DISTRIBUTIONS FROM AN ACCOUNT Sample Clauses

DISTRIBUTIONS FROM AN ACCOUNT. How Do I Request a Distribution From an Account? Distribution requests may be made online, by completing a withdrawal request form, or by telephone. If the withdrawal request is in good order, the Program typically will process the withdrawal and initiate payment within three (3) business days. During periods of market volatility and at year-end, however, withdrawal requests may take up to five business days to process. When requesting a withdrawal please allow 7 – 10 days for the proceeds to reach you. Contributions made by check, recurring contribution, or electronic funds transfer will not be available for withdrawal for seven (7) business days. If you make a change to your mailing address or to your banking information, or if you add a new bank account, no withdrawals can be made for fifteen (15) days following the change, unless you have provided a medallion signature guarantee. Although the Program Manager will report the Earnings Portion of a withdrawal to the IRS, it is solely the responsibility of the person receiving the withdrawal to calculate and report any resulting tax liability. An Account Owner may establish telephone and internet transaction privileges for an Account through the Program’s web site (XxxxxxXxxxxxxxxx.xxx) or by calling 000.000.0000. The Program Manager employs procedures it considers to be reasonable to confirm that instructions communicated by telephone or internet are genuine, including requiring certain personally identifiable information prior to acting on telephone or internet instructions. None of the Program Manager, the Program, the Trust, or the Treasurer will be liable for following telephone or internet instructions that the Program Manager reasonably believed to be genuine. What Constitutes a Federal Qualified Withdrawal? Federal Qualified Withdrawals from your Account are generally free from federal and Illinois state income tax, but a Federal Qualified Withdrawal that is also an Illinois Nonqualified Withdrawal may trigger recapture of any Illinois income tax deduction claimed for Contributions to the Account. See “Federal and State Tax Considerations.” Federal Qualified Higher Education Expenses, as defined in Section 529 of the Code, includes: • tuition, fees, books, supplies, and equipment required for enrollment of, or attendance by, a Beneficiary at an Institution of Higher Education; • certain room and board expenses incurred by students who are enrolled at least half-time at an Institution of Higher Educ...
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DISTRIBUTIONS FROM AN ACCOUNT. Requesting a distribution from an account There is no Beneficiary age or other deadline by which distributions from your account must begin. To request a distribution, the account owner may complete and submit a form to the Program Manager by mail. You can initiate a Qualified Withdrawal online by logging into your account at xxx.XXXX000Xxxxxxx.xxx. You can also request a Qualified Withdrawal, Non-Qualified Withdrawal or Rollover out of the NEST Advisor Plan by completing and submitting a form available through your Financial Advisor, or the Plan’s website, or by calling the Plan. The Program Manager employs procedures it considers to be reasonable to confirm that instructions communicated by telephone or Internet are genuine, including requiring certain personal identifying information prior to acting upon telephone or Internet instructions. None of the Program Manager, its authorized agents, the Trust, or the Trustee will be liable for following telephone or Internet instructions that are reasonably believed to be genuine. The Program Manager will review each withdrawal request to determine that all information needed to process such request has been received. Xxxxxxxxxx requests will be satisfied as soon as practicable following the Program Manager’s receipt and review of a properly completed form. The Plan typically will process a withdrawal form sent by mail and initiate payment of a distribution within two business days of receipt of the request. During periods of market volatility and at year-end, withdrawal requests may take up to five business days to process. Please submit your withdrawal requests well in advance of the start of each academic period. See also “Temporary withdrawal restrictions” below regarding withdrawals of recent contributions to an account. Although the Program Manager is required to report the earnings portion of any withdrawal to tax authorities, it is solely the responsibility of the person receiving the withdrawal to calculate and report any resulting tax liability. Temporary withdrawal restrictions If you made a contribution that was in good order, you will not be able to make a withdrawal of that contribution from your account for five business days after deposit. When an account owner or the address is changed on an account there is a 10-business-day hold before a withdrawal can be made. A withdrawal request must be signature guaranteed if the request is within 10 business days of the change to have the withdrawal relea...
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Related to DISTRIBUTIONS FROM AN ACCOUNT

  • Trust Account; Distributions On or before the issuance of the Certificates, Xxxxxx Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Trust Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Trust Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Classes and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Trust Fund Certificates or

  • When Must Distributions from a Traditional IRA Begin You must begin receiving the assets in your account no later than April 1 following the calendar year in which you reach RMD age.

  • When Must Distributions from a Xxxxxxxxx Education Savings Account Begin? Distribution of a Xxxxxxxxx Education Savings Account must be made (or otherwise will be deemed made) no later than 30 days from the earlier of the beneficiary’s death or attainment of age 30. A distribution from a Xxxxxxxxx Education Savings Account may be rolled over to another beneficiary’s Xxxxxxxxx Education Savings Account according to the requirements of Section (4). Note that the Economic Growth and Tax Relief Reconciliation Act of 2001 waives the distribution age limitation if the beneficiary of the Xxxxxxxxx Education Savings Account is a “Special Needs” student.

  • DEDUCTIONS FROM PAY 24.01 The Employer shall continue to make necessary or approved deductions from an employee's pay for fringe benefits, taxes and other customary purposes and provide the employee with a statement of such deductions with each pay cheque.

  • How Are Distributions from a Xxxxxxxxx Education Savings Account Taxed For Federal Income Tax Purposes? Amounts distributed are generally excludable from gross income if they do not exceed the beneficiary’s “qualified higher education expenses” for the year or are rolled over to another Xxxxxxxxx Education Savings Account according to the requirements of Section (4). “Qualified higher education expenses” generally include the cost of tuition, fees, books, supplies, and equipment for enrollment at (i) accredited post-secondary educational institutions offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree or another recognized post-secondary credential and (ii) certain vocational schools. In addition, room and board may be covered if the beneficiary is at least a “half-time” student. This amount may be reduced or eliminated by certain scholarships, qualified state tuition programs, HOPE, Lifetime Learning tax credits, proceeds of certain savings bonds, and other amounts paid on the beneficiary’s behalf as well as by any other deductions or credits taken for the same expenses. The definition of “qualified education expenses” includes expenses more frequently and directly related to elementary and secondary school education, including the purchase of computer technology or equipment or Internet access and related services. To the extent payments during the year exceed such amounts, they are partially taxable and partially non-taxable similar to payments received from an annuity. Any taxable portion of a distribution is generally subject to a 10% penalty tax in addition to income tax unless the distribution is (i) due to the death or disability of the beneficiary, (ii) made on account of a scholarship received by the beneficiary, or (iii) is made in a year in which the beneficiary elects the HOPE or Lifetime Learning credit and waives the exclusion from income of the Xxxxxxxxx Education Savings Account distribution. You may be allowed to take both the HOPE or Lifetime Learning credits while simultaneously taking distributions from Xxxxxxxxx Education Savings Accounts. However, you cannot claim a credit for the same educational expenses paid for through Xxxxxxxxx Education Savings Account distributions. To the extent a distribution is taxable, capital gains treatment does not apply to amounts distributed from the account. Similarly, the special five- and ten-year averaging rules for lump-sum distributions do not apply to distributions from a Xxxxxxxxx Education Savings Account. The taxable portion of any distribution is taxed as ordinary income. The IRS does not require withholding on distributions from Xxxxxxxxx Education Savings Accounts.

  • Withdrawals from Accounts Amounts credited to the Certificate Account and the Trust Account on any Distribution Date shall be withdrawn by Xxxxxx Xxx for application towards the distributions required hereby. In the event that amounts shall remain in the Certificate Account in any month following distribution of the Lower Tier Distribution Amount for such month, such amounts may be withdrawn by Xxxxxx Mae as compensation for its administrative and guaranty obligations or as reimbursement to Xxxxxx Xxx for any advance by it pursuant to such guaranty obligations under Sections 2.04 and 3.07 hereof. Any amount so withdrawn shall no longer be a part of the Lower Tier REMIC.

  • When Must Distributions from a Xxxx XXX Begin Unlike Traditional IRAs, there is no requirement that you begin distribution of your account during your lifetime at any particular age.

  • User Contributions The Website may contain message boards, chat rooms, personal web pages or profiles, forums, bulletin boards, and other interactive features (collectively, "Interactive Services") that allow users to post, submit, publish, display, or transmit to other users or other persons (hereinafter, "post") content or materials (collectively, "User Contributions") on or through the Website. All User Contributions must comply with these Terms of Use. Any User Contribution you post to the site will be considered non-confidential and non- proprietary. By providing any User Contribution on the Website, you grant us and our affiliates and service providers, and each of their and our respective licensees, successors, and assigns the right to use, reproduce, modify, perform, display, distribute, and otherwise disclose to third parties any such material. You represent and warrant that: • You own or control all rights in and to the User Contributions and have the right to grant the license granted above to us and our affiliates and service providers, and each of their and our respective licensees, successors, and assigns. • All of your User Contributions do and will comply with these Terms of Use. You understand and acknowledge that you are responsible for any User Contributions you submit or contribute, and you, not the Company, have full responsibility for such content, including its legality, reliability, accuracy, and appropriateness. We are not responsible or liable to any third party for the content or accuracy of any User Contributions posted by you or any other user of the Website.

  • User Account You must establish and/or maintain a "My Verizon" account at xxxx://xxxxxxx.xxx/myverizon and enable such My Verizon account to license On Demand Content (on a rental or unlimited basis). Your "My Verizon" account will then become an "On Demand Enabled Account."

  • Interest Bearing Account If the Province provides Funds before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest bearing account in the name of the Recipient at a Canadian financial institution.

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