WASHINGTON - American Deposit Corp. asked a federal appeals court Friday to prevent the Internal Revenue Service from stripping the Retirement CD of its tax-deferred status, a move that would destroy the annuity-like product.

American Deposit wants the U.S. Court of Appeals for the District of Columbia to reverse a June decision by a lower court preventing the company from challenging an IRS proposal before it is finalized.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.