rollover contribution

(A)For purposes of this section, the term “rollover contribution” includes a contribution to a Coverdell education savings account made before the end of the 1-year period beginning on the date on which the contributor receives an amount under, United States Code, orof such Code, with respect to a person, to the extent that such contribution does not exceed— (i)the sum of the amounts received during such period by such contributor under such sections with respect to such person, reduced by (ii)the amounts so received which were contributed to a Roth IRA underor to another Coverdell education savings account. (B)The last sentence of paragraph (5) shall not apply with respect to amounts treated as a rollover by subparagraph (A). (C)For purposes of applyingin the case of a distribution which is includible in gross income under paragraph (1), the amount treated as a rollover by reason of subparagraph (A) shall be treated as investment in the contract. (e)Rules similar to the rules of paragraphs (2) and (4) ofshall apply to any Coverdell education savings account. (f)This section shall be applied without regard to any community property laws. (g)For purposes of this section, a custodial account shall be treated as a trust if the assets of such account are held by a bank (as defined in section 408(n)) or another person who demonstrates, to the satisfaction of the Secretary, that the manner in which he will administer the account will be consistent with the requirements of this section, and if the custodial account would, except for the fact that it is not a trust, constitute an account described in subsection (b)(1). For purposes of this title, in the case of a custodial account treated as a trust by reason of the preceding sentence, the custodian of such account shall be treated as the trustee thereof. (h)The trustee of a Coverdell education savings account shall make such reports regarding such account to the Secretary and to the beneficiary of the account with respect to contributions, distributions, and such other matters as the Secretary may require. The reports required by this subsection shall be filed at such time and in such manner and furnished to such individuals at such time and in such manner as may be required.


26 USC § 530(d)(9)(A)

Scoping language

For purposes of this section
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