### Question
What does periodic payment mean?


### Answer
**Periodic payment** has the following meaning in *26 U.S.C. § 3405*:

> a designated distribution which is an annuity or similar periodic payment

#### Citation:
  - *26 U.S.C. § 3405*
  - Heading: **Subtitle C-Employment Taxes > CHAPTER 24-COLLECTION OF INCOME TAX AT SOURCE ON WAGES**

