WAIVER OF EARLY WITHDRAWAL TAX FOR INTERNAL REVENUE SERVICE LEVIES ON EMPLOYER-SPONSORED RETIREMENT PLANS OR IRAs.

SEC. 3436. WAIVER OF EARLY WITHDRAWAL TAX FOR INTERNAL REVENUE SERVICE LEVIES ON EMPLOYER-SPONSORED RETIREMENT PLANS OR IRAs. (a) In General.— Section 72(t)(2)(A) (relating to subsection not to apply to certain distributions) is amended by striking “or” at the end of clauses (iv) and (v), by striking the period at the end of clause (vi) and inserting “, or”, and by adding at the end the following new clause: “(vii) made on account of a levy under section 6331 on the qualified retirement plan.”. (b) Effective Date.— The amendments made by this section shall apply to distributions after December 31, 1999.