No Rollovers of RMDs. An RMD must be satisfied before you can each subsequent year. roll over any portion of your SIMPLE IRA account balance. The If your spouse chooses the ten-year rule, he/she is required to first distributions made during a year will be considered RMDs and remove all assets from the SIMPLE IRA by December 31 of the can be satisfied by earlier distributions from your other traditional tenth year following the year of your death. IRAs or SIMPLE IRAs that are aggregated. Any RMD that is rolled If your spouse is the only designated beneficiary, or if there are over will be subject to taxation and considered an excess multiple designated beneficiaries and separate accounting applies, contribution until corrected. he/she can treat your SIMPLE IRA as his/her own IRA after 6. Transfers of RMDs. Transfers are not considered distributions. your death even if he/she had chosen one of the options above. You can transfer any portion of your traditional IRA or SIMPLE This generally happens after any of your remaining RMD IRA at any time during the year provided you satisfy your aggregate amount for the year of your death has been distributed. RMDs before the end of the distribution year. Your spouse beneficiary can take a distribution of part or all of
Appears in 3 contracts
Samples: Customer Agreement, Customer Agreement, Customer Agreement
No Rollovers of RMDs. An RMD must be satisfied before you can each subsequent year. roll over any portion of your SIMPLE IRA XXX account balance. The If your spouse chooses the ten-year rule, he/she is required to first distributions made during a year will be considered RMDs and remove all assets from the SIMPLE IRA XXX by December 31 of the can be satisfied by earlier distributions from your other traditional tenth year following the year of your death. IRAs or SIMPLE IRAs that are aggregated. Any RMD that is rolled If your spouse is the only designated beneficiary, or if there are over will be subject to taxation and considered an excess multiple designated beneficiaries and separate accounting applies, contribution until corrected. he/she can treat your SIMPLE IRA XXX as his/her own IRA XXX after 6. Transfers of RMDs. Transfers are not considered distributions. your death even if he/she had chosen one of the options above. You can transfer any portion of your traditional IRA XXX or SIMPLE This generally happens after any of your remaining RMD IRA XXX at any time during the year provided you satisfy your aggregate amount for the year of your death has been distributed. RMDs before the end of the distribution year. Your spouse beneficiary can take a distribution of part or all of
Appears in 2 contracts
Samples: Customer Agreement, Customer Agreement
