end of subparagraph (C) and inserting , and , and by inserting after subparagraph (C) the following new subparagraph: (D) except as may be otherwise provided by regulations, in the case of amounts described in subparagraph (A)(iv), such amounts will be distributed only in the form of a qualified distribution (as defined in section 401(a)(38)(B)(i)) or a qualified plan distribution annuity contract (as defined in section 401(a)(38)(B)(iv)). . (e) Effective date The amendments made by this section shall apply to plan years beginning after December 31, 2019. 112. Treatment of custodial accounts on termination of section 403(b) plan Not later than 6 months after the date of the enactment of this Act, the Secretary of the Treasury (or the Secretary's delegate) shall issue guidance to provide that, if an employer terminates the plan under which amounts are contributed to a custodial account under subparagraph (A) of section 403(b)(7) of the Internal Revenue Code of 1986, the plan administrator or custodian may distribute an individual custodial account in kind to a participant or beneficiary of the plan and the distributed custodial account shall be maintained by the custodian on a tax-deferred basis as a custodial account under such section 403(b)(7), similar to the treatment of fully-paid individual annuity contracts under Revenue Ruling 2011–7, until amounts are actually paid to the participant or beneficiary. The guidance shall provide further that— (1) except as otherwise specifically provided in such guidance, the distributed custodial account shall continue to be treated in the same manner as a custodial account under section 403(b)(7) of such Code if the requirements of section 403(b) of such Code (as in effect at the time of the distribution of the account) continue to be met with respect to such distributed account