Common use of Conversion Contributions Clause in Contracts

Conversion Contributions. You may contribute all or part of a distribution from a Traditional IRA (or a distribution from a SEP IRA or a SIMPLE IRA) to a ▇▇▇▇ ▇▇▇ (this is called a "conver- sion contribution") by means of a rollover within 60 days or by means of a trustee-to-trustee transfer, provided the amount otherwise meets the requirements for rollover under Section 408(d)(3), except that the one-rollover-per-year limitation does not apply to conversion contributions. You must make the rollover contribution to the ▇▇▇▇ ▇▇▇ within 60 days of your receipt of the distribution from the Traditional IRA. Assets held in a SIMPLE IRA may be converted to a ▇▇▇▇ ▇▇▇ only after the expiration of the two-year period described in Section 72(t)(6) which begins on the date you first participated in a SIMPLE IRA plan maintained by your employer. ▇▇▇▇ IRAs may not receive conversion contributions or rollovers from qualified retirement plans.