Common use of Rollover Contributions Clause in Contracts

Rollover Contributions. A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There If you are two kinds of rollover contributions required to an IRA. Xx one, take minimum distributions because you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan are age 70½ or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. Howeverolder, you may not deduct roll over any required minimum distributions. Both the distribution and the rollover contribution are reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. IRA-to-IRA Rollover: You may withdraw, tax free, all or a portion of your Traditional IRA if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Traditional IRA as a rollover. To complete a rollover contribution of a SIMPLE IRA distribution to your IRA xx your tax return. If you receive a distribution Traditional IRA, at least two years must have elapsed from the qualified date on which you first participated in any SIMPLE IRA plan of your employer or former maintained by the employer, and you must contribute the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it within 60 days from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after date you receive it. An "eligible Only one IRA distribution within any 12-month period may be rolled over in an IRA-to-IRA rollover distribution" is transaction. The 12-month waiting period begins on the date you receive an IRA distribution that you subsequently roll over, not on the date you complete the rollover transaction. If you roll over the entire amount of an IRA distribution (including any amount withheld for federal, state, or other income taxes that you did not receive), you do not have to report the distribution from a qualified plan that would as taxable income. Any amount not properly rolled over within the 60-day period will generally be taxable other than in the year distributed (1except for any amount that represents basis) a and may be, if you are under age 59½, subject to the premature distribution penalty tax. Employer Retirement Plan-to-Traditional IRA Rollover (by Traditional IRA Owner): Eligible rollover distributions from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Traditional IRA. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that is one may not be rolled over to your Traditional IRA include any required minimum distributions, hardship distributions, any part of a series of substantially equal periodic payments payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover from an employer plan to your Traditional IRA, you must generally instruct the plan administrator to send the distribution to your Traditional IRA Custodian. To complete an indirect rollover to your Traditional IRA, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution to complete an indirect rollover. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for an employee's life or over a period of 10 years or moreany amount that represents after-tax contributions) and may be, (2) a required if you are under age 59½, subject to the premature distribution after you attain age 70 1/2 and (3) certain corrective distributionspenalty tax. If you choose the entire indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount in for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the full amount. If you do not make up the withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Conduit IRA: You may use your IRA xxx been contributed as a conduit to temporarily hold amounts you receive in a tax-free an eligible rollover distribution from an employer’s retirement plan. Should you combine or add other amounts (e.g., regular contributions) to your employer's or former employer's qualified plan or 403(b) planconduit IRA, you may later lose the ability to subsequently roll over these funds into another employer plan to take advantage of special tax rules available for certain qualified plan distribution amounts. Consult your tax advisor for additional information. Employer Retirement Plan-to-Traditional IRA Rollover (by Inherited Traditional IRA Owner): Please refer to the IRA xx a new section of this document entitled “Inherited IRA”. Traditional IRA-to-Employer Retirement Plan Rollover: If your employer's ’s retirement plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. Howeveraccepts rollovers from IRAs, you may later complete a direct or indirect rollover of your pre-tax assets in your Traditional IRA into your employer retirement plan. If you are required to take minimum distributions because you are age 70½ or older, you may not roll those over any required minimum distributions. Rollover of Exxon Xxxxxx Settlement Income: Certain income received as an Exxon Xxxxxx qualified settlement may be rolled over to a Traditional IRA xxxds into a new employer's or another eligible retirement plan. The amount contributed cannot exceed the lesser of $100,000 (reduced by the amount of any qualified settlement income contributed to an eligible retirement plan only if you make no further contributions to that IRAin prior tax years) or the amount of qualified settlement income received during the tax year. Contributions for the year can be made until the due date for filing your return, xx commingle the IRA xxxlover funds with existing IRA xxxetsnot including extensions.

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There If you are two kinds of rollover contributions required to an IRA. Xx one, take minimum distributions because you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan are age 70½ or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. Howeverolder, you may not deduct roll over any required minimum distributions. Both the distribution and the rollover contribution are reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. XXX-to-XXX Rollover: You may withdraw, tax free, all or a portion of your Traditional XXX if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Traditional XXX as a rollover. To complete a rollover contribution of a SIMPLE XXX distribution to your IRA xx your tax return. If you receive a distribution Traditional XXX, at least two years must have elapsed from the qualified date on which you first participated in any SIMPLE XXX plan of your employer or former maintained by the employer, and you must contribute the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it within 60 days from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after date you receive it. An "eligible Only one XXX distribution within any 12-month period may be rolled over in an XXX-to-XXX rollover distribution" is transaction. The 12-month waiting period begins on the date you receive an XXX distribution that you subsequently roll over, not on the date you complete the rollover transaction. If you roll over the entire amount of an XXX distribution (including any amount withheld for federal, state, or other income taxes that you did not receive), you do not have to report the distribution from a qualified plan that would as taxable income. Any amount not properly rolled over within the 60-day period will generally be taxable other than in the year distributed (1except for any amount that represents basis) a and may be, if you are under age 59½, subject to the premature distribution penalty tax. Employer Retirement Plan-to-Traditional XXX Rollover (by Traditional XXX Owner): Eligible rollover distributions from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Traditional XXX. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that is one may not be rolled over to your Traditional XXX include any required minimum distributions, hardship distributions, any part of a series of substantially equal periodic payments payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover from an employer plan to your Traditional XXX, you must generally instruct the plan administrator to send the distribution to your Traditional XXX Custodian. To complete an indirect rollover to your Traditional XXX, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution to complete an indirect rollover. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for an employee's life or over a period of 10 years or moreany amount that represents after-tax contributions) and may be, (2) a required if you are under age 59½, subject to the premature distribution after you attain age 70 1/2 and (3) certain corrective distributionspenalty tax. If you choose the entire indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the full amount. If you do not make up the withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Conduit XXX: You may use your XXX as a conduit to temporarily hold amounts you receive in an eligible rollover distribution from an employer’s retirement plan. Should you combine or add other amounts (e.g., regular contributions) to your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) planconduit XXX, you may later lose the ability to subsequently roll over these funds into another employer plan to take advantage of special tax rules available for certain qualified plan distribution amounts. Consult your tax advisor for additional information. Employer Retirement Plan-to-Traditional XXX Rollover (by Inherited Traditional XXX Owner): Please refer to the IRA xx a new section of this document entitled “Inherited XXX”. Traditional XXX-to-Employer Retirement Plan Rollover: If your employer's ’s retirement plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. Howeveraccepts rollovers from IRAs, you may later complete a direct or indirect rollover of your pre-tax assets in your Traditional XXX into your employer retirement plan. If you are required to take minimum distributions because you are age 70½ or older, you may not roll those IRA xxxds into over any required minimum distributions. Rollover of Exxon Xxxxxx Settlement Income: Certain income received as an Exxon Xxxxxx qualified settlement may be rolled over to a new employer's Traditional XXX or another eligible retirement plan. The amount contributed cannot exceed the lesser of $100,000 (reduced by the amount of any qualified settlement income contributed to an eligible retirement plan only if you make no further contributions to that IRAin prior tax years) or the amount of qualified settlement income received during the tax year. Contributions for the year can be made until the due date for filing your return, xx commingle the IRA xxxlover funds with existing IRA xxxetsnot including extensions.

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There If you are required to take minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Both the distribution and the rollover contribution are reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. IRA-to-XXX Xxxxxxxx. You may withdraw, tax free, all or a portion of your Traditional IRA if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Traditional IRA as a rollover. To complete a rollover of a SIMPLE IRA distribution to your Traditional IRA, at least two kinds of rollover contributions to years must have elapsed from the date on which you first participated in any SIMPLE IRA Plan maintained by the employer, and you must contribute the distribution within 60 days from the date you receive it. Only one IRA distribution within any 12-month period may be rolled over in an IRA-to-IRA rollover transaction. Xx oneThe 12-month waiting period begins on the date you receive an IRA distribution that you subsequently roll over, not the date you complete the rollover transaction. If you roll over the entire amount of an IRA distribution (including any amount withheld for federal, state, or other income taxes that you did not receive), you contribute amounts do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents basis) and may be, if you are under age 59½, subject to you the premature distribution penalty tax. Employer Retirement Plan-to-IRA Rollover (by IRA Owner). Eligible distributions from one IRA xx another qualifying employer retirement plans may be rolled over, directly or indirectly, to your Traditional IRA. Xxth the otherQualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that may not be rolled over to your Traditional IRA include any required minimum distributions, hardship distributions, any part of a series of substantially equal periodic payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover, you contribute must generally instruct the plan administrator to send the distribution to your Traditional IRA Custodian. To complete an indirect rollover, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution to complete an indirect rollover. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents after-tax contributions) and may be, if you are under age 59½, subject to the premature distribution penalty tax. If you choose the indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the full amount. If you do not make up the withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Conduit IRA. You may use your IRA as a conduit to temporarily hold amounts distributed you receive in an eligible rollover distribution from an employer's retirement plan. Should you combine or add other amounts (e.g., regular contributions) to your conduit IRA, you from may lose the ability to subsequently roll these funds into another employer plan to take advantage of special tax rules available for certain qualified plan distribution amounts. Consult your tax advisor for additional information. Employer Retirement Plan-to-IRA Rollover (by Inherited IRA Owner). Please refer to the section of this document entitled “Inherited IRA”. IRA-to-Employer Retirement Plan Rollover. If your employer's qualified retirement plan accepts rollovers from IRAs, you may complete a direct or 403(b) plan indirect rollover of your pre-tax assets in your Traditional IRA into your employer retirement plan. If you are required to an take minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Conversion of Traditional IRA to Xxxx XXX. Generally, you may convert all or a portion of your Traditional IRA to a Xxxx XXX provided you meet any applicable eligibility requirements as defined in the Code and Regulations. Except for amounts that represent basis, amounts converted are generally treated as taxable distributions. However, the premature distribution penalty that typically applies to taxable withdrawals taken prior to age 59½, does not apply to amounts converted from a Traditional IRA to a Xxxx XXX. Required minimum distributions may not be converted. Traditional IRA. X rollover is an allowable IRA xxxtribution which is -to-Xxxx XXX conversions are not subject to the limits on regular contributions discussed 12-month rollover restriction that typically applies to rollovers between IRAs. Rollover of Exxon Xxxxxx Settlement Income. Certain income received as an Exxon Xxxxxx qualified settlement may be rolled over to a Traditional IRA or another eligible retirement plan. The amount contributed cannot exceed the lesser of $100,000 (reduced by the amount of any qualified settlement income contributed to an eligible retirement plan in Part D aboveprior tax years) or the amount of qualified settlement income received during the tax year. HoweverContributions for the year can be made until the due date for filing your return, not including extensions. RECHARACTERIZATIONS Recharacterize a Contribution/Conversion. You may "recharacterize" a contribution/conversion made to one type of IRA (either Traditional or Xxxx XXX) and treat it as if it was made to a different type of IRA (Traditional or Xxxx XXX). Both the contribution/conversion amount along with the net income attributable to the contribution/conversion must be transferred. If there was a loss, the amount of any loss will reduce the amount you may not deduct recharacterize. The deadline for completing a rollover contribution recharacterization is your tax return due date (including any extensions) for the year for which the contribution/conversion was made to the first IRA. Recharacterization requests must be made in a form and manner acceptable to the Custodian. Report recharacterizations to the IRS by attaching a statement to your Form 1040. You may also need to file Form 8606. Reconversion. A reconversion occurs when you convert IRA xx your tax returnassets that have been previously converted and recharacterized. If you receive A reconversion must occur in a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan subsequent year to the IRAprior conversion, or if later, after 30 days has elapsed since the recharacterization. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.TRANSFERS

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There If you are two kinds of rollover contributions required to an IRA. Xx one, take minimum distributions because you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan are age 70½ or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. Howeverolder, you may not deduct a rollover contribution roll over any required minimum distributions. You must irrevocably elect to your IRA xx your treat such contributions as rollovers. IRA-to-XXX Xxxxxxxx. You may withdraw, tax return. If you receive a distribution from the qualified plan of your employer or former employerfree, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the amounts in your IRA if you reinvest those amounts within 60 days into the same or another IRA. You may only roll over one distribution from each IRA every 12 months. The 12-month waiting period begins on the date you receive the IRA distribution, not on the date you roll it over into an IRA. In addition, the amounts rolled to a subsequent IRA may not be rolled over again until 12 months has elapsed. If you complete a rollover of the entire distribution into your IRA, you do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period or any amount you keep will generally be taxable in the year distributed (except for any part that is a return of nondeductible contributions) and may be subject to the 10% premature distribution penalty tax if you are under age 59 ½ (and do not qualify for an exception). SIMPLE IRA to Traditional IRA Rollover. To complete a rollover of your SIMPLE IRA to your Traditional IRA, at least two years must have elapsed from your initial SIMPLE IRA contribution. The two-year waiting period begins on the first day you participated in your employer's SIMPLE IRA plan. If the two-year period has elapsed, you may withdraw, tax free, all or part of the amounts in your SIMPLE IRA if you reinvest those amounts within 60 days into your IRA. You may only roll over one distribution from each SIMPLE IRA every 12 months. The 12-month waiting period begins on the date you receive the SIMPLE IRA distribution, not on the date you roll it over into an IRA. In addition, the amounts rolled to a Traditional IRA may not be rolled over again until 12 months has elapsed. If you complete a rollover of the entire distribution into your IRA, you do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period or any amount you keep will generally be taxable in the year distributed. Further, if you are under age 59½ and do not qualify for an exception, such amounts are subject to the 10% premature distribution penalty tax (or a 25% penalty tax if the distribution is within two years of your initial SIMPLE IRA contribution). Employer Retirement Plan to IRA Rollover (by IRA Owner). Eligible distributions from qualifying employer retirement plan(s) may be rolled over, directly or indirectly, to your IRA. Xxe portion you contribute to your IRA xxxl Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that may not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll rolled over the distribution directly from the plan to the IRA. Xx you electinclude any required minimum distributions, insteadhardship distributions, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one part of a series of substantially equal periodic payments payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover, you instruct the plan administrator to send the distribution to your Custodian. To complete an indirect rollover, you request the plan administrator to distribute your plan balance to you. You then have 60 days from the date you receive the distribution to complete the rollover. Note, however, the IRS generally requires the plan administrator to withhold 20% for an employee's life or federal income tax withholding purposes if you choose the indirect rollover method. You may, however, make up the 20% withholding out of pocket and roll over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributionsthe full amount. If you do not make up the entire withheld amount in out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Conduit IRA. You may use your IRA xxx been contributed as a holding account (conduit) for amounts you receive in a tax-free an eligible rollover distribution from your one employer's or former employer's qualified retirement plan or 403(b) plan, that you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's retirement plan. The conduit IRA must be made up of only those amounts and earnings on those amounts. Should you combine or add other amounts, e.g., regular contributions, to your conduit IRA, you may not be able to take advantage of special tax rules available for certain qualified plan only amounts. Consult your tax advisor for additional information. Employer Retirement Plan to IRA Rollover (by Inherited IRA Owner). Please refer to the section entitled “Inherited IRA” of this document. XXX Xxxxxxxx to Employer's Retirement Plan. If your employer's retirement plan accepts rollovers from IRAs, you may complete a direct or indirect rollover of your pre-tax assets in your Traditional IRA. Conversion of IRA to Xxxx XXX. Generally, you may convert all or part of your IRA to a Xxxx XXX provided you meet current eligibility requirements as defined in the Code and Regulations. Amounts converted are treated as taxable distributions (unless any amounts represent nondeductible contributions). However, if you make no further contributions are under age 59½ and completing an eligible conversion, the premature distribution penalty tax does not apply. Required minimum distributions may not be converted. RECHARACTERIZATIONS Recharacterize a Contribution/Conversion. You may "recharacterize" a contribution/conversion made to one type of IRA (either Traditional or Xxxx XXX) and treat it as if it was made to a different type of IRA (Traditional or Xxxx XXX). Both the contribution/conversion amount along with the net income attributable to the contribution/conversion must be transferred. If there was a loss, the amount of any loss will reduce the amount you recharacterize. The deadline for completing a recharacterization is your tax return due date (including any extensions) for the year for which the contribution/conversion was made to the first IRA. Recharacterization requests must be made in a form and manner acceptable to the Custodian. Report recharacterizations to the IRS by attaching a statement to your Form 1040. You may also need to file Form 8606. Reconversion. A reconversion occurs when you convert IRA assets that IRAhave been previously converted and recharacterized. A reconversion must occur in a subsequent year to the prior conversion, xx commingle or if later, after 30 days has elapsed since the IRA xxxlover funds with existing IRA xxxets.recharacterization. TRANSFERS

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There If you are two kinds of rollover contributions required to an IRA. Xx one, take minimum distributions because you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan are age 70½ or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. Howeverolder, you may not deduct a rollover contribution roll over any required minimum distributions. You must irrevocably elect to your IRA xx your treat such contributions as rollovers. XXX-to-XXX Rollover. You may withdraw, tax return. If you receive a distribution from the qualified plan of your employer or former employerfree, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the amounts in your XXX if you reinvest those amounts within 60 days into the same or another XXX. You may only roll over one distribution from each XXX every 12 months. The 12-month waiting period begins on the date you receive the XXX distribution, not on the date you roll it over into an XXX. In addition, the amounts rolled to a subsequent XXX may not be rolled over again until 12 months has elapsed. If you complete a rollover of the entire distribution into your XXX, you do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period or any amount you keep will generally be taxable in the year distributed (except for any part that is a return of nondeductible contributions) and may be subject to the 10% premature distribution penalty tax if you are under age 59 ½ (and do not qualify for an exception). SIMPLE XXX to Traditional XXX Rollover. To complete a rollover of your SIMPLE XXX to your IRATraditional XXX, at least two years must have elapsed from your initial SIMPLE XXX contribution. Xxe portion The two-year waiting period begins on the first day you contribute participated in your employer's SIMPLE XXX plan. If the two-year period has elapsed, you may withdraw, tax free, all or part of the amounts in your SIMPLE XXX if you reinvest those amounts within 60 days into your XXX. You may only roll over one distribution from each SIMPLE XXX every 12 months. The 12-month waiting period begins on the date you receive the SIMPLE XXX distribution, not on the date you roll it over into an XXX. In addition, the amounts rolled to a Traditional XXX may not be rolled over again until 12 months has elapsed. If you complete a rollover of the entire distribution into your XXX, you do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period or any amount you keep will generally be taxable in the year distributed. Further, if you are under age 59½ and do not qualify for an exception, such amounts are subject to the 10% premature distribution penalty tax (or a 25% penalty tax if the distribution is within two years of your initial SIMPLE XXX contribution). Employer Retirement Plan to XXX Rollover (by XXX Owner). Eligible distributions from qualifying employer retirement plan(s) may be rolled over, directly or indirectly, to your IRA xxxl XXX. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that may not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll rolled over the distribution directly from the plan to the IRA. Xx you electinclude any required minimum distributions, insteadhardship distributions, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one part of a series of substantially equal periodic payments payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover, you instruct the plan administrator to send the distribution to your Custodian. To complete an indirect rollover, you request the plan administrator to distribute your plan balance to you. You then have 60 days from the date you receive the distribution to complete the rollover. Note, however, the IRS generally requires the plan administrator to withhold 20% for an employee's life or federal income tax withholding purposes if you choose the indirect rollover method. You may, however, make up the 20% withholding out of pocket and roll over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributionsthe full amount. If you do not make up the entire withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Conduit XXX. You may use your XXX as a holding account (conduit) for amounts you receive in your IRA xxx been contributed in a tax-free an eligible rollover distribution from your one employer's or former employer's qualified retirement plan or 403(b) plan, that you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's retirement plan. The conduit XXX must be made up of only those amounts and earnings on those amounts. Should you combine or add other amounts, e.g., regular contributions, to your conduit XXX, you may not be able to take advantage of special tax rules available for certain qualified plan only amounts. Consult your tax advisor for additional information. Employer Retirement Plan to XXX Rollover (by Inherited XXX Owner). Please refer to the section entitled “Inherited XXX” of this document. XXX Rollover to Employer's Retirement Plan. If your employer's retirement plan accepts rollovers from IRAs, you may complete a direct or indirect rollover of your pre-tax assets in your Traditional XXX. Conversion of XXX to Xxxx XXX. Generally, you may convert all or part of your XXX to a Xxxx XXX provided you meet current eligibility requirements as defined in the Code and Regulations. Amounts converted are treated as taxable distributions (unless any amounts represent nondeductible contributions). However, if you make no further contributions are under age 59½ and completing an eligible conversion, the premature distribution penalty tax does not apply. Required minimum distributions may not be converted. RECHARACTERIZATIONS Recharacterize a Contribution/Conversion. You may "recharacterize" a contribution/conversion made to one type of XXX (either Traditional or Xxxx XXX) and treat it as if it was made to a different type of XXX (Traditional or Xxxx XXX). Both the contribution/conversion amount along with the net income attributable to the contribution/conversion must be transferred. If there was a loss, the amount of any loss will reduce the amount you recharacterize. The deadline for completing a recharacterization is your tax return due date (including any extensions) for the year for which the contribution/conversion was made to the first XXX. Recharacterization requests must be made in a form and manner acceptable to the Custodian. Report recharacterizations to the IRS by attaching a statement to your Form 1040. You may also need to file Form 8606. Reconversion. A reconversion occurs when you convert XXX assets that IRAhave been previously converted and recharacterized. A reconversion must occur in a subsequent year to the prior conversion, xx commingle or if later, after 30 days has elapsed since the IRA xxxlover funds with existing IRA xxxets.recharacterization. TRANSFERS

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There Both the distribution and the rollover contribution are two kinds reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. Xxxx XXX-to-Xxxx XXX Rollover. You may withdraw, tax free, all or a portion of rollover contributions to an IRA. Xx one, your Xxxx XXX if you contribute amounts distributed to you the amount withdrawn within 60 days from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If date you receive the distribution into the same or another Xxxx XXX as a rollover. Only one XXX distribution within any 12-month period may be rolled over in an XXX-to-XXX rollover transaction. The 12-month waiting period begins on the date you receive an XXX distribution that you subsequently roll over, not on the date you complete the rollover transaction. Amounts withdrawn (including any amounts withheld for federal, state, or other income taxes that you did not receive) that are not rolled over will be treated as a distribution from the qualified plan Xxxx XXX and may be subject to tax and/or early distribution penalty. Employer Retirement Plan-to-Xxxx XXX Rollover (by Xxxx XXX Owner). Eligible rollover distributions consisting of Xxxx 401(k), Xxxx 403(b), or Xxxx 457(b) assets may be rolled over, directly or indirectly, to your employer Xxxx XXX. You are solely responsible for tracking the taxable and nontaxable amounts of the assets rolled over. If you roll over a nonqualified distribution from a Xxxx 401(k), Xxxx 403(b) or former employerXxxx 457(b) to a Xxxx XXX, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part portion of the distribution that constitutes the contribution basis is treated as basis in your Xxxx XXX. If you roll over a qualified distribution from a Xxxx 401(k), Xxxx 403(b) or Xxxx 457(b), the entire amount of the rollover contribution is considered basis in the Xxxx XXX. Required minimum distributions may not be rolled over. Eligible rollover distributions consisting of pre-tax and after-tax assets from qualifying employer retirement plans may be rolled over, directly or indirectly, to your IRAXxxx XXX, if you meet applicable eligibility requirements defined in the Internal Revenue Code or regulations. Xxe portion you contribute Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements, and 403(a) arrangements. Amounts rolled over from an employer plan to a Xxxx XXX (other than amounts distributed from a designated Xxxx account) are generally treated as taxable distributions from your employer retirement plan (except for amounts representing after-tax employee contributions). However, the premature distribution penalty (that typically applies to taxable withdrawals taken prior to age 59½) does not apply to amounts rolled over from your employer‘s retirement plan to your IRA xxxl Xxxx XXX. Required minimum distributions may not be taxable rolled over. To complete a direct rollover, from an employer plan to your Xxxx XXX, you until must generally instruct the plan administrator to send the distribution directly to your Xxxx XXX Custodian. To complete an indirect rollover to your Xxxx XXX, you withdraw it must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the IRAdate you receive an eligible rollover distribution to complete an indirect rollover. Xxur employer or former employer will give If you choose the opportunity indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the distribution directly from full amount. If you do not make up the plan withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Employer Retirement Plan-to-Xxxx XXX Rollover (by Inherited Xxxx XXX Owner). Please refer to the IRAsection of this document entitled “Inherited Xxxx XXX”. Xx you elect, instead, Xxxx XXX-to-Employer Plan Rollovers Not Permitted. Distributions from your Xxxx XXX are not eligible for rollover to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed designated Xxxx account in a tax-free rollover from your employer's or former employer's qualified plan or Xxxx 401(k) plan, Xxxx 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxetsor Xxxx 457(b) plan.

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There Both the distribution and the rollover contribution are two kinds reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. Xxxx XXX-to-Xxxx XXX Rollover. You may withdraw, tax free, all or a portion of rollover contributions to your Xxxx XXX if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Xxxx XXX as a rollover. Only one IRA distribution within any 12-month period may be rolled over in an IRA-to-IRA rollover transaction. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth The 12-month waiting period begins on the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If date you receive an IRA distribution that you subsequently roll over, not on the date you complete the rollover transaction. Amounts withdrawn (including any amounts withheld for federal, state, or other income taxes that you did not receive) that are not rolled over will be treated as a distribution from the qualified plan Xxxx XXX and may be subject to tax and/or early distribution penalty. Employer Retirement Plan-to-Xxxx XXX Rollover (by Xxxx XXX Owner). Eligible rollover distributions consisting of Xxxx 401(k), Xxxx 403(b), or Xxxx 457(b) assets may be rolled over, directly or indirectly, to your employer Xxxx XXX. You are solely responsible for tracking the taxable and nontaxable amounts of the assets rolled over. If you roll over a nonqualified distribution from a Xxxx 401(k), Xxxx 403(b) or former employerXxxx 457(b) to a Xxxx XXX, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part portion of the distribution that constitutes the contribution basis is treated as basis in your Xxxx XXX. If you roll over a qualified distribution from a Xxxx 401(k), Xxxx 403(b) or Xxxx 457(b), the entire amount of the rollover contribution is considered basis in the Xxxx XXX. Required minimum distributions may not be rolled over. Eligible rollover distributions consisting of pre-tax and after-tax assets from qualifying employer retirement plans may be rolled over, directly or indirectly, to your IRAXxxx XXX, if you meet applicable eligibility requirements defined in the Internal Revenue Code or regulations. Xxe portion you contribute Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements, and 403(a) arrangements. Amounts rolled over from an employer plan to a Xxxx XXX (other than amounts distributed from a designated Xxxx account) are generally treated as taxable distributions from your employer retirement plan (except for amounts representing after-tax employee contributions). However, the premature distribution penalty (that typically applies to taxable withdrawals taken prior to age 59½) does not apply to amounts rolled over from your employer‘s retirement plan to your IRA xxxl Xxxx XXX. Required minimum distributions may not be taxable rolled over. To complete a direct rollover, from an employer plan to your Xxxx XXX, you until must generally instruct the plan administrator to send the distribution directly to your Xxxx XXX Custodian. To complete an indirect rollover to your Xxxx XXX, you withdraw it must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the IRAdate you receive an eligible rollover distribution to complete an indirect rollover. Xxur employer or former employer will give If you choose the opportunity indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the distribution directly from full amount. If you do not make up the plan withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Employer Retirement Plan-to-Xxxx XXX Rollover (by Inherited Xxxx XXX Owner). Please refer to the IRAsection of this document entitled “Inherited Xxxx XXX”. Xx you elect, instead, Xxxx XXX-to-Employer Plan Rollovers Not Permitted. Distributions from your Xxxx XXX are not eligible for rollover to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed designated Xxxx account in a tax-free rollover from your employer's or former employer's qualified plan or Xxxx 401(k) plan, Xxxx 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxetsor Xxxx 457(b) plan.

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There Both the distribution and the rollover contribution are two kinds reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. Xxxx XXX-to-Xxxx XXX Rollover. You may withdraw, tax free, all or a portion of your Xxxx XXX if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Xxxx XXX as a rollover. Only one XXX distribution within any 12-month period may be rolled over in an XXX-to-XXX rollover contributions transaction. The 12-month waiting period begins on the date you receive an XXX distribution that you subsequently roll over, not on the date you complete the rollover transaction. Amounts withdrawn (including any amounts withheld for federal, state, or other income taxes that you did not receive) that are not rolled over will be treated as a distribution from the Xxxx XXX and may be subject to tax and/or early distribution penalty. Employer Retirement Plan-to-Xxxx XXX Rollover (by Xxxx XXX Owner). Eligible rollover distributions consisting of Xxxx 401(k), Xxxx 403(b), or Xxxx 457(b) assets may be rolled over, directly or indirectly, to your Xxxx XXX. You are solely responsible for tracking the taxable and nontaxable amounts of the assets rolled over. If you roll over a nonqualified distribution from a Xxxx 401(k), Xxxx 403(b) or Xxxx 457(b) to a Xxxx XXX, the portion of the distribution that constitutes the contribution basis is treated as basis in your Xxxx XXX. If you roll over a qualified distribution from a Xxxx 401(k), Xxxx 403(b) or Xxxx 457(b), the entire amount of the rollover contribution is considered basis in the Xxxx XXX. Eligible rollover distributions consisting of pre-tax and after-tax assets from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Xxxx XXX, if you meet applicable eligibility requirements. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements, and 403(a) arrangements. Amounts rolled over from an IRAemployer plan to a Xxxx XXX (other than amounts distributed from a designated Xxxx account) are generally treated as taxable distributions from your employer retirement plan (except for amounts representing after-tax employee contributions). Xx oneHowever, the premature distribution penalty (that typically applies to taxable withdrawals taken prior to age 59½) does not apply to amounts rolled over from your employer‘s retirement plan to your Xxxx XXX. Required minimum distributions may not be rolled over. To complete a direct rollover, from an employer plan to your Xxxx XXX, you contribute amounts distributed must generally instruct the plan administrator to you from one IRA xx another IRAsend the distribution directly to your Xxxx XXX Custodian. Xxth the otherTo complete an indirect rollover to your Xxxx XXX, you contribute amounts distributed must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution to complete an indirect rollover. If you choose the indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the full amount. If you do not make up the withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Employer Retirement Plan-to-Xxxx XXX Rollover (by Inherited Xxxx XXX Owner). Please refer to the section of this document entitled “Inherited Xxxx XXX”. Xxxx XXX-to-Employer Plan Rollovers Not Permitted. Distributions from your employer's qualified plan or Xxxx XXX are not eligible for rollover to a designated Xxxx account in a Xxxx 401(k) plan, Xxxx 403(b) plan plan, or Xxxx 457(b) plan. Conversions to an IRAXxxx IRAs. X rollover is an allowable IRA xxxtribution Generally, you may convert all or a portion of your Traditional XXX (or SIMPLE XXX) to a Xxxx XXX provided you meet any applicable eligibility requirements as defined in the Code and Regulations. To complete a conversion of a SIMPLE XXX distribution to a Xxxx XXX, at least two years must have elapsed from the date on which is you first participated in any SIMPLE XXX Plan maintained by the employer. Except for amounts that represent basis, amounts converted are generally treated as taxable distributions. However, the premature distribution penalty that typically applies to taxable withdrawals taken prior to age 59½, does not apply to amounts converted from a Traditional XXX (or SIMPLE XXX) to a Xxxx XXX. Required minimum distributions may not be converted. Conversions are not subject to the limits on regular contributions discussed 12 month rollover restriction that typically applies to rollovers between IRAs. Rollover of Exxon Xxxxxx Settlement Income. Certain income received as an Exxon Xxxxxx qualified settlement may be rolled over to a Xxxx XXX or another eligible retirement plan. The amount contributed cannot exceed the lesser of $100,000 (reduced by the amount of any qualified settlement income contributed to an eligible retirement plan in Part D aboveprior tax years) or the amount of qualified settlement income received during the tax year. HoweverContributions for the year can be made until the due date for filing your return, you may not deduct including extensions. Qualified settlement income that is contributed to a rollover contribution to Xxxx XXX is included in your IRA xx your tax return. If you receive a distribution from taxable income for the year the qualified plan settlement income was received, and treated as part of your employer or former employer, cost basis (investment in the distribution must be an "eligible rollover distribution" contract) in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution Xxxx XXX that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributionsnot taxable when distributed. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.RECHARACTERIZATIONS

Rollover Contributions. A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx In one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth With the other, you contribute amounts distributed distribuxxx to you from your xxur employer's qualified plan or 403(b) plan to an IRA. X A rollover is an allowable IRA xxxtribution contribution which is not subject subjexx to the limits on regular contributions contxxxutions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx on your tax return. If you receive a distribution from the qualified xxxlified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe The portion you contribute to your IRA xxxl will not be taxable to you xxx until you withdraw it from the IRA. Xxur Xxxr employer or former employer will give you the opportunity to xx roll over the distribution directly from the plan to the IRA. Xx If you elect, instead, to receive the distribution, you must deposit dxxxsit it into the IRA xxxhin within 60 days after you receive it. An "eligible rollover distributionxxxtribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx has been contributed in a tax-free rollover from your employer's or employer'x xr former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx to a new employer's plan if such plan permits rollovers. Your IRA xxxld IXX would then serve as a conduit for those assets. However, you may later max xater roll those IRA xxxds funds into a new employer's plan only if you make no further contributions coxxxibutions to that IRA, xx or commingle the IRA xxxlover rollover funds with existing IRA xxxetsassets.

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There Both the distribution and the rollover contribution are two kinds reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. Xxxx XXX-to-Xxxx XXX Rollover. You may withdraw, tax free, all or a portion of rollover contributions to your Xxxx XXX if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Xxxx XXX as a rollover. Only one IRA distribution within any 12-month period may be rolled over in an IRA-to-IRA rollover transaction. Xx oneThe 12-month waiting period begins on the date you receive an IRA distribution that you subsequently roll over, not on the date you complete the rollover transaction. Amounts withdrawn (including any amounts withheld for federal, state, or other income taxes that you did not receive) that are not rolled over will be treated as a distribution from the Xxxx XXX and may be subject to tax and/or early distribution penalty. Employer Retirement Plan-to-Xxxx XXX Rollover (by Xxxx XXX Owner). Eligible rollover distributions consisting of Xxxx 401(k), Xxxx 403(b), or Xxxx 457(b) assets may be rolled over, directly or indirectly, to your Xxxx XXX. You are solely responsible for tracking the taxable and nontaxable amounts of the assets rolled over. If you roll over a nonqualified distribution from a Xxxx 401(k), Xxxx 403(b) or Xxxx 457(b) to a Xxxx XXX, the portion of the distribution that constitutes the contribution basis is treated as basis in your Xxxx XXX. If you roll over a qualified distribution from a Xxxx 401(k), Xxxx 403(b) or Xxxx 457(b), the entire amount of the rollover contribution is considered basis in the Xxxx XXX. Eligible rollover distributions consisting of pre-tax and after-tax assets from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Xxxx XXX, if you meet applicable eligibility requirements. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements, and 403(a) arrangements. Amounts rolled over from an employer plan to a Xxxx XXX (other than amounts distributed from a designated Xxxx account) are generally treated as taxable distributions from your employer retirement plan (except for amounts representing after-tax employee contributions). However, the premature distribution penalty (that typically applies to taxable withdrawals taken prior to age 59½) does not apply to amounts rolled over from your employer‘s retirement plan to your Xxxx XXX. Required minimum distributions may not be rolled over. To complete a direct rollover, from an employer plan to your Xxxx XXX, you contribute amounts distributed must generally instruct the plan administrator to you from one IRA xx another IRAsend the distribution directly to your Xxxx XXX Custodian. Xxth the otherTo complete an indirect rollover to your Xxxx XXX, you contribute amounts distributed must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution to complete an indirect rollover. If you choose the indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the full amount. If you do not make up the withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Employer Retirement Plan-to-Xxxx XXX Rollover (by Inherited Xxxx XXX Owner). Please refer to the section of this document entitled “Inherited Xxxx XXX”. Xxxx XXX-to-Employer Plan Rollovers Not Permitted. Distributions from your employer's qualified plan or Xxxx XXX are not eligible for rollover to a designated Xxxx account in a Xxxx 401(k) plan, Xxxx 403(b) plan plan, or Xxxx 457(b) plan. Conversions to an Xxxx IRAs. Generally, you may convert all or a portion of your Traditional IRA (or SIMPLE IRA) to a Xxxx XXX provided you meet any applicable eligibility requirements as defined in the Code and Regulations. X rollover is an allowable To complete a conversion of a SIMPLE IRA xxxtribution distribution to a Xxxx XXX, at least two years must have elapsed from the date on which is you first participated in any SIMPLE IRA Plan maintained by the employer. Except for amounts that represent basis, amounts converted are generally treated as taxable distributions. However, the premature distribution penalty that typically applies to taxable withdrawals taken prior to age 59½, does not apply to amounts converted from a Traditional IRA (or SIMPLE IRA) to a Xxxx XXX. Required minimum distributions may not be converted. Conversions are not subject to the limits on regular contributions discussed 12 month rollover restriction that typically applies to rollovers between IRAs. Rollover of Exxon Xxxxxx Settlement Income. Certain income received as an Exxon Xxxxxx qualified settlement may be rolled over to a Xxxx XXX or another eligible retirement plan. The amount contributed cannot exceed the lesser of $100,000 (reduced by the amount of any qualified settlement income contributed to an eligible retirement plan in Part D aboveprior tax years) or the amount of qualified settlement income received during the tax year. HoweverContributions for the year can be made until the due date for filing your return, not including extensions. Qualified settlement income that is contributed to a Xxxx XXX is included in your taxable income for the year the qualified settlement income was received, and treated as part of your cost basis (investment in the contract) in the Xxxx XXX that is not taxable when distributed. Rollover of Military Death Gratuity or SGLI (Servicemembers’ Group Life Insurance) Program. Eligible death payments including military death gratuities and SGLI payments may be rolled over, tax-free into a Xxxx XXX. The amount you may not deduct a rollover contribution can roll over to your IRA xx Xxxx XXX cannot exceed the total amount that you received reduced by any part of that amount that was contributed to a Xxxxxxxxx ESA or another Xxxx XXX. Any military death gratuity or SGLI payment contributed to a Xxxx XXX is disregarded for purposes of the 12-month waiting period between rollovers. The rollover must be completed within one year of the date on which the payment is received. The amount contributed to your tax return. If you receive a distribution from the qualified plan Xxxx XXX is treated as part of your employer or former employer, cost basis (investment in the distribution must be an "eligible rollover distribution" contract) in order for you to be able to the Xxxx XXX that is not taxable when distributed. You can contribute (roll over) all or part of the distribution over amount received to your Xxxx XXX. RECHARACTERIZATIONS Recharacterizing a Contribution/Conversion. You may “recharacterize” a contribution/conversion made to one type of IRA (either Traditional or Xxxx XXX) and treat it as if it was made to a different type of IRA (Traditional or Xxxx XXX). Both the contribution/conversion amount and the net income attributable to the contribution/conversion must be transferred. If there was a loss, the amount of any loss will reduce the amount you recharacterize. The deadline for completing a recharacterization is your tax return due date (including any extensions) for the year for which the contribution/conversion was made to the first IRA. Xxe portion you contribute Recharacterization requests must be made in a form and manner acceptable to the Custodian. Report recharacterizations to the IRS by attaching a statement to your IRA xxxl not be taxable Form 1040. You may also need to you until you withdraw it from the IRAfile Form 8606 with your income taxes. Xxur employer or former employer will give you the opportunity For assistance with recharacterizations, refer to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in IRS Publication 590 and/or your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxetstax advisor.

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There If you are two kinds of rollover contributions required to an IRA. Xx one, take minimum distributions because you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan are age 72 or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. Howeverolder, you may not deduct a roll over any required minimum distributions. Both the distribution and the rollover contribution are reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. IRA-to-IRA Indirect Rollover: You may withdraw, tax free, all or a portion of your Traditional IRA if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Traditional IRA as an indirect rollover. To complete an indirect rollover of a SIMPLE IRA distribution to your Traditional IRA, at least two years must have elapsed from the date on which you first participated in any SIMPLE IRA xx your tax returnplan maintained by the employer, and you must contribute the distribution within 60 days from the date you receive it. Only one IRA distribution within any 12- month period may be rolled over in an IRA-to-IRA 60 day indirect rollover transaction. The 12-month waiting period begins on the date you receive an IRA distribution that you subsequently roll over, not on the date you complete the indirect rollover transaction. If you receive roll over the entire amount of an IRA distribution (including any amount withheld for federal, state, or other income taxes that you did not receive), you do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents basis) and may be, if you are under age 59½, subject to the premature distribution penalty tax. Employer Retirement Plan-to-Traditional IRA Rollover (by Traditional IRA Owner): Eligible rollover distributions from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Traditional IRA. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that may not be rolled over to your Traditional IRA include any required minimum distributions, hardship distributions, any part of a series of substantially equal periodic payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover from an employer plan to your Traditional IRA, you must generally instruct the plan administrator to send the distribution to your Traditional IRA Custodian. To complete an indirect rollover to your Traditional IRA, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the qualified plan of your employer or former employer, the distribution must be date you receive an "eligible rollover distribution" distribution to complete an indirect rollover. Any amount not properly rolled over within the 60-day period will generally be taxable in order the year distributed (except for any amount that represents after-tax contributions) and may be, if you are under age 59½, subject to the premature distribution penalty tax. However, if you inadvertently fail to complete the rollover of a distribution within 60 days, you may be able to roll all or part obtain a waiver of the distribution over 60-day time limit through a self-certification procedure if you meet certain requirements. Additionally, for certain qualified plan loan offsets (which is generally the amount an employer retirement plan account balance is reduced, or offset, to repay a loan from such plan, when the employer plan terminates, or because the participant severed from employment), you may have until the due date (including extensions) for your tax return for the tax year in which the offset occurs to complete the rollover to your IRA. Xxe portion If your plan loan offset is not “qualified,” then you contribute to your IRA xxxl not be taxable to you until you withdraw it have 60 days from the IRAdate the offset occurs to complete your rollover. Xxur employer or former employer will give If you choose the opportunity indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the distribution directly from full amount. If you do not make up the plan to withheld amount out of pocket, the IRA. Xx you elect, instead, to receive the 20% withheld (and not rolled over) will be treated as a distribution, you must deposit it into the subject to applicable taxes and penalties. Conduit IRA: You may use your IRA xxxhin 60 days after as a conduit to temporarily hold amounts you receive it. An "in an eligible rollover distribution" is any distribution from a qualified plan that would be taxable an employer’s retirement plan. Should you combine or add other than amounts (1e.g., regular contributions) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in to your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) planconduit IRA, you may later lose the ability to subsequently roll over these funds into another employer plan to take advantage of special tax rules available for certain qualified plan distribution amounts. Consult your tax advisor for additional information. At this time you are limited to having only one active Traditional IRA and one active Xxxx XXX on the Robinhood platform. Employer Retirement Plan-to-Traditional IRA xx a new Rollover (by Inherited Traditional IRA Owner): Please refer to the section of this document entitled “Inherited IRA”. Traditional IRA-to-Employer Retirement Plan Rollover: If your employer's ’s retirement plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. Howeveraccepts rollovers from IRAs, you may later complete a direct or indirect rollover of your pre- tax assets in your Traditional IRA into your employer retirement plan. If you are required to take RMDs because you are age 72 or older, you may not roll those IRA xxxds into over any RMDs. Direct Rollover requests to an employer’s retirement plan must be made in a new employer's plan only if you make no further contributions form and manner acceptable to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxetsCustodian.

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There If you are two kinds of rollover contributions required to an IRA. Xx one, take minimum distributions because you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan are age 72 or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. Howeverolder, you may not deduct roll over any required minimum distributions. Both the distribution and the rollover contribution are reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. IRA-to-IRA Rollover: You may withdraw, tax free, all or a portion of your Traditional IRA if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Traditional IRA as a rollover. To complete a rollover contribution of a SIMPLE IRA distribution to your Traditional IRA, at least two years must have elapsed from the date on which you first participated in any SIMPLE IRA xx your tax returnplan maintained by the employer, and you must contribute the distribution within 60 days from the date you receive it. Only one IRA distribution within any 12-month period may be rolled over in an IRA-to-IRA 60 day rollover transaction. The 12-month waiting period begins on the date you receive an IRA distribution that you subsequently roll over, not on the date you complete the rollover transaction. If you receive roll over the entire amount of an IRA distribution (including any amount withheld for federal, state, or other income taxes that you did not receive), you do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents basis) and may be, if you are under age 5e½, subject to the premature distribution penalty tax. Employer Retirement Plan-to-Traditional IRA Rollover (by Traditional IRA Owner): Eligible rollover distributions from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Traditional IRA. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that may not be rolled over to your Traditional IRA include any required minimum distributions, hardship distributions, any part of a series of substantially equal periodic payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover from an employer plan to your Traditional IRA, you must generally instruct the plan administrator to send the distribution to your Traditional IRA Custodian. To complete an indirect rollover to your Traditional IRA, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the qualified plan of your employer or former employer, the distribution must be date you receive an "eligible rollover distribution" distribution to complete an indirect rollover. Any amount not properly rolled over within the 60-day period will generally be taxable in order the year distributed (except for any amount that represents after-tax contributions) and may be, if you are under age 5e½, subject to the premature distribution penalty tax. However, if you inadvertently fail to complete the rollover of a distribution within 60 days, you may be able to roll all or part obtain a waiver of the distribution over 60-day time limit through a self-certification procedure if you meet certain requirements. Additionally, for certain qualified plan loan offsets (which is generally the amount an employer retirement plan account balance is reduced, or offset, to repay a loan from such plan, when the employer plan terminates, or because the participant severed from employment), you may have until the due date (including extensions) for your tax return for the tax year in which the offset occurs to complete the rollover to your IRA. Xxe portion If your plan loan offset is not “qualified,” then you contribute to your IRA xxxl not be taxable to you until you withdraw it have 60 days from the IRAdate the offset occurs to complete your rollover. Xxur employer or former employer will give If you choose the opportunity indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the distribution directly from full amount. If you do not make up the plan to withheld amount out of pocket, the IRA. Xx you elect, instead, to receive the 20% withheld (and not rolled over) will be treated as a distribution, you must deposit it into the subject to applicable taxes and penalties. Conduit IRA: You may use your IRA xxxhin 60 days after as a conduit to temporarily hold amounts you receive it. An "in an eligible rollover distribution" is any distribution from a qualified plan that would be taxable an employer’s retirement plan. Should you combine or add other than amounts (1e.g., regular contributions) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in to your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) planconduit IRA, you may later lose the ability to subsequently roll over these funds into another employer plan to take advantage of special tax rules available for certain qualified plan distribution amounts. Consult your tax advisor for additional information. Employer Retirement Plan-to-Traditional IRA Rollover (by Inherited Traditional IRA Owner): Please refer to the IRA xx a new section of this document entitled “Inherited IRA”. Traditional IRA-to-Employer Retirement Plan Rollover: If your employer's ’s retirement plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. Howeveraccepts rollovers from IRAs, you may later complete a direct or indirect rollover of your pre-tax assets in your Traditional IRA into your employer retirement plan. If you are required to take minimum distributions because you are age 72 or older, you may not roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxetsover any required minimum distributions.

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There Both the distribution and the rollover contribution are two kinds reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. Xxxx XXX-to-Xxxx XXX Indirect Rollover: You may withdraw, tax free, all or a portion of rollover contributions to your Xxxx XXX if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Xxxx XXX as an indirect rollover. Only one IRA distribution within any 12-month period may be rolled over in an IRA-to-IRA 60 day indirect rollover transaction. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth The 12-month waiting period begins on the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If date you receive an IRA distribution that you subsequently roll over, not on the date you complete the indirect rollover transaction. Amounts withdrawn (including any amount withheld for federal, state, or other income taxes that you did not receive) that are not rolled over will be treated as a distribution from the Xxxx XXX and may be subject to tax and/or early distribution penalty. Employer Retirement Plan-to-Xxxx XXX Rollover (by Xxxx XXX Owner): Eligible rollover distributions consisting of Xxxx 401(k), Xxxx 403(b), or Xxxx 457(b) assets may be rolled over, directly or indirectly, to your Xxxx XXX. You are solely responsible for tracking the taxable and nontaxable amounts of the assets rolled over. If you roll over a nonqualified distribution from a Xxxx 401(k), Xxxx 403(b) or Xxxx 457(b) to a Xxxx XXX, the portion of the distribution that constitutes the contribution basis is treated as basis in your Xxxx XXX. If you roll over a qualified distribution from a Xxxx 401(k), Xxxx 403(b) or Xxxx 457(b), the entire amount of the rollover contribution is considered basis in the Xxxx XXX Eligible rollover distributions consisting of pre-tax and after-tax assets from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Xxxx XXX, if you meet applicable eligibility requirements defined in the Code or regulations. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements, and 403(a) arrangements. Amounts rolled over from an employer plan of to a Xxxx XXX (other than amounts distributed from a designated Xxxx account) are generally treated as taxable distributions from your employer or former employerretirement plan (except for amounts representing after- tax employee contributions). However, the premature distribution penalty (that typically applies to taxable withdrawals taken prior to age 59½) does not apply to amounts rolled over from your employer‘s retirement plan to your Xxxx XXX. Required minimum distributions may not be rolled over. To complete a direct rollover, from an employer plan to your Xxxx XXX, you must be generally instruct the plan administrator to send the distribution directly to your Xxxx XXX Custodian. To complete an "indirect rollover to your Xxxx XXX, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution" in order for distribution to complete an indirect rollover. However, if you inadvertently fail to complete the rollover of a distribution within 60 days, you may be able to roll all or part obtain a waiver of the distribution over 60-day time limit through a self certification procedure if you meet certain requirements. Additionally, for certain qualified plan loan offsets (which is generally the amount an employer retirement plan account balance is reduced, or offset, to repay a loan from such plan, when the employer plan terminates, or because the participant severed from employment), you may have until the due date (including extensions) for your tax return for the tax year in which the offset occurs to complete the rollover to your IRAXxxx XXX. Xxe portion If your plan loan offset is not “qualified,” then you contribute to your IRA xxxl not be taxable to you until you withdraw it have 60 days from the IRAdate the offset occurs to complete your rollover. Xxur employer or former employer will give If you choose the opportunity indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the distribution directly from full amount. If you do not make up the plan withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Employer Retirement Plan-to-Xxxx XXX Rollover (by Inherited Xxxx XXX Owner). Please refer to the IRAsection of this document entitled “Inherited Xxxx XXX”. Xx you elect, instead, Xxxx XXX-to-Employer Plan Rollovers Not Permitted. Distributions from your Xxxx XXX are not eligible for rollover to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed designated Xxxx account in a tax-free rollover from your employer's or former employer's qualified plan or Xxxx 401(k) plan, Xxxx 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxetsor Xxxx 457(b) plan.

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There Both the distribution and the rollover contribution are two kinds reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. Xxxx XXX-to-Xxxx XXX Rollover. You may withdraw, tax free, all or a portion of rollover contributions to an IRA. Xx one, your Xxxx XXX if you contribute amounts distributed to you the amount withdrawn within 60 days from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If date you receive the distribution into the same or another Xxxx XXX as a rollover. Only one XXX distribution within any 12-month period may be rolled over in an XXX-to-XXX 60 day rollover transaction. The 12- month waiting period begins on the date you receive an XXX distribution that you subsequently roll over, not on the date you complete the rollover transaction. Amounts withdrawn (including any amounts withheld for federal, state, or other income taxes that you did not receive) that are not rolled over will be treated as a distribution from the Xxxx XXX and may be subject to tax and/or early distribution penalty. Employer Retirement Plan-to-Xxxx XXX Rollover (by Xxxx XXX Owner). Eligible rollover distributions consisting of Xxxx 401(k), Xxxx 403(b), or Xxxx 457(b) assets may be rolled over, directly or indirectly, to your Xxxx XXX. You are solely responsible for tracking the taxable and nontaxable amounts of the assets rolled over. If you roll over a nonqualified distribution from a Xxxx 401(k), Xxxx 403(b) or Xxxx 457(b) to a Xxxx XXX, the portion of the distribution that constitutes the contribution basis is treated as basis in your Xxxx XXX. If you roll over a qualified distribution from a Xxxx 401(k), Xxxx 403(b) or Xxxx 457(b), the entire amount of the rollover contribution is considered basis in the Xxxx XXX. Required minimum distributions may not be rolled over. Eligible rollover distributions consisting of pre-tax and after-tax assets from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Xxxx XXX, if you meet applicable eligibility requirements defined in the Code or regulations. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements, and 403(a) arrangements. Amounts rolled over from an employer plan of to a Xxxx XXX (other than amounts distributed from a designated Xxxx account) are generally treated as taxable distributions from your employer or former employerretirement plan (except for amounts representing after-tax employee contributions). However, the premature distribution penalty (that typically applies to taxable withdrawals taken prior to age 59½) does not apply to amounts rolled over from your employer‘s retirement plan to your Xxxx XXX. Required minimum distributions may not be rolled over. To complete a direct rollover, from an employer plan to your Xxxx XXX, you must be generally instruct the plan administrator to send the distribution directly to your Xxxx XXX Custodian. To complete an "indirect rollover to your Xxxx XXX, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution" in order for distribution to complete an indirect rollover. However, if you inadvertently fail to complete the rollover of a distribution within 60 days, you may be able to roll all or part obtain a waiver of the distribution over 60-day time limit through a self- certification procedure if you meet certain requirements. Additionally, for certain qualified plan loan offsets (which is generally the amount an employer retirement plan account balance is reduced, or offset, to repay a loan from such plan, when the employer plan terminates, or because the participant severed from employment), you may have until the due date (including extensions) for your tax return for the tax year in which the offset occurs to complete the rollover to your IRAXxxx XXX. Xxe portion If your plan loan offset is not “qualified,” then you contribute to your IRA xxxl not be taxable to you until you withdraw it have 60 days from the IRAdate the offset occurs to complete your rollover. Xxur employer or former employer will give If you choose the opportunity indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the distribution directly from full amount. If you do not make up the plan withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Employer Retirement Plan-to-Xxxx XXX Rollover (by Inherited Xxxx XXX Owner). Please refer to the IRAsection of this document entitled “Inherited Xxxx XXX”. Xx you elect, instead, Xxxx XXX-to-Employer Plan Rollovers Not Permitted. Distributions from your Xxxx XXX are not eligible for rollover to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed designated Xxxx account in a tax-free rollover from your employer's or former employer's qualified plan or Xxxx 401(k) plan, Xxxx 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxetsor Xxxx 457(b) plan.

Rollover Contributions. A Generally, a rollover is a tax-free distribution movement of cash or other assets from one retirement program plan to another. There If you are two kinds of rollover contributions required to an IRA. Xx onetake minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Both the distribution and the rollover contribution are reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. XXX-to-XXX Rollover. You may withdraw, tax free, all or a portion of your Traditional XXX if you contribute amounts distributed the amount withdrawn within 60 days from the date you receive the distribution into the same or another Traditional XXX as a rollover. To complete a rollover of a SIMPLE XXX distribution to your Traditional XXX, at least two years must have elapsed from the date on which you first participated in any SIMPLE XXX Plan maintained by the employer, and you must contribute the distribution within 60 days from the date you receive it. Only one IRA xx another IRAXXX distribution within any 12-month period may be rolled over in an XXX-to-XXX rollover transaction. Xxth The 12-month waiting period begins on the otherdate you receive an XXX distribution that you subsequently roll over, not the date you complete the rollover transaction. If you roll over the entire amount of an XXX distribution (including any amount withheld for federal, state, or other income taxes that you did not receive), you contribute do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents basis) and may be, if you are under age 59½, subject to the premature distribution penalty tax. Employer Retirement Plan-to-XXX Rollover (by XXX Owner). Eligible distributions from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Traditional XXX. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that may not be rolled over to your Traditional XXX include any required minimum distributions, hardship distributions, any part of a series of substantially equal periodic payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover, you must generally instruct the plan administrator to send the distribution to your Traditional XXX Custodian. To complete an indirect rollover, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution to complete an indirect rollover. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents after-tax contributions) and may be, if you are under age 59½, subject to the premature distribution penalty tax. If you choose the indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the full amount. If you do not make up the withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Conduit XXX. You may use your XXX as a conduit to temporarily hold amounts distributed you receive in an eligible rollover distribution from an employer's retirement plan. Should you combine or add other amounts (e.g., regular contributions) to your conduit XXX, you from may lose the ability to subsequently roll these funds into another employer plan to take advantage of special tax rules available for certain qualified plan distribution amounts. Consult your tax advisor for additional information. Employer Retirement Plan-to-XXX Rollover (by Inherited XXX Owner). Please refer to the section of this document entitled “Inherited XXX”. XXX-to-Employer Retirement Plan Rollover. If your employer's qualified retirement plan accepts rollovers from IRAs, you may complete a direct or 403(b) plan indirect rollover of your pre-tax assets in your Traditional XXX into your employer retirement plan. If you are required to an IRAtake minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. X rollover is an allowable IRA xxxtribution which is Conversion of Traditional XXX to Xxxx XXX. Generally, you may convert all or a portion of your Traditional XXX to a Xxxx XXX provided you meet any applicable eligibility requirements as defined in the Code and Regulations. Except for amounts that represent basis, amounts converted are generally treated as taxable distributions. However, the premature distribution penalty that typically applies to taxable withdrawals taken prior to age 59½, does not apply to amounts converted from a Traditional XXX to a Xxxx XXX. Required minimum distributions may not be converted. Traditional XXX-to-Xxxx XXX conversions are not subject to the limits on regular contributions discussed 12-month rollover restriction that typically applies to rollovers between IRAs. Rollover of Exxon Xxxxxx Settlement Income. Certain income received as an Exxon Xxxxxx qualified settlement may be rolled over to a Traditional XXX or another eligible retirement plan. The amount contributed cannot exceed the lesser of $100,000 (reduced by the amount of any qualified settlement income contributed to an eligible retirement plan in Part D aboveprior tax years) or the amount of qualified settlement income received during the tax year. HoweverContributions for the year can be made until the due date for filing your return, not including extensions. RECHARACTERIZATIONS Recharacterize a Contribution/Conversion. You may "recharacterize" a contribution/conversion made to one type of XXX (either Traditional or Xxxx XXX) and treat it as if it was made to a different type of XXX (Traditional or Xxxx XXX). Both the contribution/conversion amount along with the net income attributable to the contribution/conversion must be transferred. If there was a loss, the amount of any loss will reduce the amount you may not deduct recharacterize. The deadline for completing a rollover contribution recharacterization is your tax return due date (including any extensions) for the year for which the contribution/conversion was made to the first XXX. Recharacterization requests must be made in a form and manner acceptable to the Custodian. Report recharacterizations to the IRS by attaching a statement to your IRA xx your tax returnForm 1040. If You may also need to file Form 8606. Reconversion. A reconversion occurs when you receive convert XXX assets that have been previously converted and recharacterized. A reconversion must occur in a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan subsequent year to the IRAprior conversion, or if later, after 30 days has elapsed since the recharacterization. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.TRANSFERS