Common use of Rollovers to SIMPLE IRAs Clause in Contracts

Rollovers to SIMPLE IRAs. You may not roll over assets to a conduit IRA. Conduit IRAs can provide individuals with a means SIMPLE IRA from a traditional IRA or other eligible retirement of tracking IRA assets from different sources, which may be plan until two years have passed since you first participated in an subject to certain restrictions or favorable tax treatment. employer's SIMPLE IRA plan, which is the initial contribution date. 6. Extension of the 60-Day Period. The Secretary of the Treasury If you participated in SIMPLE IRA plans of different employers, the may extend the 60-day period for completing rollovers in certain initial contribution date and two-year period are determined situations such as casualty, disaster, or other events beyond the separately for SIMPLE IRA assets from each employer. reasonable control of the individual who is subject to the 60-day 5. Rollovers from Employer-Sponsored Eligible Retirement Plans. period. The IRS also provides for a self-certification procedure for You may directly or indirectly roll over assets from an eligible making a late rollover (subject to verification by the IRS) that you retirement plan, sponsored by your employer, into your IRA. Your may use to claim eligibility for an extension with respect to a plan administrator or employer is responsible for determining the rollover into an IRA. It provides that we may rely on the amount of your assets in its eligible retirement plan that are eligible certification provided by you in accepting and reporting receipt of a for rollover to an IRA or other eligible retirement plan. rollover contribution after the 60-day period (i.e., a late rollover) if

Rollovers to SIMPLE IRAs. You may not roll over assets to a conduit IRA. Conduit IRAs can provide individuals with a means SIMPLE IRA from a traditional IRA or other eligible retirement of tracking IRA assets from different sources, which may be plan until two years have passed since you first participated in an subject to certain restrictions or favorable tax treatment. employer's SIMPLE IRA planSIMPLE, which is the initial contribution date. If you 6. Extension of the 60-Day Period. The Secretary of the Treasury If you participated in SIMPLE IRA plans SIMPLEs of different employers, the initial may extend the 60-day period for completing rollovers in certain initial contribution date and two-year period are determined separately for situations such as casualty, disaster, or other events beyond the separately for SIMPLE IRA assets from each employer. reasonable control of the individual who is subject to the 60-day 5. Rollovers from Employer-Sponsored Eligible Retirement Plans. period. The IRS also provides for a self-certification procedure for You may directly or indirectly roll over assets from an eligible making a late rollover (subject to verification by the IRS) that you retirement plan, sponsored by your employer, into your IRA. Your may use to claim eligibility for an extension with respect to a plan administrator or employer is responsible for determining the rollover into an IRA. It provides that we may rely on the amount of your assets in its eligible retirement plan that are eligible certification provided by you in accepting and reporting receipt of a for rollover to an IRA or other eligible retirement plan. rollover contribution after the 60-day period (i.e., a late rollover) if