Qualification of Plan. Your Individual Retirement Account Plan has been approved as to form by the Internal Revenue Service. The Internal Revenue Service approval is a determination only as to the form of the Plan and does not represent a determination of the merits of the Plan as adopted by you. You may obtain further information with respect to your Individual Retirement Account from any district office of the Internal Revenue Service.
Qualification of Plan. Prior to January 1, 2024, ATMCo shall provide NCR with (i) a copy of the ATMCo 401(k) Plan, (ii) a copy of certified resolutions of the ATMCo Board (or its authorized committee or other delegate) evidencing adoption of the ATMCo 401(k) Plan and the related trust(s) and the assumption by the ATMCo 401(k) Plan of the accounts described in Section 5.02(c) hereto, and (iii) the application for determination with respect to the qualified status of the ATMCo 401(k) Plan under Section 401(a) of the Code and the tax-exempt status of its related trust under Section 501(a) of the Code (or application for an opinion or advisory letter, as applicable).
Qualification of Plan. If the Plan is denied initial qualification upon timely application, it will be treated as void from the beginning. It will be terminated and all amounts contributed to the Plan, less expenses paid, shall be returned to us within one year after the date of denial. If amounts have been contributed by Employees, we shall refund to each Employee the amount made by him or, if less, the amount then in his Account resulting from such amounts. The Insurer and Trustee shall be discharged from all further obligations. If the Plan fails to attain or retain qualification, it shall no longer participate in this prototype plan and shall be considered an individually designed plan.
Qualification of Plan. We intend to apply for an advance determination letter from the Internal Revenue Service for the initial qualification of the Plan, and, if the Plan is trusteed, determination of the exempt status of the Trust. If the Plan is denied initial qualification, it will terminate. We shall give written notice to the Insurer and Trustee of the denial in sufficient time so the assets resulting from Contributions which were conditioned on initial qualification of the Plan may be returned within one year after the date of denial, but only if the application for the qualification is made by the time prescribed by law for filing our return for the taxable year in which the Plan is adopted, or such later date as the Secretary of the Treasury may prescribe. The Insurer will be notified that the Annuity Contract is to be terminated. The Plan assets which result from Employer Contributions and Member Contributions shall be returned to us and the Members, respectively. The Trustee, the Plan Administrator and the Named Fiduciary shall then be discharged from all obligations under the Plan and Trust and the Insurer shall be discharged from all obligations under the Annuity Contract A Member or Beneficiary shall not have any right or claim to the assets or to any benefit under this Plan before the Internal Revenue Service determines that the Plan and Trust qualify under the provisions of Section 401(a) of the Code. If the Plan loses its qualified status, it shall no longer be a prototype plan within the meaning of governmental regulations. In that event, Principal Mutual Life Insurance Company will no longer be the Plan sponsor. We agree to give written notification to Principal Mutual Life Insurance Company of the loss of qualification.
Qualification of Plan. Notwithstanding any other provisions herein contained, the Trust Agreement is entered into on the condition that the Plan and the Trust Agreement, as initially established, shall be approved by the Internal Revenue Service (the “IRS”) as a qualified and exempt plan and trust under the provisions of the Code and the Treasury Regulations. If such approval should be denied for any reason (including failure to comply with any conditions for such approval imposed by the IRS), contributions made on or after the execution of the Trust Agreement and prior to such denial shall, upon the direction of the Committee, which shall be given in conformity with the provisions of ERISA, be returned to the Employer or the party who made it, as directed by the Employer, without any liability to any person, within one year after the date of denial of such approval and all remaining assets in the Trust shall be returned to the Employers.
Qualification of Plan. 16 SIGNATURES................................................................................ 16 ADDENDUM 1 ADOPTION AGREEMENT APPALACHIAN BANCSHARES, INC. SECTION 401(K) PROFIT SHARING PLAN ----------------------------- The undersigned organization hereby adopts a Section 401(k) Profit Sharing Plan pursuant to the Georgia Bankers Association Master Section 401(k) Profit Sharing Plan (the "Master Plan"), upon the terms and conditions set forth in this Adoption Agreement and the terms and conditions of the Master Plan and the Master Trust Agreement. Words and phrases used in this Adoption Agreement shall have the same meanings provided in Article II of the Master Plan. This Adoption Agreement may be used only in conjunction with the Master Plan (BPD 01). Failure to properly complete the Adoption Agreement may result in disqualification of the Plan. In accordance with the provisions of the Master Plan, the Company furnishes to the Master Plan Sponsor the following information and elections concerning its Plan:
Qualification of Plan. The Company may not rely on any opinion letter issued by the National Office of the Internal Revenue Service on the Master Plan as evidence that the Plan is qualified under Section 401 of the Code. In order to obtain reliance with respect to the Plan's qualification, the Company must apply to the appropriate key district office of the Internal Revenue Service for a determination letter.
Qualification of Plan. The City reserves the right to make such amendments to this Plan, if any, as will be required to enable this Plan to qualify for tax purposes under Section 401(a) of the Internal Revenue Code as a tax-qualified plan.
Qualification of Plan. 19.1. If the plan is not a standardized form plan, the Employer shall promptly submit the plan (including the Adoption Agreement and all necessary supporting documents), and all amendments permitted under Section 8.1.2 which are made by the Employer to the plan, to the Internal Revenue Service with a request for a determination letter that the plan as applied to the Employer meets the qualification requirements of Section 401(a) of the Code and that the trust constituting a part of the plan is exempt under Section 501(a) of the Code.
19.2. Should the Internal Revenue Service determine pursuant to such initial submission that the plan as applied to the Employer does not so qualify, the following procedures shall be followed:
19.2.1. Notwithstanding any other provisions of the plan, the plan as applied to the Employer shall be deemed cancelled, the Employer shall not be a party to the plan, and no employee of the Employer or person claiming under any such employee shall have any right or claim to any asset or benefit of the trust fund, except as provided in Section 19.2.3.
19.2.2. The Trustee shall liquidate the trust of the Employer and, after paying or making provision for the compensation of the Trustee and any expenses of admini- stration or liquidation of the trust, shall pay the balance of the proceeds of such liquidation to the Employer.
19.2.3. The Employer shall refund to each employee the amount of any contribution made by him (or, if less, the amount of such contribution then in his account).
19.3. The Employer shall promptly advise the Trustee should it be notified by the Internal Revenue Service that the plan as applied to the Employer is no longer qualified as specified in Section 19.
1. If the plan as applied to the Employer is disqualified, such plan will no longer participate in this master plan and will be considered an individually designed plan. In all such cases all sums then held in the trust for the account of the Employer shall be segregated or otherwise disposed of for the exclusive benefit of the employees of the Employer within 30 days after final determination of disqualification.
Qualification of Plan. Notwithstanding any other provisions herein contained, the Trust Agreement is entered into on the condition that the Plan and the Trust Agreement shall be approved by the Internal Revenue Service and the Puerto Rico Department of Treasury as a qualified and exempt plan and trust under the provisions of the US Code, the PR Code and any applicable regulations. If such approval should be denied for any reason (including failure to comply with any conditions for such approval imposed by the United States Internal Revenue Service or the Puerto Rico Department of Treasury), contributions made after the execution of the Trust Agreement and prior to such denial shall, upon the direction of the Committee, which shall be given in conformity with the provisions of ERISA, be returned to the Company or the party who made it, as directed by the Company, without any liability to any person, within one year after the date of denial of such approval. All remaining assets in the Trust shall be returned to the Company.
