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S. 354Senate116th Congress (2019-2021)In Committee

A bill to avoid duplicative annual reporting under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974, and for other purposes.

Sponsored by Mark R. WarnerSen. Mark R. Warner (D-VA)
Introduced February 6, 2019

AI-Generated Summary

Updated April 14, 2026 at 1:25 AM UTC

The bill lets certain retirement plans that are part of the same group file one combined annual report instead of separate reports for the IRS and for ERISA. It applies to individual‑account and defined‑contribution plans that share the same trustee, fiduciaries, administrator, plan year start date, and investment options. The goal is to cut down on duplicate paperwork for plan sponsors and participants.

Key Provisions

  • The Treasury and Labor secretaries must create a single aggregated return that satisfies both the IRS reporting rules (section 6058) and the ERISA reporting rules (section 104).
  • The combined report can still require plan‑by‑plan details that the secretaries deem necessary for enforcement and administration.
  • A “group of plans” is defined as plans that are individual‑account or defined‑contribution, have the same trustee, fiduciaries, administrator, start their plan year on the same date, and offer the same investment options.
  • For deferred‑compensation plans, a new rule treats information for each plan on a combined return as a separate return for the purpose of the electronic filing numerical limitation.
  • The combined reporting system must be in place by Jan 1 2023 for plan years beginning after Dec 31 2022; the deferred‑compensation filing rule applies to plan years beginning after Dec 31 2019.

Legislative Activity

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1 earlier action
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Health, Education, Labor, and Pensions Committee

February 6, 2019

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SenateIntro Referral

Introduced in Senate

February 6, 2019

SenateIntro Referral

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Health, Education, Labor, and Pensions Committee

February 6, 2019

Bill Text

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Introduced in SenateIssued February 6, 2019

II

116th CONGRESS

1st Session

S. 354

IN THE SENATE OF THE UNITED STATES

February 6, 2019

Mr. Warner (for himself and Ms. Collins) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions

A BILL

To avoid duplicative annual reporting under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974, and for other purposes.

1.

Combined annual report for group of plans

(a)

In general

The Secretary of the Treasury and the Secretary of Labor shall, in cooperation, modify the returns required under section 6058 of the Internal Revenue Code of 1986 and the reports required by section 104 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1024) so that all members of a group of plans described in subsection (c) may file a single aggregated annual return or report satisfying the requirements of both such sections.

(b)

Administrative requirements

In developing the consolidated return or report under subsection (a), the Secretary of the Treasury and the Secretary of Labor may require such return or report to include any information regarding each plan in the group as such Secretaries determine is necessary or appropriate for the enforcement and administration of the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974.

(c)

Plans described

A group of plans is described in this subsection if all plans in the group—

(1)

are individual account plans or defined contribution plans (as defined in section 3(34) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002(34)) or in section 414(i) of the Internal Revenue Code of 1986);

(2)

have—

(A)

the same trustee (as described in section 403(a) of such Act (29 U.S.C. 1103(a)));

(B)

the same one or more named fiduciaries (as described in section 402(a) of such Act (29 U.S.C. 1102(a)));

(C)

the same administrator (as defined in section 3(16)(A) of such Act (29 U.S.C. 1002(16)(A))) and plan administrator (as defined in section 414(g) of the Internal Revenue Code of 1986); and

(D)

plan years beginning on the same date; and

(3)

provide the same investments or investment options to participants and beneficiaries.

A plan not subject to title I of the Employee Retirement Income Security Act of 1974 shall be treated as meeting the requirements of paragraph (2) as part of a group of plans if the same person that performs each of the functions described in such paragraph, as applicable, for all other plans in such group performs each of such functions for such plan.
(d)

Clarification relating to electronic filing of returns for deferred compensation plans

(1)

In general

Section 6011(e) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:

(5)

Application of numerical limitation to returns relating to deferred compensation plans

For purposes of applying the numerical limitation under paragraph (2)(A) to any return required under section 6058, information regarding each plan for which information is provided on such return shall be treated as a separate return.

.

(2)

Effective date

The amendment made by paragraph (1) shall apply to returns required to be filed with respect to plan years beginning after December 31, 2019.

(e)

Effective date

The modification required by subsection (a) shall be implemented not later than January 1, 2023, and shall apply to returns and reports for plan years beginning after December 31, 2022.