Transfer Due to Divorce. If all or any part of your Xxxx XXX is awarded to your spouse or former spouse in a divorce or legal separation proceeding, the amount so awarded will be treated as the spouse’s Xxxx XXX (and may be transferred pursuant to a court-approved divorce decree or written legal separation agreement to another Xxxx XXX of your spouse), and will not be considered a taxable distribution to you. A transfer is a tax-free direct movement of cash and/or property from one Xxxx XXX to another.
Transfer Due to Divorce. If all or any part of your IRA is awarded to your spouse or former spouse in a divorce or legal separation proceeding, the amount so awarded will be treated as the spouse’s IRA (and may be transferred pursuant to a court-approved divorce decree or written legal separation agreement to another IRA of your spouse), and will not be considered a taxable distribution to you. A transfer is a tax-free direct movement of cash and/or property from one Traditional IRA to another or from one Xxxx XXX to another.
Transfer Due to Divorce. If all or any portion of your Account is awarded to a former spouse pursuant to divorce or legal separation, such portion can be transferred to an IRA in the receiving spouse’s name. This transaction can be processed without any tax implications to you provided a written instrument specifically directing such transfer is executed by a court incident to the divorce or legal separation in accordance with Section 408(d)(6) of the Code is received and accepted by us. We may require other direction from you and the recipient of any portion of your Account.
Transfer Due to Divorce. If all or any part of your Xxxx XXX is awarded to your spouse or former spouse in a divorce or legal separation proceeding, the amount so awarded will be treated as the spouse’s Xxxx XXX (and may be transferred pursuant to a court-approved divorce decree or written legal separation agreement to another Xxxx XXX of your spouse), and will not be considered a taxable distribution to you. A transfer is a tax-free direct movement of cash and/or property from one Xxxx XXX to another. Recharacterizations – If you make a contribution to a Traditional IRA and later recharacterize either all or a portion of the original contribution to a Xxxx XXX along with net income attributable, you may elect to treat the original contribution as having been made to the Xxxx XXX. The same methodology applies when recharacterizing a contribution from a Xxxx XXX to a Traditional IRA. For tax years beginning before January 1, 2018, if you have converted from a Traditional IRA to a Xxxx XXX, or rolled over an eligible employer-sponsored retirement plan to a Xxxx XXX, you may recharacterize the conversion or rollover along with the net income attributable to a Traditional IRA. The deadline for completing a recharacterization is your tax filing deadline (including any extensions) for the year for which the original contribution was made or conversion or rollover completed. However, effective for tax years beginning after December 31, 2017, you may not recharacterize a Xxxx XXX conversion or an employer-sponsored retirement plan rollover. LIMITATIONS AND RESTRICTIONS Xxxxxxx Xxxx XXX – If you are married and have compensation, you may contribute to a Xxxx XXX established for the benefit of your spouse, regardless of whether or not your spouse has compensation. You must file a joint income tax return for the year for which the contribution is made. Gift Tax – Transfers of your Xxxx XXX assets to a beneficiary made during your life and at your request may be subject to federal gift tax under IRC Sec. 2501. Special Tax Treatment – Capital gains treatment and 10-year income averaging authorized by IRC Sec. 402 do not apply to Xxxx XXX distributions.
Transfer Due to Divorce. If all or any part of your IRA is awarded to your spouse or former spouse in a divorce or legal separation proceeding, the amount so awarded will be treated as the spouse’s IRA (and may be transferred pursuant to a court-approved divorce decree or written legal separation agreement to another IRA of your spouse), and will not be considered a taxable distribution to you. A transfer is a tax-free direct movement of cash and/or property from one IRA to another. waived for Clients of Xxxxx’x Client Relationship Team electing electronic delivery of all client communications. Xxxxx reserves the right to charge any additional fee or modify any applicable fees at any time upon 30 days’ notice to you. An updated listing of all account and service fees, including updated IRA service fees can be found at xxxxx://xxx.xxxxxxx.xxx/help/schedule-fees-and- service-charges/. You must pay on demand any debit balance or other obligation owed to Xxxxx. Unless you enter into an alternative arrangement reasonably acceptable to Xxxxx, if a fee or expense is due and there is insufficient cash or cash equivalents in your IRA, Xxxxx reserves the right to liquidate assets in the IRA to cover fees, purchase and other administrative expenses. Any fees payable in connection with the provision of other services (such as brokerage commissions or fees attributable to the provision of investment advisory or other services to your IRA) will be charged to the IRA.
Transfer Due to Divorce. If all or any part of your IRA is awarded to your spouse or former spouse in a divorce or legal separation proceeding, the amount so awarded will be treated as the spouse’s IRA (and may be transferred pursuant to a court-approved divorce decree or written legal separation agreement to another IRA of your spouse), and will not be considered a taxable distribution to you. A transfer is a tax-free direct movement of cash and/or property from one Traditional IRA to another.
I. RECHARACTERIZATIONS - Prior to 2018, certain Xxxx XXX conversions were permitted to be recharachterized. However, a Xxxx XXX conversion made after January 1, 2018 cannot be recharacterized. The amount you convert will be taxable in the year the distribution is made and the 10 percent penalty tax does not apply to the amount converted.
Transfer Due to Divorce. In the event of divorce, all or any portion of the balance in your Xxxx XXX may be directly transferred to a Xxxx XXX of your ex-spouse pursuant to the terms of a decree of divorce or document incident to same, as issued by a court of law and as authorized by same. The transfer is tax-free and not reportable for tax purposes. EXCESS CONTRIBUTIONS
Transfer Due to Divorce. Notwithstanding any other Article conferring authority on the Responsible Individual to notify, instruct, direct or provide approval to the Custodian with respect to the management of the Account, the Designate Beneficiary and the Designated Beneficiary’s spouse or former spouse may direct the Custodian in writing, on a form accept- able to the Custodian, to transfer the appropriate portion of the assets in the Account to the Xxxxxxxxx ESA of the spouse or former spouse pursuant to a divorce or separation instrument. It will be the Designated Beneficiary’s, and not the Custodian’s, responsibility to ensure that the transfer instructions are in accordance with terms of the decree of divorce, separation or dissolution of marriage.
