Common use of SIMPLE IRA-to-SIMPLE IRA Rollovers Clause in Contracts

SIMPLE IRA-to-SIMPLE IRA Rollovers. Funds distributed from your SIMPLE IRA may be rolled over to a SIMPLE IRA of yours if the requirements of Code section 408(d)(3) are met. A proper SIMPLE IRA to SIMPLE IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. You may not have completed another SIMPLE IRA to SIMPLE IRA rollover from the distributing SIMPLE IRA during the 12 months preceding the date you receive the distribution. Further, you may roll over the same dollars or assets only once every 12 months.

Appears in 3 contracts

Samples: Simple Ira Plan Establishment, Custodial Agreement, Adoption Agreement Simple Ira

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SIMPLE IRA-to-SIMPLE IRA Rollovers. Funds Assets distributed from your SIMPLE IRA may be rolled over to a SIMPLE IRA of yours if the requirements of Code section IRC Sec. 408(d)(3) are met. A proper SIMPLE IRA to SIMPLE IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. You may not have completed another SIMPLE IRA to SIMPLE IRA rollover from the distributing SIMPLE IRA during the 12 months preceding the date you receive the distribution. Further, you may roll over the same dollars or assets only once every 12 months. In the case of a distribution for a first-time homebuyer where there was a delay or cancellation of the purchase, the 60-day rollover period may be extended to 120 days.

Appears in 1 contract

Samples: Simple Ira Custodial Agreement

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