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MN HF5175

Bill

Official Source

Status

Introduced

4/2/2024

Primary Sponsor

Gregory Davids

Click for details

Origin

House of Representatives

93rd Legislature 2023-2024

AI Summary

  • Requires retirement plan administrators to promptly issue a corrected IRS Form 5498 or similar form to individuals when the original form contains inaccurate information about retirement account contributions
  • Mandates that retirement plan administrators notify the Internal Revenue Service of errors and provide corrected forms
  • Defines "retirement plan administrator" as a Minnesota trustee of an individual retirement account under section 408 of the Internal Revenue Code
  • Effective the day following final enactment

Legislative Description

Retirement account administrators required to promptly correct an erroneous tax form.

Last Action

Introduction and first reading, referred to Taxes

4/2/2024

Committee Referrals

Taxes4/2/2024

Full Bill Text

No bill text available