Common use of Beneficiary Distribution Requirements Clause in Contracts

Beneficiary Distribution Requirements. The chart below outlines the distribution requirements for each beneficiary type assuming each beneficiary’s interest in the inherited Xxxx XXX funds is separately accounted for according to the Regulations by no later than December 31 of the year following the year of your death. The beneficiary distribution options and/or requirements outlined below may be restricted, accelerated, or modified if separate accounting of each beneficiary’s share is not completed by such deadline. Such beneficiaries should consult with their tax and legal counsel for advice on required distributions from the inherited Xxxx XXX funds.