Common use of Conversions from SIMPLE IRAs Clause in Contracts

Conversions from SIMPLE IRAs. You may not convert assets from a SIMPLE XXX to a Xxxx XXX until two years have passed since the date on which you first participated in an employer's SIMPLE XXX plan, which is the initial contribution date. If you participated in SIMPLE XXX plans of different employers, the initial contribution date and two-year period are determined separately for SIMPLE XXX assets from each employer.

Conversions from SIMPLE IRAs. You may not convert assets from a SIMPLE XXX IRA to a Xxxx XXX until two years have passed since the date on which you first participated in an employer's SIMPLE XXX IRA plan, which is the initial contribution date. If you participated in SIMPLE XXX IRA plans of different employers, the initial contribution date and two-year period are determined separately for SIMPLE XXX IRA assets from each employer.