; special rule for owners Subparagraphs (B)(iv)(I) and (C)(ii)(I) of section 401(a)(9) of such Code are each amended by striking age 72 and inserting age 75 . (c) Conforming amendments The last sentence of section 408(b) of such Code is amended by striking age 72 and inserting age 75 . (d) Effective date The amendments made by this section shall apply to distributions required to be made after December 31, 2020, with respect to individuals who attain age 72 after such date. 3. Exemption from required minimum distribution rules for individuals with certain account balances (a) In general Section 401(a)(9) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: (J) Exception from required minimum distributions during life of employee where assets do not exceed $100,000 (i) In general If, as of a measurement date, the aggregate value of an employee’s entire interest under all defined contribution plans does not exceed $100,000, then, during any succeeding calendar year beginning before the next measurement date, the requirements of subparagraph (A) shall not apply with respect to such employee. (ii) Defined contribution plan For purposes of this subparagraph, the term defined contribution plan has the same meaning as when used in subparagraph (H). (iii) Limit on required minimum distribution The required minimum distribution determined under subparagraph (A) for an employee under all defined contribution plans shall not exceed an amount equal to the excess of— (I) the aggregate value of an employee’s entire interest under such plans on the last day of the calendar year to which such distribution relates, over (II) the dollar amount in effect under clause (i) for such calendar year. The Secretary in regulations or other guidance may provide how such amount shall be distributed in the case of an individual with more than one defined contribution plan. (iv) Measurement date For purposes of this subparagraph, the term measurement date means, with respect to any employee— (I)