Common use of No Prohibited Transactions Clause in Contracts

No Prohibited Transactions. If your account stops being an IRA Definitions. The IRS Forms 5305 series agreement for traditional IRAs because you or your beneficiary engaged in a prohibited transaction, contains a definitions section. The definitions found in such section apply the account is treated as distributing all its assets to you at their fair to this agreement. The IRS refers to you as the depositor, and us as the market values on the first day of the year. If the total of those values custodian. References to "you," "your," and "IRA owner" will mean the is more than your basis in the IRA, you will have a taxable gain that depositor, and "we," "us," and "our" will mean the custodian. The terms is includible in your income.

No Prohibited Transactions. If your this account stops being an IRA regulations governing this IRA. because you or your beneficiary engaged in a prohibited transaction, Definitions. The IRS Forms 5305 series agreement for traditional IRAs because this account is treated as distributing all its assets to you or your beneficiary engaged in a prohibited transaction, at its fair contains a definitions section. The definitions found in such section apply market value on the account first day of the year. If the total value is treated as distributing all its assets to you at their fair more to this agreement. The IRS refers to you as the depositor, and us as the market values on than your basis in the first day of the year. If the total of those values IRA, you will have a taxable gain that is custodian. References to "you," "your," and "IRA owner" will mean the is more than your basis in the IRA, you will have a taxable gain that depositor, and "we," "us," and "our" will mean the custodian. The terms is includible in your income.