Gift Tax. Transfer of your IRA assets to a named Beneficiary or Beneficiaries made during your life and at your request may be subject to federal gift tax under section 2501 of the Code. However, the naming of a Beneficiary or Beneficiaries generally will not subject you to gift tax liability.
Appears in 8 contracts
Samples: Simple Ira Custodial Account Agreement, Traditional Ira Custodial Account Agreement, Roth Ira Custodial Account Agreement
