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Recursion

(56,582 posts)
Sat Nov 21, 2015, 10:46 PM Nov 2015

Sanders' SR 1782 from 2013: can somebody help me here?

https://www.congress.gov/bill/113th-congress/senate-bill/1782/text#toc-H58F2F679095A4365B60E223EE2A4CDBD

(2) EXCEPTION FOR RETIREMENT ACCOUNTS, ETC.—No tax shall be imposed under subsection (a) on any covered transaction with respect to any security which is held in any plan, account, or arrangement described in section 220, 223, 401(a), 403(a), 403(b), 408, 408A, 529, or 530 (including assets held in a segregated asset account described in section 817 as part of any such plan, account, or arrangement).


Does this mean that my 401(k) plan would get taxed for 0.02% of my contribution every two weeks when I contribute, and also every time it rebalances? Or are 401(k)'s "described in" section 401(a)?
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Sanders' SR 1782 from 2013: can somebody help me here? (Original Post) Recursion Nov 2015 OP
All 401(k) (and 457(b)) plans are qualified plans under section 401(a) JonLeibowitz Nov 2015 #1
This message was self-deleted by its author jeff47 Nov 2015 #2

JonLeibowitz

(6,282 posts)
1. All 401(k) (and 457(b)) plans are qualified plans under section 401(a)
Sat Nov 21, 2015, 11:14 PM
Nov 2015

The mention of 401(a) is very very broad when it comes to employer-operated defined contribution plans.

So no, 401(k) plans are not subject to the tax.

Response to Recursion (Original post)

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