existing excess reserve
Defined in 1 place of the United States Code.
For purposes of computing the increase under subparagraph (A) for any taxable year, the term “existing excess reserve” means the excess (if any) of—
(i) the amount of assets set aside at the close of the first taxable year ending after July 18, 1984, for purposes described in subsection (a), over
(ii) the account limit determined under this section (without regard to this paragraph) for the taxable year for which such increase is being computed.
Source
- 1994–present26 U.S.C. § 419AInternal Revenue Code · Qualified asset account; limitation on additions to account · for purposes of this section