Code of Federal Regulations Title 20. Employees' Benefits § 20.404.1052 Payments from or to certain tax–exempt trusts or payments under or into certain annuity plans

(a) We do not include as wages any payment made—

(b) The trust must be exempt from tax under sections 401 and 501(a) of the Code, and the annuity plan must be a plan described in section 403(a) of the Code when payment is made.

(c) The exclusion does not apply to payments to an employee of the trust for work done as an employee of the trust.