Common use of Five-Year Holding Period Clause in Contracts

Five-Year Holding Period. The five-year holding period begins with qualified HSA funding distribution election is irrevocable and is the earlier of the first year for which you made any regular Xxxx XXX generally available once in your lifetime. A testing period applies. contribution, the first year in which you made a conversion from a The testing period for this provision begins with the month of the traditional IRA to any Xxxx XXX, the first year of a rollover or direct contribution to your HSA and ends on the last day of the 12th month rollover of designated Xxxx account assets to any Xxxx XXX, the first following such month. If you are not an eligible individual for the year of a rollover or direct rollover of ERP assets to any Xxxx XXX, entire testing period, unless you die or become disabled, the amount the first year of a qualified distribution repayment to any Xxxx XXX, of the distribution made under this provision may be includable in or the first year of any other contribution treated as a qualified gross income for the tax year of the month you are not an eligible rollover contribution. individual, and may be subject to a 10 percent penalty tax.

Five-Year Holding Period. The five-year holding period begins with qualified HSA funding distribution election is irrevocable and is the earlier of the first year for which you made any regular Xxxx XXX generally available once in your lifetime. A testing period applies. contribution, the first year in which you made a conversion from a The testing period for this provision begins with the month of the traditional IRA XXX to any Xxxx XXX, the first year of a rollover or direct contribution to your HSA and ends on the last day of the 12th month rollover of designated Xxxx account assets to any Xxxx XXX, the first following such month. If you are not an eligible individual for the year of a rollover or direct rollover of ERP assets to any Xxxx XXX, entire testing period, unless you die or become disabled, the amount the first year of a qualified distribution repayment to any Xxxx XXX, of the distribution made under this provision may be includable in or the first year of any other contribution treated as a qualified gross income for the tax year of the month you are not an eligible rollover contribution. individual, and may be subject to a 10 percent penalty tax.