NIA definition
Examples of NIA in a sentence
Please note that a negative NIA is permitted and, if applicable, will be deducted from the amount of the excess contribution.
For the purpose of the excess contribution, we will calculate the net income attributable to that contribution (Net Income Attributable or "NIA") using the method provided for in the IRS Final Regulations for Earnings Calculation for Returned or Recharacterized Contributions.
This method calculates the NIA based on the actual earnings and losses of the IRA during the time it held the excess contribution.
Excess contributions (plus or minus the NIA) that are distributed by your federal income tax return due date (including extensions) will be considered corrected, thus avoiding an excess contribution penalty.
Excess contributions (plus or minus the NIA) that are distributed by your federal income tax return due date (plus extensions) will be considered corrected, thus avoiding an excess contribution penalty.