Excess Contributions. An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.
Appears in 79 contracts
Samples: Traditional Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your IRA Xxxx XXX that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.
Appears in 70 contracts
Samples: Roth Ira Account Application & Agreement, Customer Account Agreement, Roth Individual Retirement Account Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your IRA the Xxxxxxxxx ESA that exceeds the amount that you are eligible to contributecontribution limit. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon on the excess amount. The procedure for correcting an the excess is determined by the timeliness of the correction as identified below.
Appears in 20 contracts
Samples: Coverdell Education Savings Account Custodial Account Agreement, Coverdell Education Savings Account Custodial Account Agreement, Coverdell Education Savings Account Custodial Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your IRA XXX that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.
Appears in 19 contracts
Samples: Traditional Individual Retirement Account Custodial Agreement, Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by You must file IRS Form 5329 along with your income tax return to report and remit any additional taxes to the timeliness of the correction as identified belowIRS.
Appears in 10 contracts
Samples: Ira Kit Agreement, Ira Kit Agreement, Ira Prototype Plan Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.additional
Appears in 7 contracts
Samples: Individual Retirement Custodial Account Agreement, Ira Prototype Plan Agreement, Ira Prototype Plan Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined de- termined by the timeliness of the correction as identified below.
Appears in 5 contracts
Samples: Wealth Management Agreement, Account Agreement, Account Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your IRA XXX that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an any excess is determined by the timeliness of the correction as identified below.
Appears in 3 contracts
Samples: Ira Plan Agreement, Ira Plan Agreement, Ira Plan Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your IRA XXX that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent 6% will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.
Appears in 2 contracts
Samples: Client Relationship Agreement, Client Relationship Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness time- lines of the correction as identified below.
Appears in 1 contract
Samples: Traditional Ira Plan Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.:
Appears in 1 contract
Samples: Customer Account Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.,
Appears in 1 contract
Samples: Account Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent 6% will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.
Appears in 1 contract
Samples: Client Relationship Agreement
Excess Contributions. An excess contribution is any amount that is contributed to your SEP IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.
Appears in 1 contract
Samples: Custodial Agreement
Excess Contributions. An Generally an excess IRA contribution is any contribution which exceeds the contribution limits, and such excess contribution is any subject to a 6% excise tax penalty on the principal amount that is contributed to your IRA that exceeds of the amount that you are eligible to contribute. If excess each year until the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified belowcorrected.
Appears in 1 contract
Samples: Custodial Account Agreement (National Investors Cash Management Fund Inc)
