US Congress House Bill 1688 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on March 22 2017 - 25% progression, died in committee
Action: 2017-03-22 - Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

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. This bill requires the Department of the Treasury and the Department of Labor to cooperate to modify specified returns required for deferred compensation plans and other employee benefit plans to permit all members of a group of plans to file a single aggregated annual return or report satisfying the requirements of both the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA). The requirement applies to a group in which all of the plans: are individual account plans or defined contribution plans; have the same trustee, the same one or more named fiduciaries, the same administrator, and plan years beginning on the same date; and provide the same investments or investment options to participants and beneficiaries. The bill also specifies that, for the purposes of applying the numerical limitations related to the electronic filing of returns for deferred compensation plans, each plan for which information is provided on the return must be treated as a separate return.

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.

Rep. Linda Sanchez [D-CA]

Rep. David Roe [R-TN]

Date	Chamber	Action
2017-03-22	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2017-03-22	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2017-03-22	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2017-03-22	House	Introduced in House

SB695 (Same As) 2017-03-22 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
SB2526 (Related) 2018-03-08 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/1688/all-info
Text	https://www.congress.gov/115/bills/hr1688/BILLS-115hr1688ih.pdf