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HR 4189 115th Congress House

IRA Preservation Act of 2017

Official title: To reduce the disadvantages of individual retirement arrangements with respect to employer-sponsored retirement plans by helping taxpayers comply with laws aff… Show full official titleShow less

Official title: To reduce the disadvantages of individual retirement arrangements with respect to employer-sponsored retirement plans by helping taxpayers comply with laws affecting individual retirement arrangements, by providing for reduced penalties under the Internal Revenue Code of 1986 for certain self-corrections with respect to such laws, and for other purposes.

Introduced: October 31, 2017 Introduced by: Kelly, Mike Republican · Pennsylvania See on congress.gov
Taxation Employee benefits and pensionsGovernment information and archivesIncome tax deductionsIncome tax deferral
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Income tax exclusionSales and excise taxesTax administration and collection, taxpayers
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 31, 2017
Referred to the House Committee on Ways and Means.
Oct 31, 2017
Introduced in House
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 Latest action October 31, 2017

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

IRA Preservation Act of 2017

This bill modifies the requirements for Individual Retirement Arrangements (IRAs) to: (1) require the Department of the Treasury to provide taxpayers with certain educational materials and notifications, and (2) modify various penalties.

Treasury must provide the public with: (1) an overview of the laws and regulations related to IRAs, and (2) examples of common errors with respect to the laws and regulations and instructions on how to avoid the errors.

Treasury must also provide individual taxpayers with specified notices that identify critical failure points, inconsistencies, or errors and include advice on avoiding failures or errors.

The bill amends the Internal Revenue Code to:

  • reduce penalties for taxpayers who voluntarily correct certain IRA errors, including excess contributions and failures to take required minimum distributions;
  • eliminate the 10% additional tax on early distributions that are attributable to withdrawal of interest or other income earned on excess contributions to an IRA;
  • repeal the tax disqualification penalty (loss of tax-exempt status) for accounts where employees engage in certain prohibited transactions; and
  • revise the statute of limitations for collecting certain taxes in connection with an IRA.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 4189: IRA Preservation Act of 2017. 115th Congress. Open America. https://openamerica.io/bill/115-HR-4189/
MLA
"H.R. 4189: IRA Preservation Act of 2017." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-HR-4189/.
Bluebook (legal)
H.R. 4189, 115th Cong. (2026), https://openamerica.io/bill/115-HR-4189/.
Markdown link
[H.R. 4189: IRA Preservation Act of 2017](https://openamerica.io/bill/115-HR-4189/)
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