Qualified Rollover Contribution is a rollover contribution that meets the requirements of Code Section 408(d)(3), except the one-rollover-per-year rule of Code Section 408(d)(3)(B) does not apply if the rollover contribution is from an IRA other than a Xxxx XXX (a “non-Xxxx XXX”). Contributions may be limited as described in paragraph 19.10(b).
Qualified Rollover Contribution means a rollover contribution from another XXXX XXX, a Designated Xxxx Account, or from a non-XXXX XXX that meets the requirements of Section 408(d)(3) of the Code, except that the limit to one rollover per year in Section 408(d)(3)(B) of the Code does not apply if the rollover is from a non-XXXX XXX.
(1) A rollover from a SIMPLE IRA during the first two years since the Owner began to participate in the SIMPLE IRA plan is not a Qualified Rollover Contribution.
(2) A rollover from a non-XXXX XXX is not a Qualified Rollover Contribution if, for that taxable year, the Owner is: (I) married and files a separate federal income tax return; or (II) the Owner is single and has Modified AGI in excess of $100,000; or (III) the Owner is married and files a joint federal income tax return and the Owner and the Owner’s spouse have Modified AGI in excess of $100,000. For purposes of the preceding sentence, if the Owner is married but the Owner and the Owner’s spouse live apart at all times during a taxable year and file separate federal income tax returns for that taxable year, then for that taxable year the Owner (and the Owner’s Spouse) is not treated as married.
Qualified Rollover Contribution. This term includes: (a) Rollovers be- tween Xxxx XXX accounts; (b) Traditional IRA converted to a Xxxx XXX; (c) Direct Rollover from an Employer’s plan of funds other than a Designated Xxxx Contribution Account; and (d) a rollover from a Designated Xxxx Con- tribution Account to a Xxxx XXX. Qualified Rollover Contributions must meet the general IRA rollover rules, except that the 12-month rollover restriction does not apply to rollovers (conversions) between a traditional IRA and a Xxxx XXX. However, the 12-month rule does apply to rollovers between Xxxx IRAs. Beginning in 2008, rollovers from employer-sponsored plans, such Rollovers From Employer-Sponsored Plans: The rules discussed in this
Examples of Qualified Rollover Contribution in a sentence
Except in the case of a Qualified Rollover Contribution (described in paragraph 3(c) below) or a recharacterization (defined in paragraph 3(e) below), no Contribution shall be allowed into the Contract unless it is in cash, and for any year the total of such Contributions to all the individual Owner’s Roth IRAs for such year does not exceed the lesser of the Owner’s Compensation for such year or $5,000.
A Qualified Rollover Contribution can be made to a Roth IRA and is a distribution from an IRA that meets the requirements of section 408(d)(3), a rollover from a designated Roth account described in section 402A, or a rollover from an eligible retirement plan as described in section 402(c)(8)(B).
A Contribution permitted under the Contract may include a Qualified Rollover Contribution, a non-taxable transfer from another Roth IRA, a Recharacterization, and cash.
A Qualified Rollover Contribution can be made to a Xxxx XXX and is a distribution from an XXX that meets the requirements of section 408(d)(3), a rollover from a designated Xxxx account described in section 402A, or a rollover from an eligible retirement plan as described in section 402(c)(8)(B).
A premature distribution may not be eligible for Qualified Rollover Contribution treatment.
More Definitions of Qualified Rollover Contribution
Qualified Rollover Contribution means a rollover contribution from an IRA that meets the requirements of Section 408(d)(3) of the Code, and for any taxable year after December 31, 2005, shall
Qualified Rollover Contribution refers to the deposit into a Xxxx XXX (in a manner that meets the requirements of section 408A(e) of the Code), of a distribution or conversion amount issued from an XXX or eligible retirement plan. It also refers to a rollover into a Xxxx XXX of a distribution from another (or the same) Xxxx XXX. Throughout the remainder of this section, the terms “rollover” and “conversion” will be used interchangeably and will be deemed to refer to a Qualified Rollover Contribution. For purposes of this section, the use of the term “XXX” will be deemed to include a SEP XXX and a SIMPLE XXX, unless otherwise noted, except that in the case of a SIMPLE XXX, no conversion can take place until after the close of the two-year period beginning with a Participant’s First Date of Participation in an Employer’s SIMPLE XXX Plan. General Provisions: You may roll over or convert an amount from an XXX to a Xxxx XXX. You may not roll over any distribution from, or convert any amount in, an XXX to a Xxxx XXX that represents your Required Minimum Distribution (“RMD”) obligation for the year. (RMDs are distributions that must begin to be distributed from IRAs and SIMPLE IRAs, generally beginning with the year a Participant attains age 72 (70½ if born before July 1, 1949).) Instead, you may only roll over or convert the amount that exceeds your RMD obligation for the year to a Xxxx XXX. Accomplishing a Rollover or Conversion to a Xxxx XXX: There are three ways that an amount in an XXX can be rolled over or converted to a Xxxx XXX, as follows:
Qualified Rollover Contribution means a rollover Contribution of a distribution from an IRA that meets the requirements of Section 408(d)(3) of the Code, except the one-rollover-per-year rule of Section 408(d)(3)(B) of the Code does not apply if the rollover Contribution is from an IRA other than a Roth IRA; i.e. a non-Roth IRA. A Qualified Rollover Contribution includes a rollover from a designated Roth account described in Section 402A of the Code and from an eligible retirement plan described in Section 402(c)(8)(B) of the Code, and also includes other rollover payments specifically authorized by statutes. 165898-15
Qualified Rollover Contribution means a rollover contribution from another XXXX XXX or from a non-XXXX XXX that meets the requirements of Section 408(d)(3) of the Code, except that the limit to one rollover per year in Section 408(d)(3)(B) of the Code does not apply if the rollover is from a non-XXXX XXX.
(1) A rollover from a SIMPLE IRA during the first two years since the Owner began to participate in the SIMPLE IRA plan is not a Qualified Rollover Contribution.
(2) A rollover from a non-XXXX XXX is not a Qualified Rollover Contribution if, for that taxable year, the Owner is: (I) married and files a separate federal income tax return; or (II) the Owner is single and has Modified AGI in excess of $100,000; or (III) the Owner is married and files a joint federal income tax return and the Owner and the Owner’s spouse have Modified AGI in excess of $100,000. For purposes of the preceding sentence, if the Owner is married but the Owner and the Owner’s spouse live apart at all times during a taxable year and file separate federal income tax returns for that taxable year, then for that taxable year the Owner (and the Owner’s spouse) is not treated as married.
Qualified Rollover Contribution means a rollover contribution of a distribution from an IRA that meets the requirements of Code Section 408(d)(3), except the one-rollover-per-year rule of Section 408(d)(3)(B) does not apply if the rollover contribution is from an IRA other than a Roth IRA (a “nonRoth IRA”). For taxable years beginning after 2005, a qualified rollover contribution includes a rollover from a designated Roth account described in Code Section 402A; and for taxable years beginning after 2007, a qualified rollover contribution also includes a rollover from an eligible retirement plan described in Section 402(c)(8)(B).
Qualified Rollover Contribution refers to the deposit into a Xxxx XXX (in a manner that meets the requirements of section 408A(e) of the Code), of a distribution or conversion amount issued from an IRA. It also refers to a rollover into a Xxxx XXX of a distribution from another (or the same) Xxxx XXX. Throughout the remainder of this Disclosure Statement, the terms "rollover" and "conversion" will be used interchangeably and will be deemed to refer to a Qualified Rollover Contribution. For purposes of this discussion, the use of the term "IRA" will be deemed to include a SEP IRA and a SIMPLE IRA, unless General Provisions: You may roll over or convert an amount from an IRA to a Xxxx XXX if your MAGI, as previously defined, or joint MAGI if married and filing taxes jointly, is $100,000 or less for the taxable year in which you are performing the conversion or rollover. If you are married and filing taxes separately, you are not eligible to roll over or convert any amount in an IRA to a Xxxx XXX, regardless of your MAGI. Accomplishing a Rollover or Conversion to a Xxxx XXX: There are three ways that an amount in an IRA can be rolled over or converted to a Xxxx XXX, as follows:
Qualified Rollover Contribution means a transfer into this Plan, either direct or through the Employee by means of (1) an Individual Retirement Account (2) a distribution or transfer from another pension, profit-sharing or stock bonus plan qualified under Code Section 401(a), or (3) a distribution or transfer from a Code Section 403(a), 403(b), or 457(b) Plan pursuant to the provisions of Plan Section 5.8.