Pledging XXX. If you pledge any portion of your XXX 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 4 contracts
Samples: Traditional Ira Custodial Account Agreement, Traditional Ira Custodial Account Agreement, Traditional Ira Custodial Account Agreement
Pledging XXX. If you pledge any portion of your Xxxx XXX 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
Samples: Roth Ira Custodial Account Agreement, Roth Ira Custodial Account Agreement, Roth Inherited Ira Adoption Agreement
Pledging XXX. If you pledge any portion of your SIMPLE XXX 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
Samples: Simple Ira Custodial Account Agreement, Simple Ira Custodial Account Agreement
