immediate annuity

(4) Immediate annuity For purposes of this subsection, the term “immediate annuity” means an annuity— (A) which is purchased with a single premium or annuity consideration, (B) the annuity starting date (as defined in subsection (c)(4)) of which commences no later than 1 year from the date of the purchase of the annuity, and (C) which provides for a series of substantially equal periodic payments (to be made not less frequently than annually) during the annuity period.

Source

26 USC § 72(u)(4)


Scoping language

None identified. Default scope is assumed to be the entire title.
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