What If I Engage in a Prohibited Transaction. If you engage in a “prohibited transaction,” as defined in Section 4975 of the Internal Revenue Code, your account could lose its tax-favored status. Examples of prohibited transactions are: a. the sale, exchange, or leasing of any property between you and your account; b. the lending of money or other extensions of credit between you and your account; c. the furnishing of goods, services, or facilities between you and your account.
Appears in 25 contracts
Samples: Custodial Account Agreement, Custodial Account Agreement, Custodial Account Agreement
What If I Engage in a Prohibited Transaction. If you engage in a “prohibited transaction,” as defined in Section 4975 of the Internal Revenue Code, your account could lose its tax-favored status. Examples of prohibited transactions are:
a. (a) the sale, exchange, or leasing of any property between you and your account;,
b. (b) the lending of money or other extensions of credit between you and your account;,
c. (c) the furnishing of goods, services, or facilities between you and your account.
Appears in 1 contract
Samples: Individual Retirement Account Disclosure Statement & Custodial Account Agreement
