Rollover and Transfer Contributions. Xxxxxxxxx ESAs may be rolled over to another Xxxxxxxxx ESA for the same Designated Beneficiary, or to another Xxxxxxxxx ESA for another Designated Beneficiary who is an eligible Family Member so long as the new Designated Beneficiary is under the age of 30. • Trustee-to-Trustee transfers are allowed between Xxxxxxxxx ESAs that are registered in the name of a single Designated Beneficiary. Trustee-to- Trustee transfers are also allowed between Xxxxxxxxx ESAs of a Designated Beneficiary and a Family Member of the Designated Beneficiary. • The amount of any rollover or transfer must be deposited into the receiving Xxxxxxxxx ESA within 60 calendar days after the amount is withdrawn from the distributing Xxxxxxxxx ESA. • Only one rollover between Xxxxxxxxx ESAs is allowed during a 12-month (365 day) period. • Rather than rolling over or transferring the assets of a Xxxxxxxxx ESA to another Xxxxxxxxx ESA, the Designated Beneficiary of a Xxxxxxxxx ESA may be changed (or redesignated as) to another Designated Beneficiary who has not attained age 30 and who is a Family Member.
Rollover and Transfer Contributions. Xxxxxxxxx ESAs may be rolled over or redesignated to another designated beneficiary, who is an eligible family member as defined in Code section 529(e)(2), as long as the new designated beneficiary is under the age of 30. Rollovers must be completed within 60 calendar days of the date of receipt. Only one rollover per Xxxxxxxxx ESA is allowed during the 12-month period ending on the date of the payment or distribution. Trustee-to-Trustee Transfers are also allowed between Xxxxxxxxx ESAs registered in the name of the Designated Beneficiary or between an eligible family member of the Designated Beneficiary. For more information see the section titled “GENERAL QUESTIONS AND ANSWERS” (Q&A #24).
Rollover and Transfer Contributions. If so elected in the Adoption Agreement, the Plan may accept rollover and/or transfer contributions. Such Rollover and/or transfer may be made by an Employee who has not become a Participant under the Plan, if elected by the Employer in the Adoption Agreement. The Plan Administrator may require written documentation that such rollover and/or transfer would qualify as an allowable transfer or rollover contribution by the Participant. Such rollover and transfer contributions shall be made without regard to the limitations specified in Section 14.45 of the Plan.
Rollover and Transfer Contributions. Xxxxxxxxx ESAs may be rolled over to another Xxxxxxxxx ESA for the same Designated Beneficiary, or to another Xxxxxxxxx ESA for another Designated Beneficiary who is an eligible Family Member so long as the new Designated Beneficiary is under the age of 30. • Trustee-to-Trustee transfers are allowed between Xxxxxxxxx ESAs that are registered in the name of a single Designated Beneficiary. Trustee-to-Trustee transfers are also allowed between Xxxxxxxxx ESAs of a Designated Beneficiary and a Family Member of the Designated Beneficiary. • The amount of any rollover or transfer must be deposited into the receiving Xxxxxxxxx ESA within 60 calendar days after the amount is withdrawn from the distributing Xxxxxxxxx ESA. • Only one rollover between Xxxxxxxxx ESAs is allowed during a 12-month (365 day) period. • Rather than rolling over or transferring the assets of a Xxxxxxxxx ESA to another Xxxxxxxxx ESA, the Designated Beneficiary of a Xxxxxxxxx ESA may be changed (or redesignated as) to another Designated Beneficiary who has not attained age 30 and who is a Family Member.
1. What are Qualified Education Expenses?
2. What are Qualified Higher Education Expenses? Qualified Higher Education Expenses also include room and board if the Designated Beneficiary is at least a half-time student at an eligible educational institution. A student will be considered to be enrolled at least half-time if the student is enrolled for at least half the full-time academic workload for the course of study the student is pursuing as determined under the standards of the institution where the student is enrolled.
Rollover and Transfer Contributions. All or a portion of certain distributions from qualified employer plans, tax-sheltered annuities, governmental deferred compensation plans under Code Section 457(b), and distributions from certain other XXX plans may be rolled-over (distributed to you and then contributed to the XXX) or transferred (moved directly from the plan to the XXX) tax-free to an XXX, although a rollover must be made within 60 days after receipt of the distribution. Rollover transactions from any single XXX may occur no more than once in any 365- day period (beginning on the date you receive the distribution eligible to be rolled over, not the date the rollover contribution is made). No limit applies to the number of transfers that can be made in any year. No transfer or rollover of funds from a Participant’s SIMPLE XXX may be made to the State Farm Mutual Funds Traditional XXX prior to the expiration of the 2-year period beginning on the first date on which contributions made by the Participant’s employer are deposited into the Participant’s SIMPLE XXX. Rollovers from qualified employer plans, tax-sheltered annuities, and governmental deferred compensation plans under Code Section 457(b) may be retained in an XXX and under certain conditions may subsequently be rolled-over or transferred tax-free to another such plan or annuity. A surviving spouse who is the beneficiary of an XXX or qualified retirement plan is permitted to roll over a distribution from the XXX or plan into an XXX. The spouse may elect to treat the XXX as his or her own XXX. A beneficiary who is not a participant’s spouse is permitted to make a tax-free direct trustee-to-trustee transfer of a deceased participant’s interest in a qualified retirement plan to an XXX for the benefit of the beneficiary. The XXX is treated as an “inherited XXX” which means that it is issued in the name of the deceased participant for the benefit of the beneficiary, and the required minimum distribution rules applicable upon death apply to the XXX. Unlike a surviving spouse, the non-spouse beneficiary may not treat the XXX as his or her own XXX and may not make additional contributions to the XXX. Strict limitations set forth in Code Section 408(d)(3) apply to rollovers and transfers. You should seek competent tax advice in order to ensure compliance with the rules governing tax-free rollovers and transfers.
Rollover and Transfer Contributions. A Participant may make a Rollover or Transfer Contribution to the Plan as described in this Section.
Rollover and Transfer Contributions. All or a portion of distributions from other SIMPLE XXX plans may be rolled-over (distributed to you and then contributed to this SIMPLE XXX) or transferred (moved directly from the other SIMPLE XXX to this SIMPLE XXX) tax-free to this SIMPLE XXX, although a rollover must be made within 60 days after receipt of the distribution. Rollover transactions from any single SIMPLE XXX may occur no more than once in any 365-day period (beginning on the date you receive the distribution eligible to be rolled over, not the date the rollover contribution is made). No limit applies to the number of transfers that can be made in any year. Prior to the expiration of the 2-year period beginning on the first date on which contributions made by the Participant’s employer are deposited into the Participant’s SIMPLE XXX, any rollover or transfer by you of funds from this SIMPLE XXX must be made to another SIMPLE XXX maintained by you. Any distribution of funds to you during this 2-year period may be subject to a 25-percent additional tax if you do not roll over the amount distributed into a SIMPLE XXX as described in section 6 under “Premature Distributions”. After the expiration of this 2-year period, you may roll over or transfer funds to any XXX you maintain that is qualified under section 408(a), (b) or (p) of the Code, or to another eligible retirement plan described in section 402(c)(8)(B) of the Code. Strict limitations set forth in section 408(d)(3) of the Code apply to rollovers and transfers. You should seek competent tax advice in order to ensure compliance with the rules governing tax-free rollovers and transfers.
Rollover and Transfer Contributions. A Participant is fully Vested in his or her rollover contributions and transfer contributions.
Rollover and Transfer Contributions. What is a Rollover Contribution?
Rollover and Transfer Contributions
