Contracts under qualified plans
Except as provided in paragraph (8), this paragraph shall apply to any amount received—
(i)#
from a trust described in section 401(a) which is exempt from tax under section 501(a),
(ii)#
from a contract—
(I) purchased by a trust described in clause (i),
(II) purchased as part of a plan described in section 403(a),
(III) described in section 403(b), or
(IV) provided for employees of a life insurance company under a plan described in section 818(a)(3), or
(ii)(I)#
purchased by a trust described in clause (i),
(ii)(II)#
purchased as part of a plan described in section 403(a),
(ii)(III)#
described in section 403(b), or
(ii)(IV)#
(iii)#
from an individual retirement account or an individual retirement annuity.
Any dividend described in section 404(k) which is received by a participant or beneficiary shall, for purposes of this subparagraph, be treated as paid under a separate contract to which clause (ii)(I) applies.