Distributions During Lifetime. (a) Notwithstanding any provision of this Agreement to the contrary, the distribution of the Participant’s interest in the Custodial Account shall be made in accordance with the requirements of Code Section 408(a)(6) and the regulations thereunder, the provisions of which are herein incorporated by reference. If distributions are made from an annuity contract purchased from an insurance company, distributions thereunder must satisfy the requirements of Q&A-4 of Section 1.401(a)(9)-6 of the Income Tax Regulations, rather than paragraphs (b), (c) and (d) below and Section 5.
Distributions During Lifetime. No amount is required to be distributed from this Custodial Account prior to the Participant's death. If this is an inherited IRA within the meaning of Code Section 408(d)(3)(C), this Section does not apply. The Participant may, at any time, request a distribution of part or all of the balance in his/her Custodial Account. The request shall be made to the Custodian in a form, manner and medium acceptable to the Custodian. The Custodian will confirm to the Participant the redemption of Shares made pursuant to any distribution from the Custodial Account.
Distributions During Lifetime. (a) Notwithstanding any provision of this SIMPLE XXX to the contrary, the distribution of the Participant’s interest in the Custodial Account shall be made in accordance with the requirements of Code Section 408(a)(6) and the regulations thereunder, the provisions of which are herein incorporated by reference. If distributions are made from an annuity contract purchased from an insurance company, distributions thereunder must satisfy the requirements of Q&A-4 of Section 1.401(a)(9)-6 of the Income Tax Regulations, rather than paragraphs (b), (c) and (d) below and Section 5.2. The required minimum distributions calculated for this SIMPLE XXX may be withdrawn from another SIMPLE XXX of the Participant in accordance with Q&A-9 of Section1.408-8 of the Income Tax Regulations. If this is an inherited XXX within the meaning of Code Section 408(d)(3)(C), the preceding sentence and paragraphs (b), (c), and (d) below do not apply.
(b) The entire value of the account of the Participant for whose benefit the Custodial Account is maintained will commence to be distributed no later than the first day of April following the calendar year in which such Participant attains age 70½ (the “required beginning date”) over the life of such Participant or the lives of such Participant and his or her Beneficiary.
(c) The amount to be distributed each year, beginning with the calendar year in which the Participant attains age 70½ and continuing through the year of death, shall not be less than the quotient obtained by dividing the value of the SIMPLE XXX (as determined under Section 5.2(c)) as of the end of the preceding year by the distribution period in the Uniform Lifetime Table in Q&A-2 of Section1.401(a)(9)-9 of the Income Tax Regulations, using the Participant’s age as of his or her birthday in the year. However, if the Participant’s sole Beneficiary for the entire year is his or her surviving spouse and such spouse is more than 10 years younger than the Participant, then the distribution period is determined under the Joint and Last Survivor Table in Q&A-3 of Section 1.401(a)(9)-9, using the ages as of the Participant’s and spouse’s birthdays in the year.
(d) The required minimum distribution for the year the Participant attains age 70½ can be made as late as April 1 of the following year. The required minimum distribution for any other year must be made by the end of such year.
(e) The Participant may, at any time, request a distribution of part or all of the balance in hi...
Distributions During Lifetime
