Common use of No Rollovers of RMDs Clause in Contracts

No Rollovers of RMDs. An RMD must be satisfied before you can roll over any portion of your SIMPLE IRA account balance. The first distributions made during a year will be considered RMDs and can be satisfied by earlier distributions from your other traditional IRAs or SIMPLE IRAs that are aggregated. Any RMD that is rolled over will be subject to taxation and considered an excess contribution until corrected.

No Rollovers of RMDs. An RMD must be satisfied before you can roll over any portion of your SIMPLE IRA XXX account balance. The first distributions made during a year will be considered RMDs and can be satisfied by earlier distributions from your other traditional IRAs (including SEP IRAs) or SIMPLE IRAs that are aggregated. Any RMD that is rolled over will be subject to taxation fully taxable and considered an excess contribution until corrected.

No Rollovers of RMDs. An RMD must be satisfied before you can roll over any portion of your SIMPLE IRA account balance. The first distributions made during a year will be considered RMDs and can be satisfied by earlier distributions from your other traditional IRAs (including SEP IRAs) or SIMPLE IRAs that are aggregated. Any RMD that is rolled over will be subject to taxation fully taxable and considered an excess contribution until corrected.

No Rollovers of RMDs. An RMD must be satisfied before you can roll over any portion of your SIMPLE IRA account balance. The first distributions made during a year will be considered RMDs and can be satisfied by earlier distributions from your other traditional IRAs or SIMPLE IRAs that are aggregated. Any RMD that is rolled over will be subject to taxation and considered an excess contribution until corrected.