Irc Section 72 M 7

The schedule requires a physician s certification that a person meets the irc 72 m 7 definition of disabled.
Irc section 72 m 7. Internal revenue code section 72 t annuities. Page last reviewed or updated. Irc section 72 m 7 and related regulations define a participant as disabled if he or she cannot engage in any substantial gainful activity because of a medically determined physical or mental impairment expected to result in death or to be of long continued or indefinite duration and can furnish proof of this condition in the form or manner required by the irs.
See irc section 72 t 10 as amended by the defending public safety employees retirement act p l. The section you are referring to is intended to show one of the exceptions to the 10 excise tax assessed under 72 t. Paragraph 2 a iv shall not apply to any amount paid from a trust described in section 401 a which is exempt from tax under section 501 a or from a contract described in section 72 e 5 d ii unless the series of payments begins after the employee separates from service.
Irc 72 m 7 is just a section of the tax code that deals with pension distributions. 72 a 2 a such portion shall be treated as a separate contract for purposes of this section. 1 imposition of additional tax.
72 a 2 partial annuitization if any amount is received as an annuity for a period of 10 years or more or during one or more lives under any portion of an annuity endowment or life insurance contract i r c. 7 meaning of disabled. Paragraph 2 a iv shall not apply to any amount paid from a trust described in section 401 a which is exempt from tax under section 501 a or from a contract described in section 72 e 5 d ii unless the series of payments begins after the employee separates from service.
Certain proceeds of endowment and life insurance contracts t 10 percent additional tax on early distributions from qualified retirement plans.