Maximum Contribution Limits Clause Samples
The Maximum Contribution Limits clause sets a cap on the amount of money or resources that a party can contribute under an agreement. In practice, this clause specifies a fixed dollar amount or percentage, ensuring that no party is required or permitted to contribute more than the stated maximum, regardless of project needs or unforeseen circumstances. Its core function is to provide financial certainty and protect parties from unexpected or unlimited financial obligations.
Maximum Contribution Limits. Your regular (including catch-up) homebuyer distribution where there is a delay or cancellation in the ▇▇▇▇ ▇▇▇ contributions are limited to the lesser of 100 percent of purchase or construction of the home. You are limited to one rollover your and your spouse's compensation if filing jointly or the dollar per 1-year (12-month) period. You may only roll over one IRA amounts set forth on the following chart: distribution per 1-year period aggregated between all of your IRAs. Contribution Tax Year Regular Contribution Limit Catch-Up Contribution Limit Total Contribution Limit
Maximum Contribution Limits. Your regular (including catch-up) ▇▇▇▇ ▇▇▇ contributions are limited to the lesser of 100 percent of your and/or your spouse's compensation or the dollar amounts set forth on the following chart. Contribution Tax Year Regular Contribution Limit Catch-Up Contribution Limit Total Contribution Limit
Maximum Contribution Limits. Your regular (including catch-up) ▇▇▇▇ ▇▇▇ contributions are limited to the lesser of 100 percent of your and your spouse's compensation if filing jointly or the dollar amounts set forth on the following chart: Contribution Tax Year Regular Contribution Limit Catch-Up Contribution Limit Total Contribution Limit
2. ▇▇▇▇ ▇▇▇-to-▇▇▇▇ ▇▇▇ Rollovers. A ▇▇▇▇ ▇▇▇ rollover is another way to move assets tax-free between ▇▇▇▇ IRAs. You may roll over all or a portion of your ▇▇▇▇ ▇▇▇ assets by taking a distribution from a ▇▇▇▇ ▇▇▇ and recontributing part or all of it as a rollover contribution into the same or another ▇▇▇▇ ▇▇▇. A rollover contribution is irrevocable. You must report your ▇▇▇▇ ▇▇▇ rollover to the IRS on your federal income tax return. Your contribution may only be designated as a rollover if the ▇▇▇▇ ▇▇▇ distribution is deposited within 60 calendar days following the date you receive the distributed assets. Any portion not rolled over will be subject to the ▇▇▇▇ ▇▇▇ ordering rules to determine income taxes and penalty taxes. The 60-day period may be extended to 120 days for a
3. Extension of the 60-Day Period. The Secretary of the Treasury may extend the 60-day period for completing rollovers in certain situations such as casualty, disaster, or other events beyond the
Maximum Contribution Limits. In no event shall the contributions to the Account for a tax year on behalf of a Employee/Participant exceed the maximum allowable deferrals permitted under current law or regulation.
a. The maximum salary deferral made during a tax year on behalf of a Employee/Participant, when aggregated with other salary deferral amounts made through the Employer/Payor (or controlled group of Employers/Payors under IRC 414(b), (c), (m) or (o)), shall not exceed the lesser of the maximum permitted amount for a Employee/Participant under Sections 403(b)(2) and 415(c) of the Code for that year.
b. The maximum of all salary deferrals made during the Employee/Participant's tax year shall not exceed the limitations set forth in Section 402(g) of the Code.
c. The maximum salary deferrals may be based on a valid election by the Employee/Participant to use available special increase options.
Maximum Contribution Limits. It is the responsibility of the account owner to determine whether contributions to this HSA have exceeded the maximum annual contribution limit described in Article II. If contributions to this HSA exceed the maximum annual contribution limit, the account owner shall notify the custodian that there exist excess contributions to the HSA. It is the responsibility of the account owner to request the withdrawal of the excess contribution and any net income attributable to such excess contribution.
Maximum Contribution Limits. Company will create and maintain a database of information provided by Employer and Employer’s employees to establish and monitor the maximum allowable contribution (“MAC”) limit for each participant in the Plans, and make all reasonable efforts to prevent excess deferrals during the tax year. Company will coordinate procedures to properly correct contributions made in excess of MAC limits, if any, with the participant and investment option provider. The MAC shall be used to determine the applicable contribution limits under IRC Sections 457(b), 403(b), 402(g), and 415(c). Employer, and where applicable, the employee of the Employer participating in the Plans described above, shall provide to Company all information necessary for Company to establish the MAC limits, including, but not limited to, information described in Article 2.1. Company will rely exclusively on such information provided by the Employer and employee in establishing allowable limits and performing any required calculations.