IRA Account definition

IRA Account means Individual Retirement Account.

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IRA Account means an account in which are held individual retirement account ("IRA") contributions by former participants in a plan which has been merged into the Plan, and the investment results thereof.

IRA Account means the account established under the Contract for the Owner in accordance with Section 408(b) of the Code.

Examples of IRA Account in a sentence

• Also, as noted above, effective as of January 1, 2020, for any Traditional IRA Account that becomes dormant and subject to escheatment under state unclaimed property law, the Internal Revenue Service requires reporting of the amount escheated on IRS Form 1099R and income tax withholding at the time of escheatment to the state.

• An IRA Account is a form of retirement account established under 26 USC § 408.

• This fee is owed and due for each full and partial calendar year that the IRA Account is open.

• Effective as of January 1, 2020, for any Traditional IRA Account that becomes dormant and subject to escheatment under state unclaimed property law, the Internal Revenue Service requires reporting of the amount escheated on IRS Form 1099R and income tax withholding at the time of escheatment to the state.

• The participant may pay the fee with funds other than those in the IRA Account ("non-custodial funds").

• If the fee for a calendar year is not paid by the participant from non-custodial funds by the date reasonably designated by the Custodian or prior to closing the IRA Account, the Custodian is authorized to deduct the fee from funds in the IRA Account at any time immediately after such payment due date or immediately after receiving instructions to close the IRA Account.

• I agree that the Custodian may amend (add to, delete from or revise) any term of the Full Agreement at any time by notice to me and that my sole remedy if I disagree with the amendment is to transfer funds in the IRA Account to another custodian.

• Article VIII, Section 23 of the Traditional IRA Custodial Account Agreement and Article IX, Section 23 of the ▇▇▇▇ ▇▇▇ Custodial Account Agreement authorize the Custodian to take or to omit to take certain actions in the event assets or property in my IRA Account are liquidated and the Custodian does not receive timely instructions it can reasonably or practicably carry out and I agree to the terms of both Sections 23.

• IRA Account which is invested in widely held or publicly traded securities, such as Stocks, Bonds, Mutual Funds and/or Fixed Income instruments.

• All funds in the IRA Account (including earnings) shall be invested in accordance with your directions and in compliance with this Agreement.

More Definitions of IRA Account

IRA Account means a Participant’s interest in the Plan attributable to his IRA Account in the BNI Plan as of December 31, 1996.

IRA Account. A custodial or trust account which holds IRA or ▇▇▇▇ ▇▇▇ retirement assets pursuant to the provisions of Sections 408(a) and 408A of the Internal Revenue Code. Due Proof of Death: Due Proof of Death is satisfied when we receive all of the following in Good Order: a death certificate or legal documentation and all representations required or mandated by applicable law or regulation in relation to a continuation of the Contract, Insured Income Payments or Annuity Payments after death. Eligible Account Assets: An investment that we designate as eligible for coverage under this Contract. After the Contract is issued, we may designate additional investments as Eligible Account Assets. Once we designate an investment as an Eligible Account Asset, we, at any time in the future, may determine that such investment is no longer an Eligible Account Asset. Excess Withdrawal: All or any portion of an Income Withdrawal that exceeds the Annual Income Amount for that particular Contract Year and any Unused Annual Income Amount. If the Required Minimum Distribution amount in any Contract Year is greater than the Annual Income Amount plus any Unused Annual Income Amount, then only the amount of Income Withdrawals you make that exceed the Required Minimum Distribution amount calculated by us, if any, will be treated as Excess Withdrawal. Financial Firm: The entity you choose to hold your Account and approved by us. Good Order: Good Order is a state or condition determined to be reasonably necessary for the accurate execution of the intended transaction or direction, including: a) being received at our Service Office in a manner that is sufficiently complete and clear that we do not need to exercise any discretion; b) complies with all relevant laws and regulations; c) on specific forms, or by other means we then permit (such as via telephone or electronic transmission); and/or d) with any signatures and dates as we may require. We will notify the Financial Firm or you when Good Order conditions have not been met. Income Withdrawal: Any Withdrawal taken from the Account that is not designated by you as a Non-Income Withdrawal. Once you have taken your first Income Withdrawal from the Account, or notified us in Good Order to begin the Income Stage, all further Withdrawals will be deemed to be Income Withdrawals. Initial Account Value Contribution: The initial amount contributed to the Account by you, or on your behalf, shown in the Contract Schedule and acknowledged by us. Ins...

IRA Account means an Individual Retirement Account, as such term ▇▇ defined in the Internal Revenue Code, for which Seller serves as trustee or custodian, the assets of which consist solely of deposit liabilities of the Seller.

IRA Account means, with respect to amounts attributable to certain balances transferred to this Plan from the BR Plan or any Other Plan, the Account maintained for each Participant under each Investment Fund in which all or part of the deductible contributions made by the Participant, as permitted under the terms of the transferring plan and Code section 219 prior to January 1, 1987, have been invested and adjusted from time to time as provided in section 9.3.