Common use of Contributions to Inherited Xxxx IRAs Clause in Contracts

Contributions to Inherited Xxxx IRAs. Except for direct rollovers of designated Xxxx assets from a deceased participant’s 401(k) plan(s), 403(b) arrangement(s) and 457(b) plan(s), qualified rollover contributions from inherited eligible retirement plan(s) other than a Xxxx XXX, direct transfers from another Inherited Xxxx XXX, and certain recharacterized contributions from Inherited Traditional IRAs, no other contribution types are allowed to be contributed to the Inherited Xxxx XXX, unless defined as allowable under the Code or Regulations. Rollover of Designated Xxxx Contributions. Eligible rollover distributions of designated Xxxx contributions (and earnings thereon) from a 401(k), 403(b) or 457(b) plan may be directly rolled over by a nonspouse beneficiary to an Inherited Xxxx XXX. Rollovers to an Inherited Xxxx XXX must be sent directly from the plan administrator to the Inherited Xxxx XXX Custodian. The nonspouse beneficiary may not have constructive receipt of the assets. The nonspouse beneficiary is solely responsible for tracking the taxable and nontaxable amounts of the assets rolled over. If a nonqualified distribution is rolled over from a designated Xxxx account in a 401(k), 403(b) or 457(b) plan to a Xxxx XXX, the portion of the distribution that constitutes the contribution basis is treated as basis in the Xxxx XXX. If a qualified distribution is rolled over from a designated Xxxx account in a 401(k), 403(b) or 457(b) plan to a Xxxx XXX, the entire amount of the rollover contribution is considered basis in the Xxxx XXX. Qualified Rollover Contributions. If current eligibility requirements as defined by the Code and Regulations are met, a nonspouse beneficiary may make a qualified rollover contribution to a Xxxx XXX from an eligible retirement plan other than a Xxxx XXX. A qualified rollover contribution must be sent in a direct trustee-to-trustee transaction from the distributing plan to the Inherited Xxxx XXX. The nonspouse beneficiary may not have constructive receipt of the assets. For assistance in determining qualified rollover contribution eligibility and the tax consequences of such a transaction, consult a tax advisor. Distributions to Inherited Xxxx XXX Owners. After the Inherited Xxxx XXX Owner rolls over the decedent’s employer plan assets, beneficiary payouts must continue as prescribed by the Code and Regulations.

Contributions to Inherited Xxxx IRAs. Except for direct rollovers of designated Xxxx assets from a deceased participant’s 401(k) plan(s), 403(b) arrangement(s) ), and 457(b) plan(s), qualified rollover contributions from inherited eligible retirement plan(s) other than a Xxxx XXX, direct transfers from another Inherited Xxxx XXX, and certain recharacterized contributions from Inherited Traditional IRAs, no other contribution types are allowed to be contributed to the Inherited Xxxx XXX, unless defined as allowable under the Code or Regulations. Rollover of Designated Xxxx Contributions. Eligible rollover distributions of designated Xxxx contributions (and earnings thereon) from a 401(k), 403(b) or 457(b) plan may be directly rolled over by a nonspouse beneficiary to an Inherited Xxxx XXX. Rollovers to an Inherited Xxxx XXX must be sent directly from the plan administrator to the Inherited Xxxx XXX Custodian. The nonspouse beneficiary may not have constructive receipt of the assets. The nonspouse beneficiary is solely responsible for tracking the taxable and nontaxable amounts of the assets rolled over. If a nonqualified distribution is rolled over from a designated Xxxx account in a 401(k), 403(b) or 457(b) plan to a Xxxx XXX, the portion of the distribution that constitutes the contribution basis is treated as basis in the Xxxx XXX. If a qualified distribution is rolled over from a designated Xxxx account in a 401(k), 403(b) or 457(b) plan to a Xxxx XXX, the entire amount of the rollover contribution is considered basis in the Xxxx XXX. Qualified Rollover Contributions. If current eligibility requirements as defined by the Code and Regulations are met, a nonspouse beneficiary may make a qualified rollover contribution to a Xxxx XXX from an eligible retirement plan other than a Xxxx XXX. A qualified rollover contribution must be sent in a direct trustee-to-trustee transaction from the distributing plan to the Inherited Xxxx XXX. The nonspouse beneficiary may not have constructive receipt of the assets. For assistance in determining qualified rollover contribution eligibility and the tax consequences of such a transaction, consult a tax advisor. Distributions to Inherited Xxxx XXX Owners. After the Inherited Xxxx XXX Owner rolls over the decedent’s employer plan assets, beneficiary payouts must continue as prescribed by the Code and Regulations.

Contributions to Inherited Xxxx IRAs. Except for direct rollovers of designated Xxxx assets from a deceased participant’s 401(k) plan(s), 403(b) arrangement(s) and 457(b) plan(s), qualified rollover contributions from inherited eligible retirement plan(s) other than a Xxxx XXX, direct transfers from another Inherited Xxxx XXX, and certain recharacterized contributions from Inherited Traditional IRAs, no other contribution types are allowed to be contributed to the Inherited Xxxx XXX, unless defined as allowable under the Code or Regulations. Rollover of Designated Xxxx Contributions. Eligible rollover distributions of designated Xxxx contributions (and earnings thereon) from a 401(k), 403(b) ), or 457(b) plan may be directly rolled over by a nonspouse spouse, nonspouse, or qualified trust beneficiary to an Inherited Xxxx XXX. Rollovers to an Inherited Xxxx XXX must be sent directly from the plan administrator to the Inherited Xxxx XXX Custodian. The nonspouse beneficiary may not have constructive receipt of the assets. The nonspouse beneficiary is solely responsible for tracking the taxable and nontaxable amounts of the assets rolled over. If a nonqualified distribution is rolled over from a designated Xxxx account in a 401(k), 403(b) or 457(b) plan to a Xxxx XXX, the portion of the distribution that constitutes the contribution basis is treated as basis in the Xxxx XXX. If a qualified distribution is rolled over from a designated Xxxx account in a 401(k), 403(b) or 457(b) plan to a Xxxx XXX, the entire amount of the rollover contribution is considered basis in the Xxxx XXX. Qualified Rollover Contributions. If current eligibility requirements as defined by the Code and Regulations are met, a nonspouse spouse, nonspouse, or qualified trust beneficiary may make a qualified rollover contribution to a Xxxx XXX from an eligible retirement plan other than a Xxxx XXX. A qualified rollover contribution must be sent in a direct trustee-to-trustee transaction from the distributing plan to the Inherited Xxxx XXX. The nonspouse beneficiary may not have constructive receipt of the assets. For assistance in determining qualified rollover contribution eligibility and the tax consequences of such a transaction, consult a tax advisor. Distributions to Inherited Xxxx XXX Owners. After the Inherited Xxxx XXX Owner rolls over the decedent’s employer plan assets, beneficiary payouts must continue as prescribed by the Code and Regulations.

Contributions to Inherited Xxxx IRAs. Except for direct rollovers of designated Xxxx assets from a deceased participant’s participant‟s 401(k) plan(s), ) or 403(b) arrangement(s) and 457(b) plan(s), qualified rollover contributions from inherited eligible retirement plan(s) other than a Xxxx XXX, XXX and direct transfers from another Inherited Xxxx XXX, and certain recharacterized contributions from Inherited Traditional IRAs, no other contribution types are allowed to be contributed to the Inherited Xxxx XXX, unless defined as allowable under the Code or Regulations. Rollover of Designated Xxxx Contributions. Eligible rollover distributions of designated Xxxx contributions (and earnings thereon) assets from a deceased participant‟s Xxxx 401(k), ) plan(s) or Xxxx 403(b) or 457(barrangement(s) plan may be directly rolled over by a nonspouse beneficiary to an Inherited Xxxx XXX. Rollovers to an Inherited Xxxx XXX must be sent directly from the plan administrator to the Inherited Xxxx XXX CustodianXXX. The nonspouse beneficiary may not have constructive receipt of the assets. The nonspouse beneficiary is solely responsible for tracking the taxable and nontaxable amounts of the assets rolled over. If a nonqualified distribution is rolled over from a designated Xxxx account in a 401(k), 403(b) or 457(b) plan to a Xxxx XXX, the portion of the distribution that constitutes the contribution basis is treated as basis in the Xxxx XXX. If a qualified distribution is rolled over from a designated Xxxx account in a 401(k), 403(b) or 457(b) plan to a Xxxx XXX, the entire amount of the rollover contribution is considered basis in the Xxxx XXX. Qualified Rollover Contributions. If current eligibility requirements as defined by the Code and Regulations are met, a nonspouse beneficiary may make a qualified rollover contribution to a Xxxx XXX from an eligible retirement plan other than a Xxxx XXX. A qualified rollover contribution must be sent in a direct trustee-to-to- trustee transaction from the distributing plan to the Inherited Xxxx XXX. The nonspouse beneficiary may not have constructive receipt of the assets. For assistance in determining qualified rollover contribution eligibility and the tax consequences of such a transaction, consult a tax advisor. Distributions to Inherited Xxxx XXX Owners. After the Inherited Xxxx XXX Owner rolls over the decedent’s employer plan assets, beneficiary payouts must continue as prescribed by the Code and Regulations.