is converted to, or exchanged for, a nontradable covered asset, such conversion or exchange shall be treated as a taxable event with respect to the asset being converted or exchanged if gain or loss (if any) on such conversion or exchange is, without regard to this part, not recognized under this chapter. (b) Applicable savings plan The term applicable savings plan means— (1) a defined contribution plan to which section 401(a) or 403(a) applies, (2) an annuity contract under section 403(b), (3) an eligible deferred compensation plan described in section 457(b) which is maintained by an eligible employer described in section 457(e)(1)(A), (4) an individual retirement plan, (5) an Archer MSA (within the meaning of section 220(d)), (6) a qualified tuition program (as defined in section 529(b)), (7) an ABLE account (as defined in section 529A(e)(6)), (8) a Coverdell education savings account (as defined in section 530), or (9) a health savings account (within the meaning of section 223(d)). (c) Derivative