In regards to Sec. 138301 my reading is only your ability to contribute money from outside the IRA is to be limited. The account itself will still be an IRA so

In regards to Sec. 138301 my reading is only your ability to contribute money from outside the IRA is to be limited. The account itself will still be an IRA so the growth is not taxed you simply can't contribute more money to it. To be honest once the balance passes a few million why would you bother contributing to one anyways? The interest and growth alone will dwarf any contributions.