5-percent owner
Defined in 3 places of the United States Code.
For purposes of this paragraph, the term “5-percent owner” means any individual who, at any time during the 5 plan years preceding the plan year ending in the taxable year in which the amount is received, is a 5-percent owner (as defined in section 416(i)(1)(B)).
Source
- 1994–present26 U.S.C. § 72Internal Revenue Code · Annuities; certain proceeds of endowment and life insurance contracts · under this chapter
For purposes of this paragraph, the term “5-percent owner” means—
(I) if the employer is a corporation, any person who owns (or is considered as owning within the meaning of section 318) more than 5 percent of the outstanding stock of the corporation or stock possessing more than 5 percent of the total combined voting power of all stock of the corporation, or
(II) if the employer is not a corporation, any person who owns more than 5 percent of the capital or profits interest in the employer.
Source
- 1994–present26 U.S.C. § 416Internal Revenue Code · Special rules for top-heavy plans · for purposes of this section
The term “5-percent owner” means any person who is a 5-percent owner with respect to the taxpayer (as defined in section 416(i)(1)(B)(i)).
Source
- 1994–present26 U.S.C. § 280FInternal Revenue Code · Limitation on depreciation for luxury automobiles; limitation where certain property used for personal purposes · for purposes of this section