Common use of Transaction Selection Clause in Contracts

Transaction Selection.  Transfer – Describes the movement of assets directly between IRA trustees/custodians, without distribution to the account owner. As such, no tax forms are generated by either trustees/custodian.  Direct Rollover – Describes a movement of plan assets directly between the trustee of an IRA and the trustee of a business retirement plan (such as profit sharing, money purchase, 401(k), defined benefit plan or another eligible retirement plan), or the administrator of a 403(b) or (b) annuity. By directly rolling an eligible rollover distribution through the trustee to this IRA, the account owner can avoid the otherwise mandatory 20% federal income withholding tax. Please contact your current trustee or plan administrator/employer about this transaction before initiating the request. I certify that this transaction meets the requirements for a qualifying rollover contribution as defined in the plan. Are these assets inherited coming from a deceased Owner account or beneficiary IRA?  Yes  No  Conversion-Describes a movement of assets directly from the trustee of a Traditional IRA or Qualified Plan to a Roth IRA. A conversion is a taxable event and subject to the Federal withholding rules.

Transaction Selection.  Transfer – Describes the movement of assets directly between IRA XXX trustees/custodians, without distribution to the account owner. As such, no tax forms are generated by either trustees/custodian.  Direct Rollover – Describes a movement of plan assets directly between the trustee of an IRA XXX and the trustee of a business retirement plan (such as profit sharing, money purchase, 401(k), defined benefit plan or another eligible retirement plan), or the administrator of a 403(b) or (b) annuity. By directly rolling an eligible rollover distribution through the trustee to this IRAXXX, the account owner can avoid the otherwise mandatory 20% federal income withholding tax. Please contact your current trustee or plan administrator/employer about this transaction before initiating the request. I certify that this transaction meets the requirements for a qualifying rollover contribution as defined in the plan. Are these assets inherited coming from a deceased Owner account or beneficiary IRAXXX?  Yes  No  Conversion-Describes a movement of assets directly from the trustee of a Traditional IRA XXX or Qualified Plan to a Roth IRAXxxx XXX. A conversion is a taxable event and subject to the Federal withholding rules.

Transaction Selection.  ❑ Transfer – Describes the movement of assets directly between IRA trustees/custodians, without distribution to the account owner. As such, no tax forms are generated by either trustees/custodian.  ❑ Direct Rollover – Describes a movement of plan assets directly between the trustee of an IRA and the trustee of a business retirement plan (such as profit sharing, money purchase, 401(k), defined benefit plan or another eligible retirement plan), or the administrator of a 403(b) or (b) annuity. By directly rolling an eligible rollover distribution through the trustee to this IRA, the account owner can avoid the otherwise mandatory 20% federal income withholding tax. Please contact your current trustee or plan administrator/employer about this transaction before initiating the request. I certify that this transaction meets the requirements for a qualifying rollover contribution as defined in the plan. Are these assets inherited coming from a deceased Owner account or beneficiary IRA?  ❑ Yes  ❑ No  ❑ Conversion-Describes a movement of assets directly from the trustee of a Traditional IRA or Qualified Plan to a Roth IRAXxxx XXX. A conversion is a taxable event and subject to the Federal withholding rules.