Common use of Withholding Election (Substitute W-4P Clause in Contracts

Withholding Election (Substitute W-4P. Traditional and SEP XXX: The distributions you receive from your XXX are subject to Federal income tax withholding unless you waive withholding. You may waive withholding on your XXX distribution by returning a signed and dated IRS Form W-4P, Withholding Certificate for Pension or Annuity Payments, or substitute Form W-4P to the Custodian. Withholding will apply to the total amount of the distribution, whether taxable or not. If you waive withholding on your XXX distribution, or if you do not have enough Federal income tax withheld from your XXX distribution, you may be responsible for payment of estimated tax. You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are not sufficient. You are responsible for determining and paying all Federal, and if applicable, state and local taxes on distributions from all IRAs you own. If you do not waive withholding or elect an alternative withholding amount, ten percent will be withheld from your nonperiodic XXX distribution. Your election is valid until you revoke it. You may change your withholding election by completing another Form W-4P or substitute. If you are a non-resident alien you may not use Form W-4P to withhold income tax or to waive withholding.

Withholding Election (Substitute W-4P. Traditional and SEP XXXIRA: The distributions you receive from your XXX IRA are subject to Federal income tax withholding unless you waive withholding. You may waive withholding on your XXX IRA distribution by returning a signed and dated IRS Form W-4P, Withholding Certificate for Pension or Annuity Payments, or substitute Form W-4P to the Custodian. Withholding will apply to the total amount of the distribution, whether taxable or not. If you waive withholding on your XXX IRA distribution, or if you do not have enough Federal income tax withheld from your XXX IRA distribution, you may be responsible for payment of estimated tax. You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are not sufficient. You are responsible for determining and paying all Federal, and if applicable, state and local taxes on distributions from all IRAs you own. If you do not waive withholding or elect an alternative withholding amount, ten percent will be withheld from your nonperiodic XXX IRA distribution. Your election is valid until you revoke it. You may change your withholding election by completing Additional Disclosures another Form W-4P or substitute. If you are a non-resident alien you may not use Form W-4P to withhold income tax or to waive withholding.

Withholding Election (Substitute W-4P. Traditional and SEP XXX: The distributions you receive from your XXX are subject to Federal income tax withholding unless you waive withholding. You may waive withholding on your XXX distribution by returning a signed and dated IRS Form W-4P, Withholding Certificate for Pension or Annuity Payments, or substitute Form W-4P to the Custodian. Withholding will apply to the total amount of the distribution, whether taxable or not. If you waive withholding on your XXX distribution, or if you do not have enough Federal income tax withheld from your XXX distribution, you may be responsible for payment of estimated tax. You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are not sufficient. You are responsible for determining and paying all Federal, and if applicable, state and local taxes on distributions from all IRAs you own. If you do not waive withholding or elect an alternative withholding amount, ten percent will be withheld from your nonperiodic XXX distribution. Your election is valid until you revoke it. You may change your withholding election by completing another Form W-4P or substitute. If you are a non-resident alien you may not use Form W-4P to withhold income tax or to waive withholding.Form