests. - In no event shall the 1-year period
referred to in section 877(c)(1)(B) of such Code, as amended by
this section, expire before the date which is 90 days after the
date of the enactment of this Act (Aug. 21, 1996).
''(3) Special rule. -
''(A) In general. - In the case of an individual who performed
an act of expatriation specified in paragraph (1), (2), (3), or
(4) of section 349(a) of the Immigration and Nationality Act (8
U.S.C. 1481(a)(1)-(4)) before February 6, 1995, but who did not,
on or before such date, furnish to the United States Department
of State a signed statement of voluntary relinquishment of United
States nationality confirming the performance of such act, the
amendments made by this section and section 512 (enacting section
6039F of this title) shall apply to such individual except that
the 10-year period described in section 877(a) of such Code shall
not expire before the end of the 10-year period beginning on the
date such statement is so furnished.
''(B) Exception. - Subparagraph (A) shall not apply if the
individual establishes to the satisfaction of the Secretary of
the Treasury that such loss of United States citizenship occurred
before February 6, 1994.''
Amendment by Pub. L. 104-188 applicable to taxable years
beginning after Dec. 31, 1999, with retention of certain transition
rules, see section 1401(c) of Pub. L. 104-188, set out as a note
under section 402 of this title.
EFFECTIVE DATE OF 1992 AMENDMENT
Amendment by Pub. L. 102-318 applicable to distributions after
Dec. 31, 1992, see section 521(e) of Pub. L. 102-318, set out as a
note under section 402 of this title.
EFFECTIVE DATE OF 1986 AMENDMENT
Section 1243(b) of Pub. L. 99-514 provided that: ''The amendment
made by subsection (a) (amending this section) shall apply to sales
or exchanges of property received in exchanges after September 25,
1985.''
EFFECTIVE DATE OF 1980 AMENDMENT
Amendment by Pub. L. 96-222 effective, except as otherwise
provided, as if it had been included in the provisions of the
Revenue Act of 1978, Pub. L. 95-600, to which such amendment
relates, see section 201 of Pub. L. 96-222, set out as a note under
section 32 of this title.
EFFECTIVE DATE OF 1978 AMENDMENT
Amendment by Pub. L. 95-600 applicable to taxable years beginning
after Dec. 31, 1978, see section 421(g) of Pub. L. 95-600, set out
as a note under section 5 of this title.
EFFECTIVE DATE OF 1974 AMENDMENT
Amendment by Pub. L. 93-406 applicable only with respect to
distributions or payments made after Dec. 31, 1973, in taxable
years beginning after Dec. 31, 1973, see section 2005(d) of Pub. L.
93-406, set out as a note under section 402 of this title.
EFFECTIVE DATE
Section applicable with respect to taxable years beginning after
Dec. 31, 1966, see section 103(n)(1) of Pub. L. 89-809, set out as
an Effective Date of 1966 Amendment note under section 871 of this
title.
PLAN AMENDMENTS NOT REQUIRED UNTIL JANUARY 1, 1998
For provisions directing that if any amendments made by subtitle
D (Sec. 1401-1465) of title I of Pub. L. 104-188 require an
amendment to any plan or annuity contract, such amendment shall not
be required to be made before the first day of the first plan year
beginning on or after Jan. 1, 1998, see section 1465 of Pub. L.
104-188, set out as a note under section 401 of this title.
PLAN AMENDMENTS NOT REQUIRED UNTIL JANUARY 1, 1994
For provisions directing that if any amendments made by subtitle
B (Sec. 521-523) of title V of Pub. L. 102-318 require an amendment
to any plan, such plan amendment shall not be required to be made
before the first plan year beginning on or after Jan. 1, 1994, see
section 523 of Pub. L. 102-318, set out as a note under section 401
of this title.
References
SECTION REFERRED TO IN OTHER SECTIONS
This section is referred to in sections 2, 121, 865, 894, 2057,
2107, 2501, 3405, 6039G, 7701 of this title.
