Common use of Xxxx XXX-to-Xxxx XXX Rollovers Clause in Contracts

Xxxx XXX-to-Xxxx XXX Rollovers. You may “roll over” all or part of a distribution from a Xxxx XXX to another Xxxx XXX. The transaction must be completed within 60 days of your receipt of the distribution from the Xxxx XXX to avoid being taxed on the taxable portion, if any, of the distribution. In addition, you may not have completed another Xxxx XXX to Xxxx XXX rollover from the distributing Xxxx XXX during the 12 months preceding the date you receive the distribution. Further, you may roll over the same dollars or assets only once every 12 months. You may also direct the Custodian to transfer investments directly from one Xxxx XXX to another Xxxx XXX, as long as you do not directly receive a distribution from the Xxxx XXX. There is no restriction on the frequency with which transfer contributions may be made. Accordingly, transfers may be effected more than once in a specified 12-month period.