Restrictions on the Fund. Neither you nor any beneficiary may sell, transfer, or pledge any interest in your Xxxx XXX in any manner whatsoever, except as provided by law or this agreement. The assets in your Xxxx XXX will not be responsible for the debts, contracts, or torts of any person entitled to distributions under this agreement.
Restrictions on the Fund. Neither you nor any beneficiary may sell, transfer, or pledge any interest in your IRA in any manner whatsoever, except as provided by law or this agreement. The assets in your IRA will not be responsible for the debts, contracts, or torts of any person entitled to distributions under this agreement.
Restrictions on the Fund. The IRA Owner’s interest in the balance in this IRA is nonforfeitable at all times. Neither the IRA Owner nor any Beneficiary(ies) may sell, transfer, or pledge any interest in this IRA in any manner whatsoever, except as provided by law or this Agreement. No part of this IRA may be invested in life insurance contracts, nor may the assets of this IRA be commingled with other property except in a common trust fund or common investment fund (within the meaning of Code Section 408(a)(5)). No part of this IRA may be invested in collectibles (within the meaning of Code Section 408(m)) except as otherwise permitted by Code Section 408(m)(3), which provides an exception for certain gold, silver, and platinum coins issued under the laws of any state, and certain bullion. The assets in this IRA shall not be responsible for the debts, contracts, or torts of any person entitled to distributions under this Agreement.
Restrictions on the Fund. Neither you nor any beneficiary may sell, transfer, or pledge any interest in your HSA in any manner whatsoever, except as provided by law or this agreement. The assets in your HSA will not be responsible for the debts, contracts, or torts of any person entitled to distributions under this agreement.
Restrictions on the Fund. Neither the responsible individual, the designated beneficiary (nor anyone acting on behalf of the designated beneficiary), the depositor nor any contributor may sell, transfer or pledge any interest in the Xxxxxxxxx ESA in any manner whatsoever, except as provided by law or this agreement. The assets in the Xxxxxxxxx ESA will not be responsible for the debts, contracts, or torts of the responsible individual, the designated beneficiary, the depositor, or any person entitled to distributions under this agreement.
Restrictions on the Fund. Neither you nor any successor beneficiary may sell, transfer, or pledge any interest in your inherited IRA in any manner whatsoever, except as provided by law or this agreement. The assets in your inherited IRA will not be responsible for the debts, contracts, or torts of any person entitled to distributions under this agreement.
Restrictions on the Fund. Neither you nor any successor beneficiary may sell, transfer, or pledge any interest in your inherited Xxxx XXX in any manner whatsoever, except as provided by law or this agreement. The assets in your inherited Xxxx XXX will not be responsible for the debts, contracts, or torts of any person entitled to distributions under this agreement.
Restrictions on the Fund. The assets in the Participant’s Account shall not be responsible for the debts, contracts or torts of any person entitled to distributions under this Agreement.
Restrictions on the Fund. The XXX Owner’s interest in the balance in this XXX is nonforfeitable at all times. Neither the XXX Owner nor any Beneficiary(ies) may sell, transfer, or pledge any interest in this XXX in any manner whatsoever, except as provided by law or this Agreement. No part of this XXX may be invested in life insurance contracts, nor may the assets of this XXX be commingled with other property except in a common trust fund or common investment fund (within the meaning of Code Section 408(a)(5)). No part of this XXX may be invested in collectibles (within the meaning of Code Section 408(m)) except as otherwise permitted by Code Section 408(m)(3), which provides an exception for certain gold, silver, and platinum coins issued under the laws of any state, and certain bullion. The assets in this XXX shall not be responsible for the debts, contracts, or torts of any person entitled to distributions under this Agreement.
Restrictions on the Fund. Neither you nor any successor beneficiary may sell, transfer, or pledge any interest in your inherited Xxxx XXX in any manner whatsoever, except as provided by law or this agreement. The assets in your inherited Xxxx XXX will not be responsible for the Section references are to the Internal Revenue Code unless otherwise noted. PURPOSE OF FORM Form 5305-RA is a model custodial account agreement that meets the requirements of section 408A and has been pre-approved by the IRS. A Xxxx individual retirement account (Xxxx XXX) is established after the form is fully executed by both the individual (depositor) and the custodian. This account must be created in the United States for the exclusive benefit of the depositor and his or her beneficiaries. Do not file Form 5305-RA with the IRS. Instead, keep it with your records. Unlike contributions to Traditional individual retirement arrangements, contributions to a Xxxx XXX are not deductible from the depositor’s gross income; and distributions after 5 years that are made when the depositor is 59½ years of age or older or on account of death, disability, or the purchase of a home by a first-time homebuyer (limited to $10,000), are not includible in gross income. For more information on Xxxx IRAs, including the required disclosures the custodian must give the depositor, see Pub. 590, Individual Retirement Arrangements (IRAs).
