INCREASED PENALTIES FOR FAILURE TO FILE RETIREMENT PLAN RETURNS.

SEC. 403. INCREASED PENALTIES FOR FAILURE TO FILE RETIREMENT PLAN RETURNS.(a) In General.—Subsection (e) of section 6652 of the Internal Revenue Code of 1986 is amended—(1) by striking “$25” and inserting “$250”; and(2) by striking “$15,000” and inserting “$150,000”.(b) Annual Registration Statement and Notification of Changes.—Subsection (d) of section 6652 of the Internal Revenue Code of 1986 is amended—(1) by striking “$1” both places it appears in paragraphs (1) and (2) and inserting “$10”;(2) by striking “$5,000” in paragraph (1) and inserting “$50,000”; and(3) by striking “$1,000” in paragraph (2) and inserting “$10,000”.(c) Failure To Provide Notice.—Subsection (h) of section 6652 of the Internal Revenue Code of 1986 is amended—(1) by striking “$10” and inserting “$100”; and(2) by striking “$5,000” and inserting “$50,000”.(d) Effective Date.—The amendments made by this section shall apply to returns, statements, and notifications required to be filed, and notices required to be provided, after December 31, 2019.