subsection does not apply
UNDECIDED
0 of 2 settled
- 1ANY OF
This subsection shall not apply to any annuity contract which—
“to any annuity contract which—” Opening words“is acquired by the estate of a decedent by reason of the death of the decedent,” § 72(u)(3)(A)“is held under a plan described in section 401(a) or 403(a), under a program described in section 403(b), or under an individual retirement plan,” § 72(u)(3)(B)“is a qualified funding asset (as defined in section 130(d), but without regard to whether there is a qualified assignment),” § 72(u)(3)(C)“is purchased by an employer upon the termination of a plan described in section 401(a) or 403(a) and is held by the employer until all amounts under such contract are distributed to the employee for whom such contract was purchased or the employee’s beneficiary, or” § 72(u)(3)(D) - 2
an immediate annuity
ALL OFFor purposes of this subsection, the term “immediate annuity” means an annuity—
“an annuity—” Opening words“which is purchased with a single premium or annuity consideration,” § 72(u)(4)(A)“the annuity starting date (as defined in subsection (c)(4)) of which commences no later than 1 year from the date of the purchase of the annuity, and” § 72(u)(4)(B)“which provides for a series of substantially equal periodic payments (to be made not less frequently than annually) during the annuity period.” § 72(u)(4)(C)“Substantially” implies facts and circumstances. No regulation cites this provision (eCFR, Oct 19, 2026)