### Question
How does the law define qualified asset account?


### Answer
Under *26 U.S.C. § 419A*, **qualified asset account** is defined as:

> 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**

