Reports to the IRS. You must file Form 5329 with the IRS for each taxable year that you owe penalty taxes on excess contributions, premature distributions, and prohibited transactions. You must file Form 8606 with the IRS for each taxable year that you make a conversion to, a recharacterization of, or a distribution from a Xxxx XXX.
Appears in 2 contracts
Samples: Roth Individual Retirement Account Custodial Account Agreement, Roth Individual Retirement Account Custodial Account Agreement
Reports to the IRS. You must file Form 5329 with the IRS for each taxable year that you owe penalty taxes on excess contributions, premature distributions, prohibited transactions and prohibited transactionsunderdistributions. You must file Form 8606 with the IRS for each taxable year that in which you make a conversion to, non-deductible contribution and for any subsequent year in which you make a recharacterization of, or a distribution from a Xxxx XXXwithdrawal.
Appears in 2 contracts
Samples: Traditional Individual Retirement Account Custodial Account Agreement, Traditional Individual Retirement Account Custodial Account Agreement
Reports to the IRS. You must file Form 5329 with the IRS for each taxable year that you owe penalty taxes on excess contributions, premature distributions, prohibited transactions and prohibited transactions. You must file Form 8606 with the IRS for each taxable year that you make a conversion to, a recharacterization of, or a distribution from a Xxxx XXXunderdistributions.
Appears in 1 contract
Samples: Custodial Account Agreement
