Death After Required Beginning Date Sample Clauses

Death After Required Beginning Date. If the Participant dies on or after his or her Required Beginning Date and the Participant has a designated beneficiary, the balance in the Participant’s Account will be distributed to his or her beneficiary over a period not longer than the beneficiary's single life expectancy. These distributions must commence no later than December 31st of the calendar year following the calendar year of the Participant’s death. If the Participant dies on or after his or her Required Beginning Date and the Participant does not have a designated beneficiary, the balance in the Participant’s Account must be distributed over a period that does not exceed his or her remaining single life expectancy determined in the year of the Participant’s death. However, the Required Minimum Distribution for the calendar year that contains the date of the Participant’s death is still required to be distributed. Such amount is determined as if the Participant were still alive throughout that year. If the Participant’s spouse is his or her sole beneficiary, the spouse may elect to treat the Participant’s Account as his or her own Account, whether the Participant dies before or after his or her Required Beginning Date. If the Participant dies after his or her Required Beginning Date and his or her spouse elects to treat the Participant’s Account as his or her own Account, any Required Minimum Distribution that has not been distributed for the year of the Participant’s death must still be distributed to his or her surviving spouse and then the remaining balance can be treated as the spouse's own Account. After the Participant’s death, his or her designated beneficiary may name a subsequent beneficiary. Any subsequent beneficiaries must take distributions at least as frequently as the original designated beneficiary, provided the original beneficiary’s date of death is on or prior to December 31, 2019. If the Participant does not properly designate a beneficiary, or all designated beneficiaries have predeceased the Participant, his or her spouse shall become the beneficiary or, if no surviving spouse or unmarried, the distribution will be made to the Participant’s estate.
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Related to Death After Required Beginning Date

  • Required Beginning Date The Participant’s entire interest will be distributed, or begin to be distributed, to the Participant no later than the Participant’s required beginning date.

  • Starting Date Unless a specific (fixed) starting date is duly justified and agreed upon during the preparation of the Grant Agreement, the project will start on the first day of the month following the entry info force of the Grant Agreement (NB : entry into force = signature by the Commission). Please note that if a fixed starting date is used, you will be required to provide a detailed justification on a separate note.

  • SIMPLE IRA-to-Traditional IRA Rollovers Assets distributed from your SIMPLE IRA may be rolled over to your Traditional IRA without IRS penalty tax provided two years have passed since you first participated in a SIMPLE IRA plan sponsored by your employer. As with Traditional IRA to Traditional IRA rollovers, the requirements of IRC Sec. 408(d)(3) must be met. A proper SIMPLE IRA to Traditional IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. You are permitted to roll over only one distribution from an IRA (Traditional, Xxxx, or SIMPLE) in a 12-month period, regardless of the number of IRAs you own. A distribution may be rolled over to the same IRA or to another IRA that is eligible to receive the rollover. For more information on rollover limitations, you may wish to obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx.

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