Removal After Your Tax Filing Deadline. If you are correcting an excess contribution after your tax filing deadline, including extensions, remove only the amount of the excess contribution. The six percent excess contribution penalty tax will be imposed on the excess contribution for each year it remains in the IRA. An excess withdrawal under this method will only be taxable to you if the total contributions made in the year of the excess exceed the annual applicable contribution limit.
Appears in 107 contracts
Samples: Traditional Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement
Removal After Your Tax Filing Deadline. If you are correcting an excess contribution after your tax filing deadline, including extensions, remove only the amount of the excess contribution. The six percent excess contribution penalty tax will be imposed on the excess contribution for each year it remains in the IRAXxxx XXX. An excess withdrawal under this method will only be is not taxable to you if the total contributions made in the year of the excess exceed the annual applicable contribution limityou.
Appears in 70 contracts
Samples: Roth Ira Account Application & Agreement, Customer Account Agreement, Roth Individual Retirement Account Agreement
Removal After Your Tax Filing Deadline. If you are correcting an excess contribution after your tax filing deadline, including extensions, remove only the amount of the excess contribution. The six percent excess contribution penalty tax will be imposed on the excess contribution for each year it remains in the IRAXXX. An excess withdrawal under this method will only be taxable to you if the total contributions made in the year of the excess exceed the annual applicable contribution limit.
Appears in 18 contracts
Samples: Traditional Individual Retirement Account Custodial Agreement, Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement
Removal After Your Tax Filing Deadline. If IIf you are correcting an excess contribution after your tax filing deadline, including extensions, remove only the amount of the excess contribution. The six percent excess contribution penalty tax will be imposed on the excess contribution for each year it remains in the IRAXxxx XXX. An excess withdrawal under this method will only be is not taxable to you if the total contributions made in the year of the excess exceed the annual applicable contribution limityou.
Appears in 2 contracts
Samples: Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement
Removal After Your Tax Filing Deadline. If you are correcting an excess contribution after your tax filing deadline, including extensions, remove only the amount of the excess contribution. The six percent excess contribution penalty tax will be imposed on the excess contribution for each year it remains in the IRAXXX. An excess withdrawal under this method will only be taxable to you if the total contributions made in the year of the excess exceed the annual applicable contribution limit.this
Appears in 2 contracts
Samples: Ira Plan Agreement, Ira Plan Agreement
Removal After Your Tax Filing Deadline. If you are correcting an excess contribution after your tax filing deadline, including extensions, remove only the amount of the excess contribution. The six percent excess contribution penalty tax will be imposed on the excess contribution for each year it remains in the SEP IRA. An excess withdrawal under this method will only be taxable to you if the total contributions made in the year of the excess exceed the annual applicable contribution limit.
Appears in 1 contract
Samples: Custodial Agreement
Removal After Your Tax Filing Deadline. If you are correcting an excess contribution con- tribution after your tax filing deadline, including extensions, remove only the amount of the excess contribution. The six percent excess contribution penalty tax will be imposed on the excess contribution for each year it remains in the IRA. An excess withdrawal under this method will only be taxable to you if the total contributions made in the year of the excess exceed the annual applicable contribution contri- bution limit.
Appears in 1 contract
Samples: Traditional Ira Plan Agreement