TIME FOR PAYMENT OF TAX ON REVERSION OF PENSION PLAN ASSETS.

SEC. 5072. TIME FOR PAYMENT OF TAX ON REVERSION OF PENSION PLAN ASSETS. (a) In General.— Section 4980(c) of the 1986 Code is amended by adding at the end thereof the following new paragraph: “(4) Time for payment of tax.— For purposes of subtitle F, the time for payment of the tax imposed by subsection (a) shall be the last day of the month following the month in which the employer reversion occurs.” (b) Effective Date.— The amendment made by subsection (a) shall apply to reversions after December 31, 1988.