2021 Indiana Code
Title 6. Taxation
Article 8. Miscellaneous
Chapter 11. Employee Medical Care Savings Account Plans
6-8-11-11.5. Withdrawal of Money Contributed After December 31, 2015

Universal Citation:
IN Code § 6-8-11-11.5 (2021)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Sec. 11.5. If an employer contributes money to an account under this chapter after December 31, 2015, for which no exemption applies under IC 6-3-2-18(c) and for which no exemption or exclusion applies under the Internal Revenue Code at the time of contribution:

(1) the money may be withdrawn from the account by the employee at any time and for any purpose without a penalty; and

(2) the withdrawal of the principal amount contributed by the employer is not income to the employee that is subject to taxation under IC 6-3-1 through IC 6-3-7.

As added by P.L.250-2015, SEC.46. Amended by P.L.122-2016, SEC.8.

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