shall be reduced by any amounts excluded from gross income for the taxable year under subparagraph (A)(i) with respect to such child. (3) Rollover contributions An amount is described in this paragraph as a rollover contribution if it meets the requirements of subparagraphs (A) and (B). (A) In general Paragraph (1) shall not apply to any amount paid or distributed from a parental leave savings account to the account owner if— (i) the entire amount received is paid into an individual retirement account or individual retirement annuity (other than an endowment contract) for the benefit of such individual not later than the 60th day after the day on which he receives the payment or distribution, or (ii) the entire amount received is paid into an eligible retirement plan for the benefit of such individual not later than the 60th day after the date on which the payment or distribution is received, except the maximum amount which may be paid into such plan may not exceed the portion of the amount received which is includible in gross income (determined without regard to this paragraph). For purposes of clause (ii), the term eligible retirement plan means an eligible retirement plan described in clause (iii), (iv), (v), or (vi) of section 402(c)(8)(B). (B) Limitation This paragraph does not apply to any amount described in subparagraph (A)(i) received by an individual from a parental leave savings account if at any time during the 1-year period ending on the day of such receipt such individual received any other amount described in that subparagraph from a parental leave savings account which was not includible in his gross income because of the application of this paragraph. (C) Special rule for 529 and 529A funding distributions (i) In general A plan shall not fail to be treated as a parental leave savings account under this section solely because the account provides for distributions from a parental leave savings account to a qualified tuition program (as defined in section 529(b)) or a qualified ABLE program (as