### Question
How is the "abnormal redemptions" defined?


### Answer
The term **abnormal redemptions** is defined in *26 U.S.C. § 851* as follows -

> redemptions occurring on any day if the net redemptions on such day exceed 1 percent of the fund's net asset value

#### Citation:
  - *26 U.S.C. § 851*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter M-Regulated Investment Companies and Real Estate Investment Trusts > PART I-REGULATED INVESTMENT COMPANIES**

