Examples of Nonqualified withdrawal in a sentence

An Account Oowner making a Withdrawal shall have the sole obligation to (i) determine whether the Withdrawal is a Qualified withdrawal or a Nonqualified withdrawal; (ii) make any required report to the Internal Revenue Service and any applicable state tax authority regarding the Withdrawal and the amounts of any earnings included therein; and (iii) pay any applicable federal or state income taxes or penalty taxes that may apply.
Nonqualified withdrawal amounts stand alone as income and cannot be used to offset net operating losses.
An Account Owner making a Withdrawal shall have the sole obligation to (i) determine whether the Withdrawal is a Qualified withdrawal or a Nonqualified withdrawal; (ii) make any required report to the Internal Revenue Service and any applicable state tax authority regarding the Withdrawal and the amounts of any earnings included therein; and (iii) pay any applicable federal or state income taxes or penalty taxes that may apply.

More Definitions of Nonqualified withdrawal

Nonqualified withdrawal means a withdrawal from an

Nonqualified withdrawal means a with- drawal from an account that is not a qualified with- drawal.

Nonqualified withdrawal means a withdrawal from an account that is not a qualified withdrawal or a qualified rollover.

Nonqualified withdrawal means a withdrawal from the account that is not:

Nonqualified withdrawal means any withdrawal that does not meet the requirements of being a qualified withdrawal or a rollover. Expenses will not be qualified disability expenses if they are incurred at a time when an account owner is not an eligible individual.

Nonqualified withdrawal means a withdrawal from an account other than a qualified withdrawal, a withdrawal made as the result of the death or disability of the designated beneficiary of an account, a withdrawal made as a result of the beneficiary's receipt of a scholarship, or a rollover or change of designated beneficiary.

Nonqualified withdrawal means a withdrawal from an account but does not mean: