Specific Instructions. (a) In regards to Article I of this Agreement, the Participant may be subject to a 6% tax on excess contributions if (1) contributions to other individual retirement arrangements of the Participant have been made for the same tax year, (2) the Participant’s adjusted gross income exceeds the applicable limits in Article II for the tax year, or (3) the Participant’ and spouse’s compensation is less than the amount contributed by or on behalf of them for the tax year. The Participant should see the disclosure statement Pub. 590- A, Contributions to Individual Retirement Arrangement (IRAs) and Pub. 590-B, Distributions from to Individual Retirement Arrangement (IRAs) for more information.
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Samples: Inherited Ira Adoption Agreement, wbiinvestments.com, wbiinvestments.com
Specific Instructions. (a) a. In regards to Article I of this Agreement, the Participant may be subject to a 6% tax on excess contributions if (1) contributions to other individual retirement arrangements of the Participant have been made for the same tax year, (2) the Participant’s adjusted gross income exceeds the applicable limits in Article II for the tax year, or (3) the Participant’ and spouse’s compensation is less than the amount contributed by or on behalf of them for the tax year. The Participant should see the disclosure statement Pub. 590- A, Contributions to Individual Retirement Arrangement (IRAs) and Pub. 590-B, Distributions from to Individual Retirement Arrangement (IRAs) for more information.
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Samples: d1xhgr640tdb4k.cloudfront.net