IRA Distributions Clause Samples

The IRA Distributions clause outlines the rules and procedures for withdrawing funds from an Individual Retirement Account (IRA). It typically specifies when distributions can be made, such as upon reaching a certain age or under specific circumstances like disability or death, and may detail tax implications or required minimum distributions. This clause ensures that both the account holder and beneficiaries understand the timing, conditions, and consequences of taking money out of the IRA, thereby promoting compliance with legal requirements and helping to avoid penalties.
IRA Distributions. You or, after your death, your successor beneficiary may take an IRA distribution, in cash or in kind based on our policies, at any time. However, your distribution may be subject to income taxes, depending on the nature of the contributions previously made to the IRA or ERP.
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IRA Distributions. You or, after your death, your beneficiary may take the year you attain age 72, which is your required beginning date an IRA distribution, in cash or in kind based on our policies, at any time. (RBD). For tax years 2019 and earlier, the law required you to take However, depending on the timing and amount of your distribution you your first RMD by April 1 following the year you attained age may be subject to income taxes or penalty taxes. 70 1/2. Second year and subsequent distributions must be taken by
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Related to IRA Distributions

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

  • Final Distributions Upon the winding up of the LLC, the assets must be distributed as follows: (a) to the LLC creditors; (b) to Members in satisfaction of liabilities for distributions; and (c) to Members first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share in profits and losses.

  • Residual Distributions If the Liquidation Preference has been paid in full to all holders of Designated Preferred Stock and the corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Designated Preferred Stock as to such distribution has been paid in full, the holders of other stock of the Issuer shall be entitled to receive all remaining assets of the Issuer (or proceeds thereof) according to their respective rights and preferences.

  • REMIC Distributions On each Distribution Date the Trustee shall be deemed to have allocated distributions to the REMIC I Regular Interests, REMIC II Regular Interests, Class CE Interest, Class P Interest and Class IO Interest in accordance with Section 5.07 hereof.

  • Qualified Distributions Qualified distributions from your ▇▇▇▇ ▇▇▇ (both the contributions and earnings) are not included in your income. A qualified distribution is a distribution which is made after the expiration of the five-year period beginning January 1 of the first year for which you made a contribution to any ▇▇▇▇ ▇▇▇ (including a conversion from a Traditional IRA), and is made on account of one of the following events. • Attainment of age 59½ • Disability • First-time homebuyer purchase • Death For example, if you made a contribution to your ▇▇▇▇ ▇▇▇ for 2007, the five-year period for determining whether a distribution is a qualified distribution is satisfied as of January 1, 2012.