Common use of Inherited Xxxx XXX Clause in Contracts

Inherited Xxxx XXX. If you are a beneficiary who inherits a Xxxx XXX from a deceased Depositor (or deceased Beneficiary), you may maintain the tax deferred status of those inherited assets in an Inherited Xxxx XXX. Contributions are not permitted to be made to an Inherited Xxxx XXX. An Inherited Xxxx XXX may also be referred to as a Xxxx Beneficiary Distribution Account (Xxxx XXX BDA). A beneficiary of an Inherited Xxxx XXX is generally required to take annual minimum distributions from the account.

Appears in 4 contracts

Samples: Retirement Account Customer Agreement, Roth Ira Custodial Agreement, Ira Custodial Agreement

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Inherited Xxxx XXX. If you are a beneficiary who inherits a Xxxx XXX from a deceased Depositor (or deceased Beneficiary), you may maintain the tax deferred status of those inherited assets in an Inherited Xxxx XXX. Contributions are not permitted to be made to an Inherited Xxxx XXX. An Inherited Xxxx XXX may also be referred to as a Xxxx Beneficiary Distribution Account (Xxxx XXX BDA). A beneficiary of an Inherited Xxxx XXX is generally required The following information may apply to take annual minimum distributions from the accountboth Depositors and Beneficiaries, except as otherwise clearly indicated.

Appears in 1 contract

Samples: Roth Ira Custodial Agreement

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