Federal Qualified Rollover Distribution definition

Federal Qualified Rollover Distribution means a distribution or transfer from an account that is deposited within 60 days of the distribution or transfer to: • An out-of-state 529 qualified tuition program for the benefit of the Beneficiary, provided the transfer does not occur within 12 months of the date of a previous transfer for the benefit of the Beneficiary. If an account owner has both an Age-Based Investment Option account and a Static/Individual Fund Investment Option account, or if an account owner has multiple Age-Based Investment Option accounts, a rollover to all accounts will be treated as a single rollover for purposes of the 12-month rule, if the rollovers are made prior to closing on the same trading day; • An out-of-state 529 qualified tuition program for the benefit of an individual who is a Member of the Family of the Beneficiary; or • An ABLE Account of the Beneficiary or a Member of the Family of the Beneficiary, subject to the contribution limits for ABLE Accounts (effective for periods prior to January 1, 2026).
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Federal Qualified Rollover Distribution means a Xxxx XXX Rollover or distribution or transfer from an Account that is deposited within sixty (60) days of the distribution or transfer to: • Another 529 qualified tuition program for the benefit of the Beneficiary, provided that any such transfer does not occur within twelve (12) months from the date of a previous transfer to a 529 qualified tuition program for the benefit of the Beneficiary; • Another account in any other 529 qualified tuition program, for the benefit of an individual who is a Member of the Family of the Beneficiary; or • Effective for periods prior to January 1, 2026, to an ABLE account of the Beneficiary or a Member of the Family of the Beneficiary, subject to the contribution limits for ABLE accounts. See “Can I Transfer My Account to Other Illinois Section 529 Programs?”.
Sample 1
Federal Qualified Rollover Distribution means a distribution or transfer from an account that is deposited within 60 days of the distribution or transfer to: • An out-of-state 529 qualified tuition program for the benefit of the Beneficiary, provided the transfer does not occur within 12 months of the date of a previous transfer for the benefit of the Beneficiary. If an account owner has both an Age-Based Investment Option account and a Static Investment Option account, a rollover to both accounts will be treated as a single rollover for purposes of the 12-month rule, if the rollovers are made prior to closing on the same trading day; • An out-of-state 529 qualified tuition program for the benefit of an individual who is a Member of the Family of the Beneficiary; or • An ABLE Account of the Beneficiary or a Member of the Family of the Beneficiary, subject to the contribution limits for ABLE Accounts (effective for periods prior to January 1, 2026).
Sample 1

Examples of Federal Qualified Rollover Distribution in a sentence

  • If the beneficiary changes, the transfer will be treated as a Federal Qualified Rollover Distribution only if the new beneficiary is a Member of the Family of the former beneficiary.

  • Such a rollover transaction will be treated as a Federal Qualified Rollover Distribution provided it has been more than twelve (12) months since any previous rollover for that Beneficiary or if you change the Beneficiary of the Account to a Member of the Family of the former Beneficiary.

  • Such a rollover will be treated as a Federal Qualified Rollover Distribution provided that if the beneficiary remains the same, it has been more than twelve (12) months since any previous rollover for that beneficiary.

  • The Company believes that its cash provided internally from operations together with its existing senior secured credit facility should enable it to meet its working capital and other cash needs for the foreseeable future.

  • In addition, prior to January 1, 2026, a transfer of money from the Account to an ABLE account for the Beneficiary or a Member of the Family of the Beneficiary, is a Federal Qualified Rollover Distribution provided that the transfer when added to all other contributions made to the ABLE account in the taxable year, does not exceed the limitation in Section 529A(b)(2)(B)(i) of the Code.

  • If the beneficiary stays the same, the transfer will be treated as a Federal Qualified Rollover Distribution as long as the transfer does not occur within twelve (12) months from the date of a previous rollover to another 529 qualified tuition program for the beneficiary.

  • If the beneficiary stays the same, the transfer will be treated as an income tax-free Federal Qualified Rollover Distribution as long as the transfer does not occur within twelve (12) months from the date of a previous rollover to another 529 qualified tuition program for the beneficiary.

  • Such a rollover transaction will be treated as an income tax-free Federal Qualified Rollover Distribution provided it has been more than twelve (12) months since any previous rollover for that Beneficiary or if the Beneficiary of the Account is changed to a Member of the Family of the current Beneficiary.

  • You may transfer money in your Plan account to an Enable Savings Plan account (or any ABLE program issued by the State of Nebraska) without adverse tax consequences, provided the transfer is a Federal Qualified Rollover Distribution.

  • If you change beneficiaries, the transfer will be treated as a Federal Qualified Rollover Distribution only if the new beneficiary is a Member of the Family of the former Beneficiary.


More Definitions of Federal Qualified Rollover Distribution

Federal Qualified Rollover Distribution means a distribution or transfer from an account that is deposited within 60 days of the distribution or transfer to: • An out-of-state 529 qualified tuition program for the benefit of the Beneficiary, provided the transfer does not occur within 12 months of the date of a previous transfer for the benefit of the Beneficiary; • An out-of-state 529 qualified tuition program for the benefit of an individual who is a Member of the Family of the Beneficiary; or • An ABLE Account of the Beneficiary or a Member of the Family of the Beneficiary, subject to the contribution limits for ABLE Accounts (effective for periods prior to January 1, 2026). Until August 23, 2021, if an account owner has both an Age-Based Investment Option account and a Static/Individual Fund Investment Option account or if an account owner has multiple Age-Based Investment Option accounts, a rollover to these accounts will be treated as a single rollover for purposes of the 12-month rule, if the rollovers are made prior to closing on the same trading day. Federal Qualified Withdrawal means a withdrawal from an account that is used to pay the Federal Qualified Higher Education Expenses of the Beneficiary. FINRA means the Financial Industry Regulatory Authority, Inc. Individual Fund Investment Option means an Investment Option that invests in a single Underlying Investment. Account owners do not own shares of the Underlying Investment but, rather, own an interest in the Investment Option offered by the Plan. You can choose to allocate your contributions among one or more Individual Fund Investment Options according to your investment objectives and risk tolerance. See “Part 9 – Individual Fund Investment Options.” Investment Option means any of the Investment Options available under the Plan. An account owner must designate an Investment Option or Options on the Enrollment Form for each account. The Plan currently has Age-Based, Static and Individual Fund Investment Options. See “Part 6 – Investment Options Overview.”
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Related to Federal Qualified Rollover Distribution

  • Eligible Rollover Distribution means any distribution of all or any portion of the balance to the credit of the Distributee, except that an Eligible Rollover Distribution does not include: (a) any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the Distributee, the joint lives (or joint life expectancies) of the Distributee and the Distributee's Beneficiary, or for a specified period of 10 years or more; (b) any distribution to the extent such distribution is required under Section 401(a)(9) of the Code; and (c) the portion of any distribution that is not includable in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities).

  • Rollover Distribution shall be defined as set forth in Section 5.05, herein."

  • Eligible Retirement Plan means an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the Distributee's Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving Spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity.

  • Qualified Nurse means a person who holds a valid registration from the Nursing Council of India or the Nursing Council of any state in India.

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.

  • Eligible Retiree means a retired employee of the GROUP who is receiving retirement benefits from GROUP and is entitled to Medicare part A and enrolled in Medicare part B. If this Agreement includes Group Plan 65, an Eligible Retiree who selects Group Plan 65 shall be eligible as an individual. Such Eligible Retiree shall not be deemed to have any dependents who can select Group Plan 65.

  • Highly Qualified status of the No Child Left Behind Act (NCLB) as applicable to the position/subject matter.

  • Qualified distribution means a distribution from a Roth Elective Deferral Account after the Participant has satisfied a five year tax holding period and has attained age 59½, died, or become Disabled, in accordance with Code Section 402A(d). The five year tax holding period is the period of five consecutive taxable years that begins with the first day of the first taxable year in which the Participant makes a designated Roth Elective Deferral under the Plan or to another retirement plan which amount was directly rolled over to the Plan, and ends when five consecutive taxable years have been completed.

  • Power Transfer Distribution Factor or “PTDF” shall mean a measure of the responsiveness or change in electrical loadings on Transmission Facilities due to a change in electric power transfer from one area to another, expressed in percent (up to 100%) of the change in power transfer in the pre-contingency configuration of a system under study.

  • Qualified Plan means a Pension Plan that is intended to be tax-qualified under Section 401(a) of the IRC.

  • Qualified relative, for purposes of item 5, means a spouse, parent, stepparent, brother, sister, stepbrother, stepsister, half-brother, half-sister, uncle, aunt, niece, nephew, first cousin, or any person denoted by the prefix "grand" or "great," or the spouse of any of the persons specified in this definition, even after the marriage has been terminated by death or dissolution.

  • Qualified veteran means a person who meets the following requirements:

  • Swap or Rollover means the interest added or deducted for holding a position open overnight.

  • Qualified Domestic Relations Order means any judgment, decree, or order, including approval of a property settlement agreement, that: