Pledging IRA. If you pledge any portion of your IRA as collateral for a personal loan, the amount so pledged will be treated as a distribution. If you are under age 59½, the amount pledged may also be subject to the 10% early distribution penalty tax.
Appears in 6 contracts
Sources: Roth Ira Custodial Account Agreement, Traditional Ira Custodial Account Agreement, Account Application and Agreement
Pledging IRA. If you pledge any portion of your IRA ▇▇▇▇ ▇▇▇ as collateral for a personal loan, the amount so pledged will be treated as a distribution. If you are under age 59½, the amount pledged may also be subject to the 10% early distribution penalty tax.
Appears in 3 contracts
Sources: Roth Ira Custodial Account Agreement, Account Application and Agreement, Account Application and Agreement
Pledging IRA. If you pledge any portion of your SIMPLE IRA as collateral for a personal loan, the amount so pledged will be treated as a distribution. If you are under age 59½, the amount pledged may also be subject to the 10% early distribution penalty tax.
Appears in 2 contracts
Sources: Simple Ira Custodial Account Agreement, Simple Ira Custodial Account Agreement
Pledging IRA. If you pledge any portion of your IRA as collateral for a personal loan, the amount so pledged will be treated as a distribution. If you are under age 59½5e½, the amount pledged may also be subject to the 10% early distribution penalty tax.
Appears in 1 contract