INCREASED PENALTIES FOR FAILURE TO FILE RETIREMENT PLAN RETURNS.

SEC. 403. INCREASED PENALTIES FOR FAILURE TO FILE RETIREMENT PLAN RETURNS. (a) [26 U.S.C. 6652] In General.—Subsection (e) of section 6652 of the Internal Revenue Code of 1986is 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) [26 U.S.C. 6652 note] 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.