### Question
How does the law define qualified trust?


### Answer
Under *26 U.S.C. § 529*, **qualified trust** is defined as:

> a trust which is created or organized in the United States for the exclusive benefit of designated beneficiaries and with respect to which the requirements of paragraphs (2) and (5) of section 408(a) are met

#### Citation:
  - *26 U.S.C. § 529*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter F-Exempt Organizations > PART VIII-CERTAIN SAVINGS ENTITIES**

