Common use of Qualified Rollover Contributions Clause in Contracts

Qualified Rollover Contributions. If current eligibility requirements as defined by the Code and Regulations are met, spouse, nonspouse, or qualified trust beneficiary may make a qualified rollover contribution to a ▇▇▇▇ ▇▇▇ from an eligible retirement plan other than a ▇▇▇▇ ▇▇▇. A qualified rollover contribution must be sent in a direct rollover from the distributing plan to the Inherited ▇▇▇▇ ▇▇▇. The beneficiary may not have constructive receipt of the assets. For assistance in determining qualified rollover contribution eligibility and the tax consequences of such a transaction, consult a tax advisor. DISTRIBUTIONS – DEATH OF IRA OWNER ON OR AFTER JANUARY 1, 2020” in this document for more information. MISCELLANEOUS

Appears in 2 contracts

Sources: Custodial Agreement, Custodial Agreement