qualified plan loan offset amount
Defined in 1 place of the United States Code.
For purposes of this subparagraph, the term "qualified plan loan offset amount" means a plan loan offset amount which is treated as distributed from a qualified employer plan to a participant or beneficiary solely by reason of—
(I) the termination of the qualified employer plan, or
(II) the failure to meet the repayment terms of the loan from such plan because of the severance from employment of the participant.
Source
- 2017–present26 U.S.C. § 402Internal Revenue Code · Taxability of beneficiary of employees trust · in this section