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Internal Revenue Code · 26 U.S.C.

§ 4953. Tax on excess contributions to black lung benefit trusts

In force Text current through Public Law 119-121 (October 9, 2026) release point 119-121

Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).

Cite as 26 U.S.C. § 4953

At a glance

Read from the text, the source credit and the official notes. Not part of the law.

Status
In force
Added
February 10, 1978 by Pub. L. 95–227
Length
3 subsections · 288 words · about 1 min to read
Defines
1 term
Cross-references
cites 4; cited by 0 Code sections and 3 other regulations
(a) Tax imposed

There is hereby imposed for each taxable year a tax in an amount equal to 5 percent of the amount of the excess contributions made by a person to or under a trust or trusts described in section 501(c)(21). The tax imposed by this subsection shall be paid by the person making the excess contribution.

(b) Excess contribution For purposes of this section, the term “excess contribution” means the sum of—
(1) the amount by which the amount contributed for the taxable year to a trust or trusts described in section 501(c)(21) exceeds the amount of the deduction allowable to such person for such contributions for the taxable year under section 192, and
(2) the amount determined under this subsection for the preceding taxable year, reduced by the sum of—
(A) the excess of the maximum amount allowable as a deduction under section 192 for the taxable year over the amount contributed to the trust or trusts for the taxable year, and
(B) amounts distributed from the trust to the contributor which were excess contributions for the preceding taxable year.
(c) Treatment of withdrawal of excess contributions Amounts distributed during the taxable year from a trust described in section 501(c)(21) to the contributor thereof the sum of which does not exceed the amount of the excess contribution made by the contributor shall not be treated as—
(1) an act of self-dealing (within the meaning of section 4951),
(2) a taxable expenditure (within the meaning of section 4952), or
(3) an act contrary to the purposes for which the trust is exempt from taxation under section 501(a).

(Added Pub. L. 95–227, § 4(c)(1), Feb. 10, 1978, 92 Stat. 22.)

Terms defined here

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Cross-references

Computed from the citations in the text of Title 26 and 26 CFR.

This section cites 4 other sections

Cited in 3 regulations not issued under it

Amendment history

From the source credit and the official notes, newest first.

  1. Added by Pub. L. 95–227

Where it sits in the Code

  1. Subtitle D Miscellaneous Excise Taxes
  2. Chapter 42 PRIVATE FOUNDATIONS; AND CERTAIN OTHER TAX-EXEMPT ORGANIZATIONS
  3. Subchapter B Black Lung Benefit Trusts

Nearby sections