(A) by striking or at the end of subclause (II), (B) by redesignating subclause (III) as subclause (IV), (C) by inserting after subclause (II) the following new subclause: (III) to a 401Kids Savings Account under a 401Kids Account Program established on behalf of the designated beneficiary under subsection (f) or section 3 of the 401Kids Savings Account Act of 2024 , or , and (D) by striking Subclause (III) shall not apply in the second sentence and inserting Subclause (III) shall not apply to so much of a distribution which, when aggregated with other contributions as provided in subsection (f)(3)(E)(ii), exceeds the limitation under subsection (f)(3)(B). Subclause (IV) shall not apply . (c) Effective date (1) In general The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. (2) Existing programs A qualified tuition program (as defined in section 529 of the Internal Revenue Code of 1986) of a State which includes a savings account program shall be treated for taxable years beginning after the date of the enactment of this Act as meeting the requirements of section 529(f) of the Internal Revenue Code of 1986, as added by this Act, if such qualified tuition program (as amended, if necessary) meets such requirements for the first taxable year beginning more than 1 year after such date of enactment. (d) Regulations The Secretary of the Treasury (or such Secretary's delegate) shall issue such regulations or other guidance as is necessary to implement State 401Kids Account Programs, including guidance— (1) regarding the personally identifying information which is necessary for States to establish accounts on behalf of individuals born in the State, (2) for informing individuals of accounts established on their behalf, and (3) for processing accounts of deceased individuals and returning Federal contributions to the Treasury pursuant to section 529(f)(9)(B) of the Internal Revenue Code of 1986. 3. Establishment of Federal 401Kids Account Program (a)