In general
Distributions from an individual retirement plan to an individual after separation from employment—
(I)#
if such individual has received unemployment compensation for 12 consecutive weeks under any Federal or State unemployment compensation law by reason of such separation,
(II)#
if such distributions are made during any taxable year during which such unemployment compensation is paid or the succeeding taxable year, and
(III)#
to the extent such distributions do not exceed the amount paid during the taxable year for insurance described in section 213(d)(1)(D) with respect to the individual and the individual’s spouse and dependents (as defined in section 152, determined without regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof).