Amounts paid treated as contributions
For purposes of this title, amounts paid by an employer described in paragraph (1)(A) to a custodial account which satisfies the requirements of section 401(f)(2) shall be treated as amounts contributed by him for an annuity contract for his employee if the amounts are to be held in that custodial account and are invested in regulated investment company stock or a group trust intended to satisfy the requirements of Internal Revenue Service Revenue Ruling 81–100 (or any successor guidance), and under the custodial account—
(i)#
no such amounts may be paid or made available to any distributee (unless such amount is a distribution to which section 72(t)(2)(G) applies) before—
(I) the employee dies,
(II) the employee attains age 59½,
(III) the employee has a severance from employment,
(IV) the employee becomes disabled (within the meaning of section 72(m)(7)),
(V) subject to the provisions of paragraph (17), the employee encounters financial hardship,
(VI) except as may be otherwise provided by regulations, with respect to amounts invested in a lifetime income investment (as defined in section 401(a)(38)(B)(ii)), the date that is 90 days prior to the date that such lifetime income investment may no longer be held as an investment option under the contract, or
(VII) as provided for distributions to which section 401(a)(39) applies, and
(i)(I)#
the employee dies,
(i)(II)#
the employee attains age 59½,
(i)(III)#
the employee has a severance from employment,
(ii)#
in the case of amounts described in clause (i)(VI), such amounts will be distributed only in the form of a qualified distribution (as defined in section 401(a)(38)(B)(i)) or a qualified plan distribution annuity contract (as defined in section 401(a)(38)(B)(iv)).