Common use of SIMPLE XXX to Traditional XXX Rollovers Clause in Contracts

SIMPLE XXX to Traditional XXX Rollovers. Funds may be distributed from your SIMPLE XXX and rolled over to your Traditional XXX without IRS penalty, provided two years have passed since you first participated in a SIMPLE XXX plan sponsored by your employer. As with Traditional XXX to Traditional XXX rollovers, the requirements of Code Section 408(d)(3) must be met. A proper SIMPLE XXX to Traditional XXX 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 XXX to Traditional XXX or SIMPLE XXX to SIMPLE XXX rollover from the distributing SIMPLE XXX 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.

SIMPLE XXX to Traditional XXX Rollovers. Funds may be distributed from your SIMPLE XXX and rolled over to your Traditional XXX without IRS penaltypenalty provided, provided two years have passed since you first participated in a SIMPLE XXX plan sponsored by your employer. As with Traditional XXX to Traditional XXX rollovers, the requirements of Code Section section 408(d)(3) must be met. A proper SIMPLE XXX to Traditional XXX 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 XXX to Traditional XXX or SIMPLE XXX to SIMPLE XXX rollover from the distributing SIMPLE XXX 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.

SIMPLE XXX to Traditional XXX Rollovers. Funds may be Amounts distributed from your SIMPLE XXX and may be rolled over to your Traditional XXX without IRS penaltypenalty tax, provided provided, two years have passed since you first participated in a SIMPLE XXX plan sponsored by your employer. As with Traditional XXX to Traditional XXX rollovers, the requirements of Code Section section 408(d)(3) must be met. A proper SIMPLE XXX to Traditional XXX 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 XXX to Traditional XXX or SIMPLE XXX to SIMPLE XXX rollover from the distributing SIMPLE XXX 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.