Corrective Distributions Attributable To Xxxx Elective Deferrals. Notwithstanding paragraphs (b)(2)(vi)(A) and (B) of Regulations Section 1.401(k)-2, a distribution of Excess Contributions is not includible in gross income to the extent it represents a distribution of Xxxx Elective Deferrals. However, the income allocable to a corrective distribution of Excess Contributions that are Xxxx Elective Deferrals is included in gross income in the same manner as income allocable to a corrective distribution of Excess Contributions that are pre-tax Elective Deferrals.
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Samples: Prototype Defined Contribution Plan, Prototype Defined Contribution Plan, Prototype Defined Contribution Plan (1st Constitution Bancorp)
Corrective Distributions Attributable To Xxxx Elective Deferrals. Notwithstanding paragraphs (b)(2)(vi)(A) and (B) of Regulations Section 1.401(k)-2, a distribution of Excess Contributions is not includible in gross income to the extent it represents a distribution of Xxxx Elective Deferrals. However, the income allocable to a corrective distribution of Excess Contributions that are Xxxx Elective Deferrals is included in gross income in the same manner as income allocable to a corrective distribution of Excess Contributions that are pre-tax Elective Deferrals.. Cycle D EGTRRA 401(k) IDP BPD
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