Common use of Disaster Related Relief Clause in Contracts

Disaster Related Relief. If you qualify (for example, you sustained an economic loss due to, or are otherwise considered affected by, certain IRS designated disasters), you may be eligible for favorable tax treatment on distributions, rollovers, and other transactions involving your Xxxx XXX. Qualified disaster relief may include penalty-tax free early distributions made during specified timeframes for each disaster, the ability to include distributions in your gross income ratably over multiple years, the ability to roll over distributions to an eligible retirement plan without regard to the 60-day rollover rule, and more. For additional information on specific disasters, including a complete listing of disaster areas, qualification requirements for relief, and allowable disaster-related Xxxx XXX transactions, you may wish to obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx. XXX FINANCIAL DISCLOSURE The term XXX will be used below to mean Traditional XXX, Xxxx XXX, and SIMPLE XXX, unless otherwise specified. The financial organization should complete the financial disclosure using Method I, Method II, or Method III. If the growth of the XXX can reasonably be projected, use either Method I or Method II. The account values projected using Method I or Method II must be reduced by all applicable fees and penalties. If annual fees are assessed, such as an annual service fee, use Method II. If no projection of growth of the XXX can reasonably be shown, use Method III.

Disaster Related Relief. If you qualify (for example, you sustained an economic loss due to, or are otherwise considered affected by, certain IRS designated disasters), you may be eligible for favorable tax treatment on distributions, rollovers, and other transactions involving your Xxxx XXX. Qualified disaster relief may include penalty-tax free early distributions made during specified timeframes for each disaster, the ability to include distributions in your gross income ratably over multiple years, the ability to roll over distributions to an eligible retirement plan without regard to the 60-day rollover rule, and more. For additional information on specific disasters, including a complete listing of disaster areas, qualification requirements for relief, and allowable disaster-related Xxxx XXX transactions, you may wish to obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx. XXX FINANCIAL DISCLOSURE The term XXX will be used below to mean Traditional XXX, Xxxx XXX, and SIMPLE XXX, unless otherwise specified. The financial organization should complete the financial disclosure using Method I, Method II, or Method III. If the growth of the XXX can reasonably be projected, use either Method I or Method II. The account values projected using Method I or Method II must be reduced by all applicable fees and penalties. If annual fees are assessed, such as an annual service fee, use Method II. If no projection of growth of the XXX can reasonably be shown, use Method III.

Disaster Related Relief. If you qualify (for example, you sustained an economic loss due to, or are otherwise considered affected by, certain IRS designated disasters), you may be eligible for favorable tax treatment on distributions, rollovers, and other transactions involving your Xxxx XXXSIMPLE IRA. Qualified disaster relief may include penalty-tax penalty‑tax free early distributions made during specified timeframes for each disaster, the ability to include distributions in your gross income ratably over multiple years, the ability to roll over distributions to an eligible retirement plan without regard to the 60-day 60‑day rollover rule, and more. For additional information on specific disasters, including a complete listing of disaster areas, qualification requirements for relief, and allowable disaster-related Xxxx XXX SIMPLE IRA transactions, you may wish to obtain IRS Publication 590-B590‑B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx. XXX IRA FINANCIAL DISCLOSURE The term XXX IRA will be used below to mean Traditional XXXIRA, Xxxx XXX, and SIMPLE XXXIRA, unless otherwise specified. The financial organization should complete the financial disclosure using Method I, Method II, or Method III. If the growth of the XXX IRA can reasonably be projected, use either Method I or Method II. The account values projected using Method I or Method II must be reduced by all applicable fees and penalties. If annual fees are assessed, such as an annual service fee, use Method II. If no projection of growth of the XXX IRA can reasonably be shown, use Method III.