### Question
Can you define what applicable preferred stock means?


### Answer
**Applicable preferred stock** is defined as the following in *26 U.S.C. § 430*:

> preferred stock which was issued before March 1, 2010 (or which was issued after such date and is held by an employee benefit plan subject to the provisions of title I of the Employee Retirement Income Security Act of 1974)

#### Citation:
  - *26 U.S.C. § 430*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter D-Deferred Compensation, Etc. > PART III-RULES RELATING TO MINIMUM FUNDING STANDARDS AND BENEFIT LIMITATIONS > Subpart A-Minimum Funding Standards for Pension Plans**

