EARLY DISTRIBUTIONS FROM A XXXX XXX. The earnings portion of distributions made prior to the end of the five- year holding period, or which fail to meet the criteria as outlined in “Taxation of Xxxx XXX Distributions”, are subject to ordinary income taxes. The earnings portion of the distribution is also subject to the 10% penalty tax on early distributions unless one of the following exceptions applies to the distribution:
Appears in 4 contracts
Samples: Inherited Ira Adoption Agreement, Ira Adoption Agreement, Inherited Ira Adoption Agreement
EARLY DISTRIBUTIONS FROM A XXXX XXX. The earnings portion of distributions made prior to the end of the five- five-year holding period, or which fail to meet the criteria as outlined in “Taxation of Xxxx XXX Distributions”, are subject to ordinary income taxes. The earnings portion of the distribution is also subject to the 10% penalty tax on early distributions unless one of the following exceptions applies to the distribution:
Appears in 3 contracts
Samples: Ira Adoption Agreement and Application, Custodial Account Agreement, Inherited Ira Application and Adoption Agreement
