Rollover Contributions. The Custodian will accept for the Depositor’s Custodial Account in a form and manner acceptable to the Custodian, all rollover contributions, from other Xxxx IRAs which consist of cash, and it may, but shall be under no obligation to accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made from employer sponsored tax qualified plans. The Depositor (or the Depositor’s Authorized Agent) shall designate each Xxxx XXX rollover contribution as such to the Custodian, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as a rollover contribution within the meaning of Section 408A(c)(3)(B), 408A(c)(6) and 408A(e) of the Code. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian may require to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s). Submission by or on behalf of a Depositor of a rollover contribution consisting of assets other than cash or property permitted as an investment under this Article IX shall be deemed to be the instruction of the Depositor to the Custodian that, if such rollover contribution is accepted, the Custodian will use its best efforts to sell those assets for the Depositor’s Account, and to invest the proceeds of any such sale in accordance with Section 3. The Custodian shall not be liable to anyone for any loss resulting from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and prior to investment pursuant to Section 3; or for any failure to effect such sale if such property proves not readily marketable in the ordinary course of business. All brokerage and other costs incidental to the sale or attempted sale of such property will be charged to the Custodial Account in accordance with Article IX, Section 19. In the case of a distribution from a Xxxx XXX, such distribution qualifies as a rollover contribution provided it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements of Section 408(d)(3) of the Code for a rollover contribution. For purposes of the Five Year Period as defined in Article IX, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Depositor’s Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the Custodian. It shall be the Depositor’s responsibility to ensure that any minimum distribution required by Sections 401(a)(9) and 408(a)(6) of the Code and applicable regulations is made prior to giving the Custodian such rollover instructions.
Appears in 4 contracts
Samples: Custodial Agreement, Custodial Agreement, Custodial Agreement
Rollover Contributions. The Custodian will accept for the Depositor’s Custodial Account in a form and manner acceptable to the Custodian, Custodian all rollover contributions, from other Xxxx IRAs contributions which consist of cash, and it may, but shall be under no obligation to to, accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made from employer sponsored tax qualified plans408. The Depositor (or the Depositor’s Authorized Agent) shall designate in a form and manner acceptable to the Custodian each Xxxx XXX rollover contribution as such to the Custodian, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as a rollover contribution within the meaning of Section 408A(c)(3)(BSections 402(c), 408A(c)(6) and 408A(e403(a)(4), 403(b)(8), 408(d)(3), and/or 457(e)(16) of the Code. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian may require to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s)Account. Submission by or on behalf of a Depositor of a rollover contribution consisting of assets other than cash or property permitted as an investment under this Article IX VIII shall be deemed to be the instruction of the Depositor to the Custodian that, if such rollover contribution is accepted, the Custodian will use its best efforts to sell those assets for the Depositor’s Account, and to invest the proceeds of any such sale in accordance with Section 3. The Custodian shall not be liable to anyone for any loss resulting from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and prior to investment pursuant to Section 3; or for any failure to effect such sale if such property proves not readily marketable in the ordinary course of business. All brokerage and other costs incidental to the sale or attempted sale of such property will be charged to the Custodial Account in accordance with Article IXVIII, Section 19. In The Custodian will not be responsible for any losses the case of a distribution from a Xxxx XXX, such distribution qualifies Depositor may incur as a rollover contribution provided it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements of Section 408(d)(3) result of the Code for a timing of any rollover contribution. For purposes from another trustee or custodian that is due to circumstances reasonably beyond the control of the Five Year Period as defined in Article IX, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Depositor’s Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the Custodian. It shall be the Depositor’s responsibility to ensure that any minimum distribution required by Sections 401(a)(9) and 408(a)(6408(d)(6) of the Code and applicable regulations is made prior to giving the Custodian such rollover instructions.
Appears in 3 contracts
Samples: Custodial Agreement, Custodial Agreement, Custodial Agreement
Rollover Contributions. The Custodian will accept A rollover contribution is an amount of cash or property which the Code permits an eligible Employee or Participant to transfer directly or indirectly to this Plan from another qualified plan. A rollover contribution excludes Employee contributions, as adjusted for the Depositor’s Custodial Account in earnings. An Employer operationally and on a form and manner acceptable nondiscriminatory basis, may elect to the Custodian, all permit or not to permit rollover contributions to this Plan or may elect to limit an eligible Employee's right or a Participant's right to make a rollover contribution. If an Employer permits rollover contributions, from other Xxxx IRAs which consist of cash, and it may, but shall be under no obligation to accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made from employer sponsored tax qualified plans. The Depositor Participant (or as applicable, any eligible Employee), with the Depositor’s Authorized Agent) shall designate each Xxxx XXX rollover contribution as such to Employer's written consent and after filing with the CustodianTrustee the form prescribed by the Plan Administrator, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as may make a rollover contribution within to the meaning of Section 408A(c)(3)(B)Trust. Before accepting a rollover contribution, 408A(c)(6the Trustee may require a Participant (or eligible Employee) and 408A(e) of to furnish satisfactory evidence the Codeproposed transfer is in fact a "rollover contribution" which the Code permits an employee to make to a qualified plan. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian Trustee, in its sole discretion, may require decline to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s). Submission by or on behalf of a Depositor of accept a rollover contribution consisting of assets property which could: (1) generate unrelated business taxable income; (2) create difficulty or undue expense in storage, safekeeping or valuation; or (3) create other than cash or property permitted as an investment under this Article IX shall be deemed to be practical problems for the instruction of the Depositor to the Custodian that, if such Trust. A rollover contribution is acceptednot an Annual Addition under Part 2 of Article III. If an eligible Employee makes a rollover contribution to the Trust prior to satisfying the Plan's eligibility conditions, the Custodian will use its best efforts to sell those assets for Plan Administrator and Trustee must treat the Depositor’s Account, Employee as a limited Participant (as described in Rev. Rul. 96-48 or in any successor ruling). A limited Participant does not share in the Plan's allocation of Employer contributions nor Participant forfeitures and to invest may not make deferral contributions if the proceeds of any such sale Plan includes a 401(k) arrangement until he/she actually becomes a Participant in accordance with Section 3the Plan. The Custodian shall not be liable to anyone for any loss resulting If a limited Participant has a Separation from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and Service prior to investment pursuant to Section 3; or for any failure to effect such sale if such property proves not readily marketable becoming a Participant in the ordinary course of business. All brokerage and other costs incidental Plan, the Trustee will distribute his/her rollover contributions Account to the sale or attempted sale of such property will be charged to the Custodial Account him/her in accordance with Article IX, Section 19. In the case of a distribution from a Xxxx XXX, such distribution qualifies VI as a rollover contribution provided if it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements of Section 408(d)(3) of the Code for a rollover contribution. For purposes of the Five Year Period as defined in Article IX, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Depositor’s were an Employer contributions Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the Custodian. It shall be the Depositor’s responsibility to ensure that any minimum distribution required by Sections 401(a)(9) and 408(a)(6) of the Code and applicable regulations is made prior to giving the Custodian such rollover instructions.
Appears in 3 contracts
Samples: Participation Agreement (Petco Animal Supplies Inc), CRH Public LTD Co, Bank of Granite Corp
Rollover Contributions. The Custodian will accept A rollover contribution is an amount of cash or property which the Code permits an eligible Employee or Participant to transfer directly or indirectly to this Plan from another qualified plan. A rollover contribution excludes Employee contributions, as adjusted for the Depositorearnings. An Employer operationally and on a nondiscriminatory basis, may elect to permit or not to permit rollover contributions to this Plan or may elect to limit an eligible Employee’s Custodial Account in right or a form and manner acceptable Participant’s right to the Custodian, all make a rollover contribution. If an Employer permits rollover contributions, from other Xxxx IRAs which consist of cash, and it may, but shall be under no obligation to accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made from employer sponsored tax qualified plans. The Depositor Participant (or as applicable, any eligible Employee), with the DepositorEmployer’s Authorized Agent) shall designate each Xxxx XXX rollover contribution as such to written consent and after filing with the CustodianTrustee the form prescribed by the Plan Administrator, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as may make a rollover contribution within to the meaning of Section 408A(c)(3)(B)Trust. Before accepting a rollover contribution, 408A(c)(6the Trustee may require a Participant (or eligible Employee) and 408A(e) of to furnish satisfactory evidence the Codeproposed transfer is in fact a “rollover contribution” which the Code permits an employee to make to a qualified plan. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian Trustee, in its sole discretion, may require decline to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s). Submission by or on behalf of a Depositor of accept a rollover contribution consisting of assets property which could: (1) generate unrelated business taxable income; (2) create difficulty or undue expense in storage, safekeeping or valuation; or (3) create other than cash or property permitted as an investment under this Article IX shall be deemed to be practical problems for the instruction of the Depositor to the Custodian that, if such Trust. A rollover contribution is acceptednot an Annual Addition under Part 2 of Article III. If an eligible Employee makes a rollover contribution to the Trust prior to satisfying the Plan’s eligibility conditions, the Custodian will use its best efforts to sell those assets for Plan Administrator and Trustee must treat the DepositorEmployee as a limited Participant (as described in Rev. Rul. 96-48 or in any successor ruling). A limited Participant does not share in the Plan’s Account, allocation of Employer contributions nor Participant forfeitures and to invest may not make deferral contributions if the proceeds of any such sale Plan includes a 401(k) arrangement until he/she actually becomes a Participant in accordance with Section 3the Plan. The Custodian shall not be liable to anyone for any loss resulting If a limited Participant has a Separation from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and Service prior to investment pursuant to Section 3; or for any failure to effect such sale if such property proves not readily marketable becoming a Participant in the ordinary course of business. All brokerage and other costs incidental Plan, the Trustee will distribute his/her rollover contributions Account to the sale or attempted sale of such property will be charged to the Custodial Account him/her in accordance with Article IX, Section 19. In the case of a distribution from a Xxxx XXX, such distribution qualifies VI as a rollover contribution provided if it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements of Section 408(d)(3) of the Code for a rollover contribution. For purposes of the Five Year Period as defined in Article IX, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Depositor’s were an Employer contributions Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the Custodian. It shall be the Depositor’s responsibility to ensure that any minimum distribution required by Sections 401(a)(9) and 408(a)(6) of the Code and applicable regulations is made prior to giving the Custodian such rollover instructions.
Appears in 2 contracts
Samples: Defined Contribution Prototype Plan and Trust Agreement (MSC Software Corp), Trimeris Inc
Rollover Contributions. The Custodian will accept for the Depositor’s Custodial Account Account, in a form and manner acceptable to the Custodian, all rollover contributions, within the meaning of Sections 408A(c)(3)(B), 408A(c) (6), and 408A(e) of the Code, from other Xxxx IRAs which consist of cash, and it may, but shall be under no obligation to to, accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made from employer employer-sponsored tax tax-qualified plans. The Depositor (or the Depositor’s Authorized Agent) shall designate each Xxxx XXX rollover contribution as such to the Custodian, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as a rollover contribution within the meaning of Section 408A(c)(3)(B), 408A(c)(6) ), and 408A(e) of the Code. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian may require to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s)Account. Submission by or on behalf of a Depositor of a rollover contribution consisting of assets other than cash or property permitted as an investment under this Article IX shall be deemed to be the instruction of the Depositor to the Custodian that, if such rollover contribution is accepted, the Custodian will use its best efforts to sell those assets for the Depositor’s Account, and to invest the proceeds of any such sale in accordance with Section 3. The Custodian shall not be liable to anyone for any loss resulting from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and prior to investment pursuant to Section 3; or for any failure to effect such sale if such property proves not readily marketable in the ordinary course of business. All brokerage and other costs incidental to the sale or attempted sale of such property will be charged to the Custodial Account in accordance with Article IX, Section 1920. In the case of a distribution from a Xxxx XXX, such distribution qualifies as a rollover contribution provided it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements of Section 408(d)(3) of the Code for a rollover contribution. For purposes The Custodian will not be responsible for any losses the Depositor may incur as a result of the Five Year Period as defined in Article IX, Section 12 below, a Xxxx XXX established with a timing of any rollover contribution will be deemed from another trustee or custodian that is due to be established on January 1 circumstances beyond the control of the year in which such rollover contribution is credited by the Custodian to the Depositor’s Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the Custodian. It shall be the Depositor’s responsibility to ensure that any minimum distribution required by Sections 401(a)(9) and 408(a)(6) of the Code and applicable regulations is made prior to giving the Custodian such rollover instructions.
Appears in 2 contracts
Samples: Custodial Agreement, Custodial Agreement
Rollover Contributions. The Custodian will accept for the Depositor’s Custodial Account Account, in a form and manner acceptable to the Custodian, all rollover contributions, from other Xxxx IRAs contributions which consist of cash, and it may, but shall be under no obligation to to, accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made from employer sponsored tax qualified plans408. The Depositor (or the Depositor’s Authorized Agent) shall designate designate, in a form and manner acceptable to the Custodian, each Xxxx XXX rollover contribution as such to the Custodian, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as a rollover contribution within the meaning of Section 408A(c)(3)(BSections 402(c), 408A(c)(6) and 408A(e403(a)(4), 403(b)(8), 408(d)(3), and/or 457(e)(16) of the Code. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian may require to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s)Account. Submission by or on behalf of a Depositor of a rollover contribution consisting of assets other than cash or property permitted as an investment under this Article IX VIII shall be deemed to be the instruction of the Depositor to the Custodian that, if such rollover contribution is accepted, the Custodian will use its best efforts to sell those assets for the Depositor’s Account, and to invest the proceeds of any such sale in accordance with Section 3. The Custodian shall not be liable to anyone for any loss resulting from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and prior to investment pursuant to Section 3; or for any failure to effect such sale if such property proves not readily marketable in the ordinary course of business. All brokerage and other costs incidental to the sale or attempted sale of such property will be charged to the Custodial Account in accordance with Article IXVIII, Section 19. In The Custodian will not be responsible for any losses the case of a distribution from a Xxxx XXX, such distribution qualifies Depositor may incur as a rollover contribution provided it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements of Section 408(d)(3) result of the Code for a timing of any rollover contribution. For purposes from another trustee or custodian that is due to circumstances beyond the control of the Five Year Period as defined in Article IX, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Depositor’s Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the Custodian. It shall be the Depositor’s responsibility to ensure that any minimum distribution required by Sections 401(a)(9) and 408(a)(6408(d)(6) of the Code and applicable regulations is made prior to giving the Custodian such rollover instructions.
Appears in 2 contracts
Samples: Custodial Agreement, Custodial Agreement
Rollover Contributions. The Custodian will may also accept Rollover Contributions in cash as a deposit to the Custodial Account, provided, however, that any such Rollover Contribution shall be held by the Custodian in a separate Custodial Account for the Depositor’s benefit of the Depositor that consists only of Rollover Contributions and the earnings thereof. Once transferred into the Employee's Custodial Account in a form and manner acceptable to the CustodianAccount, all rollover contributions, from other Xxxx IRAs which consist of cash, and it may, but such assets shall be under no obligation to accept all or any part of any other property permitted treated as an investment under Code Section 408A. Employer contribution for purposes of this Agreement and shall be invested, distributed and otherwise dealt with as such; provided, however, that such Rollover Contributions shall be disregarded in applying the limitations on the amount of Employer contributions to a Xxxx XXX cannot which can be made from employer sponsored tax qualified planshereunder. The Depositor (or the Depositor’s Authorized Agent) Employee shall designate each Xxxx XXX rollover contribution execute such forms and provide such information as such to the Custodian, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as a rollover contribution within the meaning of Section 408A(c)(3)(B), 408A(c)(6) and 408A(e) of the Code. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian may require to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s). Submission by or on behalf of a Depositor of a rollover contribution consisting of assets other than cash or property permitted as an investment under this Article IX shall be deemed to be the instruction of the Depositor to the Custodian that, if such rollover contribution is accepted, the Custodian will use its best efforts to sell those assets for the Depositor’s Account, and to invest the proceeds of any such sale in accordance with Section 3. The Custodian shall not be liable to anyone for any loss resulting from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and prior to investment pursuant to Section 3; or for any failure to effect such sale if such property proves not readily marketable in the ordinary course source of business. All brokerage and other costs incidental to the sale or attempted sale of such property will be charged to the Custodial Account in accordance with Article IX, Section 19. In the case of a distribution from a Xxxx XXX, such distribution qualifies as a rollover contribution provided it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements of Section 408(d)(3) of the Code for a rollover contribution. For purposes of the Five Year Period as defined in Article IX, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Depositor’s Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the CustodianRollover Contributions. It shall be the Depositor’s responsibility of the Employee, and not the responsibility of the Custodian, the Sponsor, or any Designated Investment Company, to determine and ensure that any minimum distribution required by Sections 401(a)(9) and 408(a)(6) of the Code and such Rollover Contribution complies with all applicable regulations is tax law requirements. A Rollover Contribution also may be made prior to giving in Designated Investment Company shares and/or in other securities, provided that the Custodian such rollover instructionsreserves the right to refuse to accept any property which is not in the form of cash or Designated Investment Company shares. If securities, other than Designated Investment Company shares, are accepted by the Custodian, they shall be sold by the Custodian and the proceeds, after deduction of all expenses and charges involved in the sale, shall be reinvested in accordance with Article IV.
Appears in 2 contracts
Samples: Custodial Agreement (Usaa Mutual Fund Inc), Custodial Agreement (Usaa Investment Trust)
Rollover Contributions. The Custodian will accept for the Depositor’s Custodial Account in a form and manner acceptable to the Custodian, all rollover contributions, contributions from other Xxxx SIMPLE-IRAs which that consist of cash, and it may, but shall be under no obligation to to, accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made roll- over contribution from employer sponsored tax qualified plansanother SIMPLE-XXX. The Depositor (or the Depositor’s Authorized Agent) shall designate each Xxxx XXX rollover contribution as such to the Custodian, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as a rollover contribution within the meaning of Section 408A(c)(3)(B), 408A(c)(6) and 408A(e408(d)(3) of the Code. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian may require to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s). Submission by or on behalf of a Depositor of a rollover contribution consisting of assets other than cash or property permitted as an investment under this Article IX VIII shall be deemed to be the instruction of the Depositor to the Custodian that, if such rollover contribution contribu- tion is accepted, the Custodian will use its best efforts to sell those assets for the Depositor’s Account, and to invest the proceeds of any such sale in accordance with Section 32. The To the extent permitted by law, the Custodian shall not be liable to anyone for any loss resulting from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and prior to investment pursuant to Section 32; or for any failure to effect such sale if such property proves not readily marketable in the ordinary course of business. All brokerage and other costs incidental to the sale or attempted sale of such property will be charged to the Custodial Account in accordance with Article IXVIII, Section 19. In the case of a distribution from a Xxxx XXX, such distribution qualifies as a rollover contribution provided it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements of Section 408(d)(3) of the Code for a rollover contribution. For purposes of the Five Year Period as defined in Article IX, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Depositor’s Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the Custodian. It shall be the Depositor’s responsibility to ensure that any minimum distribution required by Sections 401(a)(9) and 408(a)(6) of the Code and applicable regulations is made prior to giving the Custodian such rollover instructions.Section
Appears in 1 contract
Samples: Custodial Agreement
Rollover Contributions. The Custodian will accept for the Depositor’s Custodial Account in a form and manner acceptable to the Custodian, all rollover contributions, from other Xxxx IRAs IRAs, which consist of cash, and it may, but shall be under no obligation to accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made from employer sponsored tax qualified plans. The Depositor (or the Depositor’s Authorized Agent) shall designate each Xxxx XXX rollover contribution as such to the Custodian, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as a rollover contribution within the meaning of Section 408A(c)(3)(B408A(c)(3)(b), 408A(c)(6) and 408A(e) of the Code. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian may require to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s). Submission by or on behalf of a Depositor of a rollover contribution consisting of assets other than cash or property permitted as an investment under this Article IX shall be deemed to be the instruction of the Depositor to the Custodian that, if such rollover contribution is accepted, the Custodian will use its best efforts to sell those assets for the Depositor’s Account, and to invest the proceeds of any such sale in accordance with Section 3. The Custodian shall not be liable to anyone for any loss resulting from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and prior to investment pursuant to Section 3; or for any failure to effect such sale if such property proves not readily marketable in the ordinary course of business. All brokerage and other costs incidental to the sale or attempted sale of such property will be charged to the Custodial Account in accordance with Article IX, Section 19. In the case of a distribution from a Xxxx XXX, such distribution qualifies as a rollover contribution provided it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements of Section 408(d)(3) of the Code for a rollover contribution. For purposes of the Five Year Period as defined in Article IX, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Depositor’s Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the Custodian. It shall be the Depositor’s responsibility to ensure that any minimum distribution required by Sections 401(a)(9) and 408(a)(6) of the Code and applicable regulations is made prior to giving the Custodian such rollover instructions.
Appears in 1 contract
Samples: Custodial Agreement
Rollover Contributions. The Custodian will accept for the Depositor’s Custodial Account Account, in a form and manner acceptable to the Custodian, all rollover contributions, from other Xxxx IRAs contributions which consist of cash, and it may, but shall be under no obligation to to, accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made from employer sponsored tax qualified plans408. The Depositor (or the DepositorXxxxxxxxx’s Authorized Agent) shall designate designate, in a form and manner acceptable to the Custodian, each Xxxx XXX rollover contribution as such to the Custodian, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as a rollover contribution within the meaning of Section 408A(c)(3)(BSections 402(c), 408A(c)(6) and 408A(e403(a)(4), 403(b)(8), 408(d)(3), and/or 457(e)(16) of the Code. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian may require to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s)Account. Submission by or on behalf of a Depositor of a rollover contribution consisting of assets other than cash or property permitted as an investment under this Article IX VIII shall be deemed to be the instruction of the Depositor to the Custodian that, if such rollover contribution is accepted, the Custodian will use its best efforts to sell those assets for the Depositor’s Account, and to invest the proceeds of any such sale in accordance with Section 3. The Custodian shall not be liable to anyone for any loss resulting from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and prior to investment pursuant to Section 3; or for any failure to effect such sale if such property proves not readily marketable in the ordinary course of business. All brokerage and other costs incidental to the sale or attempted sale of such property will be charged to the Custodial Account in accordance with Article IXVIII, Section 19. In The Custodian will not be responsible for any losses the case of a distribution from a Xxxx XXX, such distribution qualifies Depositor may incur as a rollover contribution provided it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements of Section 408(d)(3) result of the Code for a timing of any rollover contribution. For purposes from another trustee or custodian that is due to circumstances beyond the control of the Five Year Period as defined in Article IX, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Depositor’s Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the Custodian. It shall be the Depositor’s responsibility to ensure that any minimum distribution required by Sections 401(a)(9) and 408(a)(6408(d)(6) of the Code and applicable regulations is made prior to giving the Custodian such rollover instructions.
Appears in 1 contract
Samples: Custodial Agreement
Rollover Contributions. The Custodian will accept for the Depositor’s Custodial Account in a form and manner acceptable to the Custodian, all rollover contributions, contributions from other Xxxx SIMPLE-IRAs which consist of cash, and it may, but shall be under no obligation to to, accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made rollover contribution from employer sponsored tax qualified plansanother SIMPLE-XXX. The Depositor (or the Depositor’s Authorized Agent) shall designate each Xxxx XXX rollover contribution as such to the Custodian, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as a rollover contribution within the meaning of Section 408A(c)(3)(B), 408A(c)(6) and 408A(e408(d)(3) of the Code. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian may require to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s). Submission by or on behalf of a Depositor of a rollover contribution consisting of assets other than cash or property permitted as an investment under this Article IX VIII shall be deemed to be the instruction of the Depositor to the Custodian that, if such rollover contribution is accepted, the Custodian will use its best efforts to sell those assets for the Depositor’s Account, and to invest the proceeds of any such sale in accordance with Section 32. The To the extent permitted by law, the Custodian shall not be liable to anyone any- one for any loss resulting from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and prior to investment pursuant to Section 32; or for any failure to effect such sale if such property proves not readily marketable in the ordinary course of business. All brokerage and other costs incidental to the sale or attempted sale of such property prop- erty will be charged to the Custodial Account in accordance with Article IXVIII, Section 1918. In the case of a distribution from a Xxxx SIMPLE-XXX, such distribution qualifies quali- fies as a rollover contribution provided it is deposited timely to another Xxxx SIMPLE-XXX (or, if the “two year period” has elapsed, to another XXX) or an employer spon- sored plan that accepts such rollovers) and otherwise satisfies the requirements of Section 408(d)(3) of the Code for a rollover contribution. For purposes of the Five Year Period as defined in Article IX, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Depositor’s Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the Custodian. It shall be the Depositor’s responsibility to ensure that any minimum distribution required by Sections 401(a)(9) and 408(a)(6) of the Code and applicable regulations is made prior to giving the Custodian such rollover instructions.
Appears in 1 contract
Samples: Custodial Agreement
Rollover Contributions. The Custodian will may accept for contributions in the Depositor’s Custodial Account in a form and manner of assets acceptable to the CustodianCustodian received from an annuity contract or a custodial account described in section 403(b) of the Code, all rollover contributionsan individual retirement account described in section 408(a) of the Code, from other Xxxx IRAs which consist an individual retirement annuity described in section 408(b) of cashthe Code, and it mayor a retirement bond described in section 409(a) of the Code, but shall be under no obligation to accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made from employer sponsored tax qualified plans. The Depositor (or the Depositor’s Authorized Agent) shall designate each Xxxx XXX rollover contribution as provided that such to the Custodian, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies in all respects as a rollover contribution within in accordance with the meaning requirements of Section 408A(c)(3)(Bsection 403(b)(8), 408A(c)(6section 408(d)(3) and 408A(eor section 409(b)(3)(C) of the Code (including the requirement that no part of the amount received from an individual retirement account, individual retirement annuity or retirement bond be attributable to any source other than a rollover contribution from any annuity contract or custodial account described in section 403(b) of the Code) or other applicable provisions of the Code in effect from time to time. Such rollover contribution shall be held by the Custodian in a separate Account for the benefit of the Employee which consists only of such rollover contributions and the earnings thereon. Once transferred into the Employee's Custodial Account, such assets shall be treated as a Contribution for purposes of this Agreement and shall be invested, distributed and otherwise dealt with as such. The Depositor (or right is reserved to transfer the Depositor’s Authorized Agent) shall provide any information the Custodian may require to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s). Submission by or on behalf of a Depositor of a rollover contribution consisting of assets other than cash or property permitted as an investment under this Article IX shall be deemed to be the instruction of the Depositor to the Custodian that, if such rollover contribution is accepted, the Custodian will use its best efforts to sell those assets for the Depositor’s Account, and to invest the proceeds of any such sale in accordance with Section 3. The Custodian shall not be liable to anyone for any loss resulting from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and prior to investment pursuant to Section 3; or for any failure to effect such sale if such property proves not readily marketable in the ordinary course of business. All brokerage and other costs incidental to the sale or attempted sale of such property will be charged to the Custodial Investment Account in accordance with Article IX, Section 19. In the case of a distribution from a Xxxx XXX, such distribution qualifies as a rollover contribution provided it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements form of Section 408(d)(3annuity contract or custodial account described in section 403(b) of the Code for a rollover contribution. For purposes or to an individual retirement account, individual retirement annuity, or retirement bond plan established pursuant to section 408 or 409 of the Five Year Period Code. If permitted by Xxxxxxx Fund Distributors, Inc., in accordance with applicable law, rollover contributions with respect to qualified voluntary employee contributions as defined in Article IX, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Depositor’s Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the Custodian. It shall be the Depositor’s responsibility to ensure that any minimum distribution required by Sections 401(a)(9) and 408(a)(6section 219(e)(2) of the Code may be received under this Agreement with respect to taxable years beginning after December 31, 1981, and applicable regulations is made prior to giving such contributions shall thereafter be held and administered hereunder by the Custodian such rollover instructionsin accordance with all applicable law with respect to accumulated deductible employee contributions as defined in section 72(o)(5)(B) of the Code.
Appears in 1 contract
Samples: Scudder International Fund Inc
Rollover Contributions. The Custodian Only rollover contributions that are in the form of a check, money order or similar cash item will accept be accepted for the Depositor’s Custodial Account Account, except that securities may be accepted at the sole discretion of the Fund, in a form and manner acceptable to kind, as described in the Custodian, all rollover contributions, from other Xxxx IRAs which consist prospectuses of cash, and it may, but shall be under no obligation to accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made from employer sponsored tax qualified plansthe Fund. The Depositor (or the Depositor’s Authorized Agent) shall designate each Xxxx XXX rollover contribution as such to the Custodian, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as a rollover contribution within the meaning of Section 408A(c)(3)(Bsections 402(c), 408A(c)(6403(a)(4), 403(b)(8) and 408A(eor 408(d)(3) of the Code or an employer contribution to a plan described in section 408(k) or 408(p) of the Code. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian may require to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s). Submission by or on behalf of a Depositor of a rollover contribution consisting of assets other than cash or property permitted as an investment under this Article IX shall be deemed to be the instruction Custodian, upon written direction of the Depositor and after submission to the Custodian thatof such documents as it may reasonably require, if shall, to the extent permitted, transfer the assets held under this Agreement (reduced by any amounts referred to in paragraph 9) to a successor individual retirement account, individual retirement annuity (other than an endowment contract) or retirement bond for the Depositor's benefit or to an exempt employee's trust established under a plan that satisfies the qualification requirements of section 401(a) of the Code. Any amounts received or transferred by the Custodian under this paragraph shall be accompanied by such rollover contribution is acceptedrecords and other documents as the Custodian deems necessary to establish the nature, value and extent of the assets and of the various interests therein. Neither Bennington, the Fund, the Custodian nor any other party providing services to the Custodial Account will use its best efforts to sell those assets have any responsibility for the Depositor’s Account, and to invest the proceeds of any such sale in accordance with Section 3. The Custodian shall not be liable to anyone for any loss resulting from such sale or delay in effecting such sale; or for any loss of income or appreciation rendering advice with respect to the proceeds thereof after investment and reinvestment of Depositor's Custodial Account, nor shall such sale and prior to investment pursuant to Section 3; or parties be liable for any failure loss or diminution in value which results from Depositor's exercise of investment control over his custodial account. Depositor shall have and exercise exclusive responsibility for and control over the investment of the assets of his Custodial Account, and neither Bennington, the Fund, the Custodian nor any other such party shall have any duty to effect such sale if such property proves not readily marketable question his directions in that regard or to advise him regarding the ordinary course of business. All brokerage and other costs incidental to the sale purchase, retention or attempted sale of such property will shares of one or more Funds for the Custodial Account. The parties do not intend to confer any fiduciary duties on Custodian, the Fund or Bennington, and none shall be charged implied. None of the Custodian, the Fund or Bennington shall be liable (or assume any responsibility) for the collection of contributions, the proper amount, time or deductibility of any contribution to the Custodial Account in accordance with Article IXor the propriety of any contributions under this Agreement, Section 19. In or the case of a distribution from a Xxxx XXXpurpose, such distribution qualifies as a rollover contribution provided it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements of Section 408(d)(3) of the Code for a rollover contribution. For purposes of the Five Year Period as defined in Article IXtime, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Depositor’s Account, unless an earlier funding date is evidenced by the Depositor in a form and manner acceptable to the Custodian. It shall be the Depositor’s responsibility to ensure that amount (including any minimum distribution required by Sections 401(a)(9amounts) or propriety of any distribution hereunder, which matters are the responsibility of Depositor and 408(a)(6) of the Code and applicable regulations is made prior to giving the Custodian such rollover instructionsDepositor's Beneficiary.
Appears in 1 contract
Samples: Accessor Funds Inc