account. (e) Tax treatment of distributions (1) In general Any distribution from a Catastrophe Savings Account shall be includible in the gross income of the distributee in the manner provided in section 72. (2) Distributions for qualified catastrophe expenses (A) In general No amount shall be includible in gross income under paragraph (1) if the aggregate distributions during the taxable year do not exceed the qualified catastrophe expenses of the distributee during such taxable year. (B) Distributions in excess of expenses If such aggregate distributions exceed such expenses during the taxable year, the amount otherwise includible in gross income under paragraph (1) shall be reduced by the amount which bears the same ratio to the amount which would be includible in gross income under paragraph (1) (without regard to this subparagraph) as the qualified catastrophe expenses bear to such aggregate distributions. (3) Additional tax for distributions not used for qualified catastrophe expenses The tax imposed by this chapter for any taxable year on any taxpayer who receives a payment or distribution from a Catastrophe Savings Account which is includible in gross income shall be increased by 10 percent of the amount which is so includible. (4) Qualified catastrophe expenses For purposes of this subsection, the term qualified catastrophe expenses means expenses paid or incurred by reason of a major disaster that has been declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act. (5) Exception for retirement distributions No amount shall be includible in gross income under paragraph (1) (or subject to an additional tax under paragraph (3)) if the payment or distribution is made on or after the date on which the distributee attains age 62. (f) Tax treatment of accounts Rules similar to the rules of paragraphs (2) and (4) of section 408(e) shall apply to any Catastrophe Savings Account. . (b) Tax on excess contributions (1) In general Subsection (a) of section