Common use of Qualified Distributions Clause in Contracts

Qualified Distributions. A qualified distribution from your Xxxx XXX is not subject to federal income tax. A qualified distribution may be made after five or more years provided you (i) are age 59½ or older, (ii) are disabled, (iii) qualify for a special purpose distribution such as the purchase of a first home, or (iv) are deceased.

Appears in 24 contracts

Samples: Custodial Agreement, Custodial Agreement, Roth Individual Retirement Account Custodial Agreement

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Qualified Distributions. A qualified distribution from your Xxxx XXX is not subject to federal income tax. A qualified distribution may be made after five or more years provided you (i) are age 59½ or older, ; (ii) are disabled, (iii) qualify for a special purpose distribution such as the purchase of a first home, or (iv) are deceased.

Appears in 4 contracts

Samples: Roth Individual Retirement Account Custodial Agreement, Roth Individual Retirement Account Custodial Agreement, Traditional and Roth Individual Retirement Account Custodial Agreement

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