unforeseeable emergency
Defined in 1 place of the United States Code.
The term “unforeseeable emergency” means a severe financial hardship to the participant resulting from an illness or accident of the participant, the participant's spouse, or a dependent (as defined in section 152(a)) of the participant, loss of the participant's property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the participant.
Source
- 2005–present26 U.S.C. § 409AInternal Revenue Code · Inclusion in gross income of deferred compensation under nonqualified deferred compensation plans · in this section