Individual Retirement Plan Technical Changes Act

[AI summary unavailable — showing source text] Individual Retirement Plan Technical Changes Act - Amends the Internal Revenue Code to extend the deadline for making contributions to an individual retirement account (IRA) to the date on which the taxpayer is required to file a tax return (including extensions) for the following year. Permits a taxpayer who makes a contribution to an IRA in excess of prescribed limits to apply such excess amount to a subsequent taxable year, for purposes of the income tax deduction. Allows an individual, or spouse of such individual, who participates in a tax exempt employer pension plan for any part of a taxable year to claim an income tax deduction for contributions to an IRA made in those months in which the individual or spouse was not an active participant in the employer plan. Permits an individual whose total contributions to an IRA do not exceed $1,750 to withdraw excess amounts before the close of the taxable year without penalty. Permits such individual to withdraw excess contributions without regard to the $1,750 limitation, if the contributions were made in reasonable reliance on erroneous information supplied by an employer. Requires that an individual retirement annuity contract pro…