What If I Engage in a Prohibited Transaction Sample Clauses

What If I Engage in a Prohibited Transaction. If you engage in a “prohibited transaction,” as defined in Section 4975 of the Internal Revenue Code, your account will be disqualified, and the entire balance in your account will be treated as if distributed to you and will be taxable to you as ordinary income. Examples of prohibited transactions are:
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What If I Engage in a Prohibited Transaction. If you engage in aprohibited transaction,” as defined in Section 4975 of the Internal Revenue Code, your account could lose its tax-favored

Related to What If I Engage in a Prohibited Transaction

  • What if a Prohibited Transaction Occurs If a “prohibited transaction”, as defined in Section 4975 of the Internal Revenue Code, occurs, the Xxxxxxxxx Education Savings Account could be disqualified. Rules similar to those that apply to Traditional IRAs will apply.

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