account has ceased to be a portable retirement and investment account. Notwithstanding the preceding sentence, any such account is subject to the taxes imposed by section 511 (relating to imposition of tax on unrelated business income of charitable, etc. organizations). (2) Account terminations Rules similar to the rules of paragraphs (2) and (4) of section 408(e) shall apply to portable retirement and investment accounts, and subsection (e)(2) shall not apply to any amount treated as distributed under such rules. (e) Tax treatment of distributions (1) In general Any amount paid or distributed out of a portable retirement and investment account shall be included in the gross income of such beneficiary. (2) Additional tax on certain distributions The tax imposed by this chapter on the account beneficiary for any taxable year in which there is a payment or distribution from a portable retirement and investment account of such beneficiary shall be increased by 10 percent unless such payment or distribution is— (A) paid or distributed on or after the date on which the account beneficiary attains age 59 ½ , (B) paid or distributed to an account beneficiary who is disabled within the meaning of subsection (m)(7), or (C) paid or distributed to an account beneficiary who has attained age 55 and becomes unemployed after attaining such age. (3) Certain distributions not taxed (A) In general Paragraphs (1) and (2) shall not apply to any amount paid or distributed from a portable retirement and investment account to the account beneficiary to the extent the amount received is paid into a portable retirement and investment account, or for an annuity, for the benefit of such beneficiary not later than the 60th day after the day on which the beneficiary receives the payment or distribution. (B) Limitation This paragraph shall not apply to any amount described in subparagraph (A) received by an individual from a portable retirement and investment account if, at any time during the 1-year period ending on the day of such