Qualified HSA Funding Distributions. If you are eligible to contribute to an HSA, you may be eligible to take a one-time, tax-free HSA funding distribution from your XXX and directly deposit it to your HSA. The amount of the qualified HSA funding distribution may not exceed the maximum HSA contribution limit in effect for the type of HDHP coverage (i.e., self-only or family coverage) that you have at the time of the deposit, and counts toward your HSA contribution limit for that year. If you do not remain HSA-eligible (for reasons other than death or disability) for 12 months following the transaction, the amount of the transaction is subject to taxation and a 10 percent penalty tax. For further detailed information, see IRS Publication 969, Health Savings Accounts and Other Tax-
Appears in 7 contracts
Samples: Health Savings Account Custodial Agreement, Health Savings Account Custodial Agreement, Health Savings Account Custodial Agreement
Qualified HSA Funding Distributions. If you are eligible to contribute to an HSA, you may be eligible to take a one-time, tax-free HSA funding distribution from your XXX IRA and directly deposit it to your HSA. The amount of the qualified HSA funding distribution may not exceed the maximum HSA contribution limit in effect for the type of HDHP coverage (i.e., self-only or family coverage) that you have at the time of the deposit, and counts toward your HSA contribution limit for that year. If you do not remain HSA-eligible (for reasons other than death or disability) for 12 months following the transaction, the amount of the transaction is subject to taxation and a 10 percent penalty tax. For further detailed information, see IRS Publication 969, Health Savings Accounts and Other Tax-
Appears in 3 contracts
Samples: Hsa Custodial Deposit Agreement and Investment Addendum, Health Savings Account Agreement, Health Savings Account Agreement
Qualified HSA Funding Distributions. If you are eligible to contribute to an HSA, you may be eligible to take a one-timeone‐time, tax-free tax‐free HSA funding distribution from your XXX and directly deposit it to your HSA. The amount of the qualified HSA funding distribution may not exceed the maximum HSA contribution limit in effect for the type of HDHP coverage (i.e., self-only self‐only or family coverage) that you have at the time of the deposit, and counts toward your HSA contribution limit for that year. If you do not remain HSA-eligible HSA‐eligible (for reasons other than death or disability) for 12 months following the transaction, the amount of the transaction is subject to taxation and a 10 percent penalty tax. For further detailed information, see IRS Publication 969, Health Savings Accounts and Other Tax-Tax‐
Appears in 1 contract
Samples: Health Savings Account Agreement
Qualified HSA Funding Distributions. If you are eligible to contribute to an HSA, you may be eligible to take a one-timeone−time, tax-free tax−free HSA funding distribution from your XXX and directly deposit it to your HSA. The amount of the qualified HSA funding distribution may not exceed the maximum HSA contribution limit in effect for the type of HDHP coverage (i.e., self-only self−only or family coverage) that you have at the time of the deposit, and counts toward your HSA contribution limit for that year. If you do not remain HSA-eligible HSA−eligible (for reasons other than death or disability) for 12 months following the transaction, the amount of the transaction is subject to taxation and a 10 percent penalty tax. For further detailed information, see IRS Publication 969, Health Savings Accounts and Other Tax-Savings
Appears in 1 contract
Qualified HSA Funding Distributions. If you are eligible to contribute to an HSA, you may be eligible to take a one-time, tax-free HSA funding distribution from your XXX and directly deposit it to your HSA. The amount of the qualified HSA funding distribution may not exceed the maximum HSA contribution limit in effect for the type of HDHP coverage (i.e., self-only or family coverage) that you have at the time of the deposit, and counts toward your HSA contribution limit for that year. If you do not remain HSA-eligible (for reasons other than death or disability) for 12 months following the transaction, the amount of the transaction is subject to taxation and a 10 percent penalty tax. For further detailed information, see IRS Publication 969, Health Savings Accounts and Other Tax-Tax-Favored Health Plans.
Appears in 1 contract
