### Question
How is the "qualified asset account" defined?


### Answer
The term **qualified asset account** is defined in *26 U.S.C. § 419A* as follows -

> any account consisting of assets set aside to provide for the payment of—



(1) disability benefits,



(2) medical benefits,



(3) SUB or severance pay benefits, or



(4) life insurance benefits

#### Citation:
  - *26 U.S.C. § 419A*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter D-Deferred Compensation, Etc. > PART I-PENSION, PROFIT-SHARING, STOCK BONUS PLANS, ETC. > Subpart D-Treatment of Welfare Benefit Funds**

