Beneficiary Rollovers from Employer-Sponsored Retirement Plans Sample Clauses
Beneficiary Rollovers from Employer-Sponsored Retirement Plans. If you are a spouse Beneficiary, nonspouse Beneficiary, or the trustee of an eligible type of trust named as Beneficiary of a deceased employer plan participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan to an inherited IRA. The IRA must be maintained as an inherited IRA, subject to the beneficiary distribution requirements.
Beneficiary Rollovers from Employer-Sponsored Retirement Plans. If you are a spouse, nonspouse, or qualified trust beneficiary of a deceased employer plan participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan to an inherited XXX. The XXX must be maintained as an inherited XXX, subject to the beneficiary distribution requirements.
Beneficiary Rollovers from Employer-Sponsored Retirement Plans. If you are a spouse or nonspouse beneficiary of a deceased employer- sponsored retirement plan participant, or the trustee of an eligible type of trust named as beneficiary of such participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax- sheltered annuity, or 457(b) eligible governmental deferred compensation plan to an inherited IRA, as permitted by the IRS. The IRA must be maintained as an inherited IRA, subject to the beneficiary distribution requirements.
Beneficiary Rollovers from Employer-Sponsored Retirement Plans. If you are a spouse or non-spouse beneficiary of a deceased employer- sponsored retirement plan participant, or the trustee of an eligible type of trust named as beneficiary of such participant, you may directly roll over inherited assets, less any applicable RMDs for the year, from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) eligible governmental deferred compensation plan to an inherited IRA, as permitted by the IRS. A spouse beneficiary may also indirectly roll over these assets to an inherited IRA within 60 days of receipt. The IRA must be maintained as an inherited IRA, subject to the beneficiary distribution requirements.
Beneficiary Rollovers from Employer-Sponsored Retirement Plans. If you are a spouse or nonspouse beneficiary of a deceased employer-sponsored retirement plan participant, or the trustee of an eligible type of trust named as a beneficiary of such participant, you may directly roll over inherited assets, less any applicable RMDs, from a qualified retirement plan, 403(a) annuity, 403(b) tax sheltered annuity, or 457(b) eligible governmental deferred compensation plan to an inherited Xxxx XXX, as permitted by the IRS. Although the rollover amount generally is included in income when rolled over to an inherited Xxxx XXX, the 10 percent early distribution penalty tax will not apply to rollovers from eligible employer-sponsored retirement plans to an inherited Xxxx XXX. If the inherited plan that is being rolled over contains designated Xxxx assets, the designated Xxxx assets may only be rolled over to an inherited Xxxx XXX and are not taxable when rolled over. A spouse beneficiary may also indirectly roll over these assets to an inherited Xxxx XXX within 60 days of receipt. The Xxxx XXX must be maintained as an inherited Xxxx XXX, subject to the beneficiary distribution requirements.
Beneficiary Rollovers from Employer-Sponsored Retirement Plans. If you are a spouse or nonspouse beneficiary of a deceased employer-sponsored retirement plan participant, or the trustee of an eligible type of trust named as beneficiary of such participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax- sheltered annuity, or 457(b) eligible governmental deferred compensation plan to an inherited XXX, as permitted by the IRS. The XXX must be maintained as an inherited XXX, subject to the beneficiary distribution requirements.