Form 5305 (Rev Sample Clauses

Form 5305 (Rev. April 2017) Baird Traditional XXX Account Agreement Established Under Section 408(a) of the Code Article I Except in the case of a rollover contribution described in section 402(c), 403(a)(4), 403(b)(8), 408(d)(3), or 457(e)(16), an employer contribution to a simplified employee pension plan as described in section 408(k) or a recharacterized contribution described in section 408A(d)(6), the trustee will accept only cash contributions up to $5,500 per year for 2013 through 2017. For individuals who have reached the age of 50 by the end of the year, the contribution limit is increased to $6,500 per year for 2013 through 2017. For years after 2017, these limits will be increased to reflect a cost-of-living adjustment, if any. Article II The grantor’s interest in the balance in the trust account is nonforfeitable. 1. No part of the trust account funds may be invested in life insurance contracts, nor may the assets of the trust account be commingled with other property except in a common trust fund or common investment fund (within the meaning of section 408(a)(5)). 2. No part of the trust account funds may be invested in collectibles (within the meaning of section 408(m)) except as otherwise permitted by section 408(m)(3), which provides an exception for certain gold, silver, and platinum coins, coins issued under the laws of any state, and certain bullion. 1. Notwithstanding any provision of this agreement to the contrary, the distribution of the grantor’s interest in the trust account shall be made in accordance with the following requirements and shall otherwise comply with section 408(a)(6) and the regulations thereunder, the provisions of which are herein incorporated by reference. 2. The grantor’s entire interest in the trust account must be, or begin to be, distributed not later than the grantor’s required beginning date, April 1 following the calendar year in which the grantor reaches age 70½. By that date, the grantor may elect, in a manner acceptable to the trustee, to have the balance in the trust account distributed in: (a) A single sum, or (b) Payments over a period not longer than the life of the grantor or the joint lives of the grantor and his or her designated beneficiary. 3. If the grantor dies before his or her entire interest is distributed to him or her, the remaining interest will be distributed as follows: (a) If the grantor dies on or after the required beginning date and: (i) the designated beneficiary is the grantor’s surviving spous...
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Form 5305 (Rev. April 2017) Xxxxx Traditional IRA Account Agreement Established Under Section 408(a) of the Code‌‌ The following applies to establishing and the administration of a Traditional IRA. The grantor is establishing a Traditional individual retirement account under section 408(a) to provide for his or her retirement and for the support of his or her beneficiaries after death. The trustee named on the application has given the grantor the disclosure statement required by Regulations section 1.408-6. The grantor and the trustee make the following agreement.
Form 5305 (Rev. April 2017) Baird Traditional XXX Account Agreement Established Under Section 408(a) of the Code

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