[Federal Register Volume 60, Number 241 (Friday, December 15, 1995)]
[Rules and Regulations]
[Pages 64320-64324]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-30416]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Parts 1 and 602
[TD 8631]
RIN 1545-AT79
Notice of Significant Reduction in the Rate of Future Benefit
Accrual
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Temporary regulations.
-----------------------------------------------------------------------
SUMMARY: This document contains temporary regulations that provide
guidance concerning the requirements of section 204(h) of the Employee
Retirement Income Security Act of 1974, as amended (ERISA), relating to
defined benefit plans and to individual account plans that are subject
to the funding standards of section 302 of ERISA. It requires the plan
administrator to give notice of certain plan amendments to participants
in the plan and certain other parties. The text of these temporary
regulations also serves as the text of the proposed regulations set
forth in the notice of proposed rulemaking on this subject published in
the Proposed Rules section of this issue of the Federal Register.
EFFECTIVE DATE: December 15, 1995.
FOR FURTHER INFORMATION CONTACT: Betty J. Clary, (202) 622-6070 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Paperwork Reduction Act
These regulations are being issued without prior notice and public
procedure pursuant to the Administrative Procedure Act (5 U.S.C. 553).
For this reason, the collection of information contained in these
regulations has been reviewed and, pending receipt and evaluation of
public comments, approved by the Office of Management and Budget under
control number 1545-1477. Responses to this collection of information
are required under section 204(h) of ERISA upon the adoption of certain
amendments to pension plans.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid control number.
For further information concerning this collection of information,
and where to submit comments on the collection of information and the
accuracy of the estimated burden and suggestions for reducing this
burden, please refer to the preamble to the cross-referencing notice of
proposed rulemaking published in the Proposed Rules section of this
issue of the Federal Register.
The regulations do not involve any issue of confidentiality.
Background
This document contains temporary regulations that provide guidance
on section 204(h) of the Employee Retirement Income Security Act of
1974, as amended (ERISA), 29 U.S.C. 1054(h). Section 204(h) of ERISA
was added by section 11006(a) of the Single-Employer Pension Plan
Amendments Act of 1986 (Title XI of Public Law 99-272), and was amended
by section 1879(u)(1) of the Tax Reform Act of 1986, Public Law 99-514.
Pursuant to section 101(a) of the Reorganization Plan No. 4 of 1978, 29
U.S.C. 1001nt, the Secretary of the Treasury has authority to issue
regulations under parts 2 and 3 of subtitle B of title I of ERISA
(including section 204 of ERISA). Under section 104 of Reorganization
Plan No. 4, the Secretary of Labor retains enforcement authority with
respect to parts 2 and 3 of subtitle B of title I of ERISA, but, in
exercising such authority, is bound by the regulations issued by the
Secretary of the Treasury.
Prior guidance relating to the requirements of section 204(h) has
been provided in Rev. Proc. 89-65 (1989-2 C.B. 786) and Rev. Proc. 94-
13 (1994-1 C.B. 566), and under Notice 87-21 (1987-1 C.B. 458), Notice
88-131 (1988-2 C.B. 546), Notice 89-92 (1989-2 C.B. 410), and Notice
90-73 (1990-2 C.B. 353). These temporary regulations provide further
guidance, in the form of Questions and Answers.
The provisions in this Treasury Decision are needed immediately to
provide guidance to the public with respect to the notice requirements
of section 204(h) of ERISA. Issues related to section 204(h) arise in
connection with a broad range of plan amendments, including amendments
prompted by recent changes in the law. Therefore, it is found
impracticable and contrary to the public interest to issue this
Treasury decision with prior notice under 5 U.S.C. 553(b).
Explanation of Provisions
Section 204(h) of ERISA applies if a defined benefit plan or an
individual account plan that is subject to the funding standards of
section 302 of ERISA is amended to provide for a significant reduction
in the rate of future benefit accrual. It requires the plan
administrator to give written notice of the amendment to participants
in the plan, alternate payees, and employee organizations representing
participants in the plan (or to a person designated, in writing, to
receive the notice on behalf of a participant, alternate payee, or
employee organization). The notice must set forth the plan amendment
and its effective date and must be provided after adoption of the
amendment and not less than 15 days before the effective date of the
amendment.
A plan amendment that is subject to the notice requirements of
section 204(h) of ERISA may also be subject to additional reporting and
disclosure requirements under title I of ERISA,
[[Page 64321]]
such as the requirement to provide a summary of material modifications.
See sections 102(a) and 104(a) of ERISA, 29 U.S.C. 1022 and 1024, and
the regulations thereunder for guidance on when a summary of material
modifications must be provided. Section 204(h) notice must be provided
at least 15 days in advance of the effective date of an amendment
significantly reducing the future rate of benefit accrual, even though
a summary of material modifications describing the amendment is
provided at a later date.
Section 204(h) of ERISA does not apply to an amendment that does
not affect the rate of future benefit accrual. These regulations
clarify that an amendment to a defined benefit plan that does not
affect the annual benefit commencing at normal retirement age does not
affect the rate of future benefit accrual for purposes of section
204(h). Accordingly, the regulations provide that the plan
administrator of a defined benefit plan is not required to provide
section 204(h) notice with respect to an amendment that does not affect
the future annual benefit payable at normal retirement age, even if the
amendment affects other forms of payment (such as a single sum
distribution) or benefits commencing at a date other than normal
retirement age (such as an early retirement benefit).
The regulations also clarify that an amendment to an individual
account plan that does not change the amount of future allocations to
participants' accounts does not affect the rate of future benefit
accrual for purposes of section 204(h) of ERISA. Accordingly, section
204(h) notice is not required with respect to any such amendment.
Even if an amendment affects the rate of future benefit accrual,
section 204(h) notice is required only if the amendment significantly
reduces the rate of future benefit accrual. Under the regulations,
whether an amendment significantly reduces the rate of future benefit
accrual is to be determined based on reasonable expectations taking
into account all relevant facts and circumstances.
The regulations delegate to the Commissioner of Internal Revenue
the authority to provide that section 204(h) notice need not be
provided with respect to plan amendments that the Commissioner
determines are necessary or appropriate, as a result of a change in
federal law, to maintain compliance with the law. The Commissioner may
exercise this authority only through the publication of revenue
rulings, notices, and other guidance in the Internal Revenue Bulletin.
In situations in which section 204(h) notice is required with
respect to an amendment, the regulations provide guidance on the
participants, alternate payees, and employee organizations to whom the
notice must be provided. Specifically, the regulations provide that the
plan administrator is not required to provide notice to a participant
or alternate payee whose rate of future benefit accrual is reasonably
expected not to be reduced by the amendment. For example, notice need
not be provided to participants (such as former employees with a vested
benefit under the plan) who, prior to the amendment, were not entitled
to accrue future benefits under the plan. Moreover, under the
regulations, section 204(h) notice is not required to be provided to an
employee organization unless it represents one or more participants to
whom section 204(h) notice is required to be provided. Finally, the
regulations clarify that employees who have not yet become participants
in the plan are not taken into account for any purpose under section
204(h) of ERISA.\1\ Thus, the plan administrator is not required to
provide section 204(h) notice to such employees.
\1\ This is not intended to affect the rights of employees under
other provisions of ERISA.
---------------------------------------------------------------------------
The regulations provide that a plan that is terminated in
accordance with title IV of ERISA is deemed to satisfy section 204(h)
not later than the date of termination established under section 4048
of ERISA. Accordingly, section 204(h) does not require that any further
benefits accrue under the plan after that date. However, if that date
of termination is deferred, benefits continue to accrue until the
deferred date of termination absent an effective cessation of accruals
as of an earlier specified date.
If the plan is not amended to significantly reduce the rate of
future benefit accrual prior to the termination, section 204(h) notice
is not required. However, the regulations also affirm that section
204(h) applies to an amendment that is effective prior to the
termination date and clarify that, if section 204(h) notice is
required, it can be provided either with or as part of the notice of
intent to terminate or separately.
The regulations also provide two rules applicable in situations in
which a plan administrator was required to provide section 204(h)
notice with respect to an amendment but failed to provide timely notice
to some of the parties to whom notice was required to be provided. The
first rule applies when the plan administrator fails to provide timely
notice with respect to more than a de minimis percentage of the parties
to whom section 204(h) notice was required. In such a situation, the
amendment becomes effective in accordance with its terms with respect
to a participant to whom notice was required if the participant was
provided with timely notice and any employee organization representing
the participant was also provided with timely notice. The amendment
also becomes effective in accordance with its terms with respect to an
alternate payee to whom notice was required if the alternate payee was
provided with timely notice.
The second rule applies in a situation in which the plan
administrator made a good faith effort to comply with section 204(h) of
ERISA with respect to an amendment, failed to provide timely section
204(h) notice to no more than a de minimis percentage of the parties to
whom notice was required, and provided timely notice to all employee
organizations with respect to whom section 204(h) notice was required.
In such a situation, if the plan administrator, promptly upon discovery
of the omission, provides section 204(h) notice to all parties who were
required to be provided such notice but were omitted, the plan
amendment becomes effective in accordance with its terms with respect
to all parties to whom section 204(h) notice was required, including
those who did not receive notice prior to discovery of the omission.
Effective Dates
These temporary regulations are effective for amendments adopted on
or after December 15, 1995, and amendments effective by their terms on
or after January 2, 1996.
Special Analyses
It has been determined that this Treasury decision is not a
significant regulatory action as defined in EO 12866. Therefore, a
regulatory assessment is not required. It also has been determined that
section 553(b) of the Administrative Procedure Act (5 U.S.C. chapter 5)
and the Regulatory Flexibility Act (5 U.S.C. chapter 6) do not apply to
these regulations, and, therefore, a Regulatory Flexibility Analysis is
not required. Pursuant to section 7805(f) of the Internal Revenue Code,
these temporary regulations will be submitted to the Chief Counsel for
Advocacy of the Small Business Administration for comment on their
impact on small business.
[[Page 64322]]
Drafting Information: The principal author of these regulations
is Betty J. Clary, Office of the Associate Chief Counsel (Employee
Benefits and Exempt Organizations), IRS. However, other personnel
from the IRS and Treasury Department participated in their
development.
List of Subjects
26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
26 CFR Part 602
Reporting and recordkeeping requirements.
Adoption of Amendments to the Regulations
Accordingly, 26 CFR parts 1 and 602 are amended as follows:
PART 1--INCOME TAXES
Paragraph 1. The authority citation for part 1 is amended by adding
an entry for Section 1.411(d)-6T to read as follows:
Authority: 26 U.S.C. 7805. * * *
Section 1.411(d)-6T also issued under Reorganization Plan No. 4 of
1978, 29 U.S.C. 1001nt. * * *
Par. 2. Sec. 1.411(d)-6T is added to read as follows:
Sec. 1.411(d)-6T Section 204(h) notice.
Q-1: What are the requirements of section 204(h) of the Employee
Retirement Income Security Act of 1974, as amended (ERISA)?
A-1: (a) Requirements of section 204(h). Section 204(h) of ERISA
generally requires written notice of an amendment to certain plans that
provides for a significant reduction in the rate of future benefit
accrual. Section 204(h) generally requires the notice to be provided to
plan participants, alternate payees, and employee organizations. The
plan administrator must provide the notice after adoption of the plan
amendment and not less than 15 days before the effective date of the
plan amendment.
(b) Other notice requirements. Other provisions of law may require
that certain parties be notified of a plan amendment. See, for example,
sections 102 and 104 of ERISA, and the regulations thereunder, for the
requirements relating to summary plan descriptions and summaries of
material modifications.
Q-2: To which plans does section 204(h) of ERISA apply?
A-2: Section 204(h) of ERISA applies to defined benefit plans
subject to part 2 of subtitle B of title I of ERISA and to individual
account plans subject to such part 2 and to the funding standards of
section 302 of ERISA. Accordingly, individual account plans that are
not subject to the funding standards of section 302, such as profit-
sharing and stock bonus plans, are not subject to section 204(h).
Q-3: What is section 204(h) notice?
A-3: Action 204(h) notice is notice that complies with section
204(h) of ERISA and the rules in this section.
Q-4: For which amendments is section 204(h) notice required?
A-4: (a) In general. Section 204(h) notice is required for an
amendment to a plan described in Q&A-2 of this section that provides
for a significant reduction in the rate of future benefit accrual.
(b) Delegation of authority to Commissioner. The Commissioner of
Internal Revenue may provide through publication in the Internal
Revenue Bulletin of revenue rulings, notices, or other documents (see
Sec. 601.601(d)(2) of this chapter) that section 204(h) notice need not
be provided for plan amendments otherwise described in paragraph (a) of
this Q&A-4 that the Commissioner determines to be necessary or
appropriate, as a result of changes in the law, to maintain compliance
with the requirements of the Internal Revenue Code of 1986, as amended
(Code) (including requirements for tax qualification), ERISA, or other
applicable federal law.
Q-5: What is an amendment that affects the rate of future benefit
accrual for purposes of section 204(h) of ERISA?
A-5: (a) In general--(1) Defined benefit plans. For purposes of
section 204(h) of ERISA, an amendment to a defined benefit plan affects
the rate of future benefit accrual only if it is reasonably expected to
change the amount of the future annual benefit commencing at normal
retirement age.
(2) Individual account plans. For purposes of section 204(h), an
amendment to an individual account plan affects the rate of future
benefit accrual only if it is reasonably expected to change the amounts
allocated in the future to participants' accounts. Changes in the
investments or investment options under an individual account plan are
not taken into account for this purpose.
(b) Determination of rate of future benefit accrual. In accordance
with paragraph (a) of this Q&A-5, the rate of future benefit accrual is
determined without regard to optional forms of benefit (other than the
annual benefit described in paragraph (a) of this Q&A-5), early
retirement benefits, or retirement-type subsidies, within the meaning
of such terms as used in section 411(d)(6) of the Code (section 204(g)
of ERISA). The rate of future benefit accrual is also determined
without regard to ancillary benefits and other rights or features as
defined in Sec. 1.401(a)(4)-4(e).
(c) Examples. These examples illustrate the rules in this Q&A-5:
Example 1. A plan is amended with respect to future benefit
accruals to eliminate a right to commencement of a benefit prior to
normal retirement age. Because the amendment does not affect the
annual benefit commencing at normal retirement age, it does not
reduce the rate of future benefit accrual for purposes of section
204(h).
Example 2. A plan is amended to modify the assumptions used in
converting an annuity form of distribution to a single sum form of
distribution. The use of these modified assumptions results in a
lower single sum. Because the amendment does not affect the annual
benefit commencing at normal retirement age, it does not reduce the
rate of future benefit accrual for purposes of section 204(h).
Q-6: What plan provisions are taken into account in determining
whether there has been a reduction in the rate of future benefit
accrual?
A-6: (a) Plan provisions taken into account. All plan provisions
that may affect the rate of future benefit accrual of participants or
alternate payees must be taken into account in determining whether an
amendment provides for a significant reduction in the rate of future
benefit accrual. Such provisions include, for example, the dollar
amount or percentage of compensation on which benefit accruals are
based; in the case of a plan using the permitted disparity under
section 401(l) of the Code, the amount of disparity between the excess
benefit percentage or excess contribution percentage and the base
benefit percentage or base contribution percentage (all as defined in
section 401(l)); the definition of service or compensation taken into
account in determining an employee's benefit accrual; the method of
determining average compensation for calculating benefit accruals; the
definition of normal retirement age in a defined benefit plan; the
exclusion of current participants from future participation; benefit
offset provisions; minimum benefit provisions; the formula for
determining the amount of contributions and forfeitures allocated to
participants' accounts in an individual account plan; and the actuarial
assumptions used to determine contributions under a target benefit plan
(as defined in Sec. 1.401(a)(4)-8(b)(3)(i)).
(b) Plan provisions not taken into account. Plan provisions that do
not
[[Page 64323]]
affect the rate of future benefit accrual of participants or alternate
payees are not taken into account in determining whether there has been
a reduction in the rate of future benefit accrual. For example,
provisions such as vesting schedules or optional forms of benefit
(other than the annual benefit described in Q&A-5(a) of this section)
are not taken into account.
(c) Examples. The following example illustrates the rules in this
Q&A-6:
Example. A defined benefit plan provides a normal retirement
benefit equal to 50% of final average compensation times a fraction
(not in excess of one), the numerator of which equals the number of
years of participation in the plan and the denominator of which
equals 20. A plan amendment that changes the numerator or
denominator of that fraction must be taken into account in
determining whether there has been a reduction in the rate of future
benefit accrual.
Q-7: What is the basic principle used in determining whether an
amendment provides for a significant reduction in the rate of future
benefit accrual for purposes of section 204(h) of ERISA?
A-7: Whether an amendment provides for a significant reduction in
the rate of future benefit accrual for purposes of section 204(h) of
ERISA is determined based on reasonable expectations taking into
account the relevant facts and circumstances at the time the amendment
is adopted.
Q-8: Are employees who have not yet become participants in a plan
at the time an amendment to the plan is adopted taken into account for
any purpose in applying section 204(h) of ERISA with respect to the
amendment?
A-8: No. Employees who have not yet become participants in a plan
at the time an amendment to the plan is adopted are not taken into
account for any purpose in applying section 204(h) of ERISA with
respect to the amendment. Thus, if section 204(h) notice is required
with respect to an amendment, the plan administrator need not provide
section 204(h) notice to such employees.
Q-9: If section 204(h) notice is required with respect to an
amendment, must such notice be provided to participants or alternate
payees whose rate of future benefit accrual is not reduced by the
amendment?
A-9: (a) In general. A plan administrator need not provide section
204(h) notice to any participant whose rate of future benefit accrual
is reasonably expected not to be reduced by the amendment, nor to any
alternate payee under an applicable qualified domestic relations order
whose rate of future benefit accrual is reasonably expected not to be
reduced by the amendment. A plan administrator need not provide section
204(h) notice to an employee organization unless the employee
organization represents a participant to whom section 204(h) notice is
required to be provided.
(b) Facts and circumstances test. Whether a participant or
alternate payee is described in paragraph (a) of this Q&A-9 is
determined based on all relevant facts and circumstances at the time
the amendment is adopted.
(c) Examples. The following examples illustrate the rules in this
Q&A-9:
Example 1. Plan A is amended to reduce significantly the rate of
future benefit accrual of all current employees who are participants
in the plan. It is reasonable to expect based on the facts and
circumstances that the amendment will not reduce the rate of future
benefit accrual of former employees who are currently receiving
benefits or that of former employees who are entitled to vested
benefits. Accordingly, the plan administrator is not required to
provide section 204(h) notice to such former employees.
Example 2. Assume in Example 1 that Plan A also covers two
groups of alternate payees. The alternate payees in the first group
are entitled to a certain percentage or portion of the former
spouse's accrued benefit, and for this purpose the accrued benefit
is determined at the time the former spouse begins receiving
retirement benefits under the plan. The alternate payees in the
second group are entitled to a certain percentage or portion of the
former spouse's accrued benefit, and for this purpose the accrued
benefit was determined at the time the qualified domestic relations
order was issued by the court. It is reasonable to expect that the
benefits to be received by the second group of alternate payees will
not be affected by any reduction in a former spouse's rate of future
benefit accrual. Accordingly, the plan administrator is not required
to provide section 204(h) notice to the alternate payees in the
second group.
Example 3. Plan B covers hourly employees and salaried
employees. Plan B provides the same rate of benefit accrual for both
groups. The employer amends Plan B to reduce significantly the rate
of future benefit accrual of the salaried employees only. At that
time, it is reasonable to expect that only a small percentage of
hourly employees will become salaried in the future. Accordingly,
the plan administrator is not required to provide section 204(h)
notice to the participants who are currently hourly employees.
Example 4. Plan C covers employees in Division M and employees
in Division N. Plan C provides the same rate of benefit accrual for
both groups. The employer amends Plan C to reduce significantly the
rate of future benefit accrual of employees in Division M. At that
time, it is reasonable to expect that in the future only a small
percentage of employees in Division N will be transferred to
Division M. Accordingly, the plan administrator is not required to
provide section 204(h) notice to the participants who are employees
in Division N.
Example 5. Assume the same facts as in Example 4, except that at
the time the amendment is adopted, it is expected that soon
thereafter Division N will be merged into Division M in connection
with a corporate reorganization (and the employees in Division N
will become subject to the plan's amended benefit formula applicable
to the employees in Division M). In this instance, the plan
administrator must provide section 204(h) notice to the participants
who are employees in Division M and to the participants who are
employees in Division N.
Q-10: Does a notice fail to comply with section 204(h) of ERISA if
it contains a summary of the amendment and the effective date, without
the text of the amendment itself?
A-10: No, the notice does not fail to comply with section 204(h) of
ERISA merely because the notice contains a summary of the amendment,
rather than the text of the amendment, if the summary is written in a
manner calculated to be understood by the average plan participant and
contains the effective date. The summary need not explain how the
individual benefit of each participant or alternate payee will be
affected by the amendment.
Q-11: How may section 204(h) notice be provided?
A-11: A plan administrator may use any method reasonably calculated
to ensure actual receipt of the section 204(h) notice. First class mail
to the last known address of the party is an acceptable delivery
method. Likewise, hand delivery is acceptable. Section 204(h) notice
may be enclosed along with other notice provided by the employer or
plan administrator.
Q-12: If a plan administrator fails to provide section 204(h)
notice to more than a de minimis percentage of participants and
alternate payees to whom section 204(h) notice is required to be
provided, will the plan administrator be considered to have complied
with section 204(h) of ERISA with respect to participants and alternate
payees who were provided with timely section 204(h) notice?
A-12: The plan administrator will be considered to have complied
with section 204(h) of ERISA with respect to a participant to whom
section 204(h) notice is required to be provided if the participant and
any employee organization representing the participant were provided
with timely section 204(h) notice. The plan administrator will be
considered to have complied with section 204(h) with respect to an
alternate payee to whom section 204(h) notice is required to be
provided if the alternate payee was
[[Page 64324]]
provided with timely section 204(h) notice. Accordingly, the amendment
will become effective in accordance with its terms with respect to
those participants and alternate payees.
Q-13: Will a plan be considered to have complied with section
204(h) of ERISA if the plan administrator provides section 204(h)
notice to all but a de minimis percentage of participants and alternate
payees to whom section 204(h) notice must be provided?
A-13: The plan will be considered to have complied with section
204(h) of ERISA and the amendment will become effective in accordance
with its terms with respect to all parties to whom section 204(h)
notice was required to be provided (including those who did not receive
notice prior to discovery of the omission), if the plan administrator--
(a) Has made a good faith effort to comply with the requirements of
section 204(h);
(b) Has provided section 204(h) notice to each employee
organization that represents any participant to whom section 204(h)
notice is required to be provided;
(c) Has failed to provide section 204(h) notice to no more than a
de minimis percentage of participants and alternate payees to whom
section 204(h) notice is required to be provided; and
(d) Provides section 204(h) notice to those participants and
alternate payees promptly upon discovering the oversight.
Q-14: How does section 204(h) of ERISA apply to a plan that is
terminated in accordance with title IV of ERISA?
A-14: (a) On and after termination date. Notwithstanding paragraph
(b) of this Q&A-14 or any other provisions of this section, a plan that
is terminated in accordance with title IV of ERISA is deemed to have
satisfied section 204(h) of ERISA not later than the termination date
(or date of termination, as applicable) established under section 4048
of ERISA. Accordingly, section 204(h) would not require that any
additional benefits accrue after such date.
(b) Amendment effective before termination date. An amendment that
is effective before the termination date (or date of termination, as
applicable) established under section 4048 of ERISA is subject to
section 204(h). Accordingly, if such amendment provides for a
significant reduction in the rate of future benefit accrual, the plan
administrator must provide section 204(h) notice (either separately or
with or as part of the notice of intent to terminate) with respect to
the amendment. However, if a plan is not amended to reduce
significantly the rate of future benefit accrual before the termination
date (for example, the plan continues existing benefit accruals until
the termination date), section 204(h) notice is not required.
Q-15: When does section 204(h) of ERISA become effective?
A-15: (a) Statutory effective date. With respect to defined benefit
plans, section 204(h) of ERISA generally applies to plan amendments
adopted on or after January 1, 1986. With respect to individual account
plans, section 204(h) applies to plan amendments adopted on or after
October 22, 1986.
(b) Regulatory effective date. This section applies to amendments
adopted on or after December 15, 1995, and amendments effective by
their terms on or after January 2, 1996.
PART 602--OMB CONTROL NUMBERS UNDER THE PAPERWORK REDUCTION ACT
Par. 6. The authority citation for part 602 continues to read as
follows:
Authority: 26 U.S.C. 7805.
Par. 7. In Sec. 602.101, paragraph (c) is amended by adding to the
table in numerical order the entry ``1.411(d)-6T * * * .1545-1477''.
Margaret Milner Richardson,
Commissioner of Internal Revenue.
Approved: December 5, 1995.
Leslie Samuels,
Assistant Secretary of the Treasury.
[FR Doc. 95-30416 Filed 12-12-95; 1:23 pm]
BILLING CODE 4830-01-U
