Conduit IRA definition

Conduit IRA means an individual retirement account described in Section 408(a) of the Code, provided that all amounts in said individual retirement account (including earnings) are attributable to rollover contributions received from the Fund or another qualified plan sponsored by an employer that also sponsored the Fund or the Coral Energy Services, LLC Savings Plan at the time the rollover contributions were received by the individual retirement account.
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Examples of Conduit IRA in a sentence

  • Conduit IRA: You may use your IRA as a conduit to temporarily hold amounts you receive in an eligible rollover distribution from an employer’s retirement plan.

  • A direct rollover (or rollover within 60 days) of any eligible rollover distribution may generally be treated as a "Conduit IRA", provided that a separate IRA is established for purposes of retaining the ability to later roll these funds back into an employer's plan that accepts the rollover.

  • In addition to pre-tax distributions from a qualified plan described in Code Section 401(a) or 403(a) or a Conduit IRA containing these assets, the Plan, if an Eligible Rollover Distribution, (select one for each row): x (1) distributions of employee after-tax contributions from a qualified plan described in Code Section 401(a) or 403(a), provided that such amounts are transferred in a direct trustee-to-trustee transfer described in Code Section 402(c)(2)(A).

  • On the application form, you may elect to set up a Conduit IRA for the transferred funds.

  • It is your responsibility to maintain the IRA as a Conduit IRA, if you so desire.

  • For purposes of this section only, “Qualified Retirement Plan” shall mean any of the following that permit direct rollovers in accordance with section 401(a)(31) of the Code: (1) a Conduit IRA; (2) the Shell Pension Plan; and (3) the Alliance Pension Plan.

  • The Current Custodian (check one)* □ Traditional IRA □ Conduit IRA (direct rollover from a qualified plan or 403(b)) □ ▇▇▇▇ Contributory Account (Account start date (MM/DD/YYYY)) □ ▇▇▇▇ Converted Account (Account start date (MM/DD/YYYY)) □ SEP IRA □ SAR-SEP IRA (For plans established prior to 1/1/97) □ Employers Qualified Plan, 403(b), 401(k), etc.

  • The Participant hereby consents to the jurisdiction of the courts of Marion County within the State for any proceeding in connection with this Origination Agreement.

  • Mail to Baron Funds, P.O. Box 419946, Kansas City, MO 64141-6946 TYPE OF ACCOUNT TO BE TRANSFERRED (CHECK ONE)* o IRA o Conduit IRA (direct rollover from my current qualified plan or 403(b)) ▇ ▇▇▇▇ Contributory Account (Account start date --/--/--) ▇ ▇▇▇▇ Conversion Account (Account start date --/--/--) o SEP IRA o SARSEP IRA (For plans established prior to 1/1/97) o SIMPLE IRA transfer to a SIMPLE IRA o Employers Qualified Plan, 403(b), 401(k), etc..

  • A Conduit IRA is designed to maintain certain IRA assets separate from other assets to preserve rollover options in the case of rollovers and transfers from a retirement plan.

Related to Conduit IRA

  • Conduit Credit Enhancer shall have the meaning assigned to such term in Section 14(d).

  • Conduit Purchaser means each commercial paper conduit that is or becomes a party to this Agreement in the capacity of a “Conduit Purchaser”.

  • Conduit Assignee means, with respect to any Conduit Investor, any commercial paper conduit whose Commercial Paper is rated by at least two of the Specified Rating Agencies and is rated at least “A-1” from Standard & Poor’s, “P-1” from ▇▇▇▇▇’▇ and/or “F1” from Fitch, as applicable, that is administered by the Funding Agent with respect to such Conduit Investor or any Affiliate of such Funding Agent, in each case, designated by such Funding Agent to accept an assignment from such Conduit Investor of the Investor Group Principal Amount or a portion thereof with respect to such Conduit Investor pursuant to Section 9.17(b).

  • Conduit Lender any special purpose corporation organized and administered by any Lender for the purpose of making Loans otherwise required to be made by such Lender and designated by such Lender in a written instrument; provided, that the designation by any Lender of a Conduit Lender shall not relieve the designating Lender of any of its obligations to fund a Loan under this Agreement if, for any reason, its Conduit Lender fails to fund any such Loan, and the designating Lender (and not the Conduit Lender) shall have the sole right and responsibility to deliver all consents and waivers required or requested under this Agreement with respect to its Conduit Lender, and provided, further, that no Conduit Lender shall (a) be entitled to receive any greater amount pursuant to Section 2.18, 2.19, 2.20 or 10.5 than the designating Lender would have been entitled to receive in respect of the extensions of credit made by such Conduit Lender or (b) be deemed to have any Commitment.

  • CP Conduit means any limited-purpose entity established to use the direct or indirect proceeds of the issuance of Commercial Paper Notes to finance financial assets.