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MN SF2580
Bill
Status
Introduced
3/17/2025
Primary Sponsor
Ann Rest
Click for details
AI Summary
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Annuity contract providers must treat individual retirement plan contributions as made for the preceding taxable year when received by the IRS deadline under Internal Revenue Code section 219(f)(3)
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Correction applies only when the individual notifies the provider of the intended tax year designation within three years of the original filing due date for that tax year
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Effective retroactively for notifications related to contributions made in 2023 only
Legislative Description
Correction of certain errors regarding the taxable year to which a deductible contribution is attributed requirement provision
Last Action
Referred to Taxes
3/17/2025
Committee Referrals
Taxes3/17/2025
Full Bill Text
No bill text available