Indiana § 6-8-11-11.5 Withdrawal of money contributed after December 31, 2015

Indiana Statutes

§ 6-8-11-11.5 — Withdrawal of money contributed after December 31, 2015

Indiana § 6-8-11-11.5

Art. 8MISCELLANEOUS

Ch. 11Employee Medical Care Savings Account Plans

This text of Indiana § 6-8-11-11.5 (Withdrawal of money contributed after December 31, 2015) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-8-11-11.5 (2026).

Text

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(1)the money may be withdrawn from the account by the employee at any time and for any purpose without a penalty; and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

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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(1) the money may be withdrawn from the account by the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.