(a) Definition

A registry account may be a designated or qualified settlement fund only if: 

(1) there has been a settlement agreement in the case;

(2) the court has entered an order establishing or approving a deposit into the registry as a settlement fund; and

(3) the liability resolved by the settlement agreement is of a kind described in 26 U.S.C. § 468B or 26 C.F.R. § 1.468B-1(c). 

The depositing party shall elect to have the funds treated as a designated or qualified settlement fund and must identify any such deposit made with the court.