Income Tax Treatment. Any withdrawal from your IRA is subject to federal income tax withholding. You may, however, elect not to have withholding apply to your IRA withdrawal. If withholding is applied to your withdrawal, not less than 10 percent of the amount withdrawn must be withheld.
Appears in 4 contracts
Samples: Traditional Individual Retirement Custodial Account Agreement, Traditional Individual Retirement Custodial Account Agreement, Custodial Agreement
Income Tax Treatment. Any withdrawal from your Traditional IRA is subject to federal income tax withholding. Any nonqualified withdrawal of earnings from your Xxxx XXX may be subject to federal income tax withholding. You may, however, elect not to have withholding apply to your IRA withdrawal. If withholding is applied to your withdrawal, not less than 10 percent of the amount withdrawn must be withheld.
Appears in 4 contracts
Samples: Ira Prototype Agreement and Disclosure Statement, Ira Prototype Agreement and Disclosure Statement, Ira Prototype Agreement
Income Tax Treatment. Any withdrawal from your SIMPLE IRA is subject to federal income tax withholding. You may, however, elect not to have withholding apply to your SIMPLE IRA withdrawal. If withholding is applied to your withdrawal, not less than 10 percent of the amount withdrawn must be withheld.
Appears in 3 contracts
Samples: Simple Ira Plan Establishment, Custodial Agreement, Adoption Agreement Simple Ira
