Ineligible Transfer From Account Types Sample Clauses

Ineligible Transfer From Account Types. ▪ East West Bank accounts that do not meet eligibility requirements as defined by this Agreement or otherwise by the Bank. ▪ Accounts that are not held in an individual, joint, or certain sole proprietorship, trust or fiduciary ownership capacity (without restrictions); or that are not otherwise allowed for under a Bank approved exception or as part of an enhanced service offering. ▪ Certain business accounts ▪ Individual Retirement Accounts (IRAs) ▪ 401 K Accounts ▪ Certificate of Deposit (CD) accounts or other time-based accounts ▪ Loan accounts ▪ Accounts that have processing restrictions or that have otherwise been temporarily or permanently blocked by us from using the Wire Transfer Service. Regardless, if we make an account available for service selection, you agree that you are solely responsible for ensuring you have all necessary legal rights, power and authority to initiate the requested transaction on the Eligible account(s), and agree to be liable for any and all third party actions, claims, liability, loss and damages (including, but not limited to, reasonable attorneys’ fees), caused by or arising from your actions. You may have other accounts that are not eligible for this Wire Transfer Service due to Bank policies, procedures and/or restrictions specific to your East West Bank account. Eligibility is determined solely by the records of the Bank, and may change from time-to-time. We are under no obligation to honor a Wire Transfer request, even if we have honored the same request in the past. If in doubt, you should contact us to verify if your account(s) is eligible for the Wire Transfer Service.
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Ineligible Transfer From Account Types. ▪ East West Bank accounts that do not meet eligibility requirements as defined by this Agreement or otherwise by the Bank or our Service Providers. ▪ Accounts that do not have a primary mailing address in the United States as defined in our records. ▪ Accounts that are not held in an individual, joint, or certain sole proprietorship, trust or fiduciary ownership capacity (without restrictions); or that are not otherwise allowed for under a Bank approved exception or as part of an enhanced service offering. ▪ Certain business accounts ▪ Individual Retirement Accounts (IRAs) ▪ 401 K Accounts ▪ Certificate of Deposit (CD) accounts or other time-based accounts ▪ Loan accounts ▪ Accounts that have processing restrictions or that have otherwise been temporarily or permanently blocked by us from using the Alipay Transfer Service. Regardless, if we make an account available for service selection, you agree that you are solely responsible for ensuring you have all necessary legal rights, power and authority to initiate the requested transaction on the Eligible account(s), and agree to be liable for any and all third party actions, claims, liability, loss and damages (including, but not limited to, reasonable attorneys’ fees), caused by or arising from your actions. You may have other accounts that are not eligible for this Alipay Transfer Service due to Bank policies, procedures and/or restrictions specific to your East West Bank account. Eligibility is determined by the records of the Bank and our Service Providers, and may change from time-to-time. The Bank and our Service Providers are under no obligation to honor an Alipay Transfer request, even if we have honored the same request in the past. If in doubt, you should contact us to verify if your account(s) is eligible for the Alipay Transfer Service.
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Ineligible Transfer From Account Types.  Velo by East West Bank Accounts that do not meet eligibility requirements as defined by this Agreement or otherwise by the Bank.  Accounts that are not held in an individual or joint (without restrictions) ownership capacity, for example custodial and/or Trust Accounts.  Accounts that have processing restrictions or that have otherwise been temporarily or permanently blocked by us from using the Wire Transfer Service. If in doubt, you should contact us to verify if your account(s) is eligible for the Wire Transfer Service.
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Ineligible Transfer From Account Types.  Velo by East West Bank Accounts that do not meet eligibility requirements as defined by this Agreement or otherwise by the Bank.  Accounts that do not have a primary mailing address in the United States as defined in our records.  Accounts that are not held in an individual or joint (without restrictions) ownership capacity, including for example custodial and/or Trust Accounts.  Accounts that have processing restrictions or that have otherwise been temporarily or permanently blocked by us from using the Alipay Transfer Service. If in doubt, you should contact us to verify if your account(s) is eligible for the Alipay Transfer Service.
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Ineligible Transfer From Account Types.  East West Bank Accounts that do not meet eligibility requirements as defined by this Agreement or otherwise by the Bank or our Service Providers.  Accounts that do not have a primary mailing address in the United States as defined in our records.  Accounts that are not held in an individual, joint, or certain sole proprietorship, trust or fiduciary ownership capacity (without restrictions); or that are not otherwise allowed for under a Bank approved exception or as part of an enhanced service offering.  Certain business accountsIndividual Retirement Accounts (IRAs)  401 K Accounts  Certificate of Deposit (CD) accounts or other time-based accounts  Loan Accounts  Accounts that have processing restrictions or that have otherwise been temporarily or permanently blocked by us from using the Alipay Transfer Service. Regardless of if an account is made available by us for service selection, you agree that you are solely responsible for ensuring you have all necessary legal rights, power and authority to initiate the requested transaction on the Eligible account(s), and agree to be liable for any and all third party actions, claims, liability, loss and damages (including, but not limited to, reasonable attorneys’ fees), caused by or arising from your actions. You may have other accounts that are not eligible for this Alipay Transfer Service due to Bank policies, procedures and/or restrictions specific to your East West Bank account. Eligibility is determined by the records of the Bank and our Service Providers, and may change from time-to- time. The Bank and our Service Providers are under no obligation to honor an Alipay Transfer request, even if we have honored the same request in the past. If in doubt, you should contact us to verify if your account(s) is eligible for the Alipay Transfer Service.
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Related to Ineligible Transfer From Account Types

  • How Are Distributions from a Xxxxxxxxx Education Savings Account Taxed For Federal Income Tax Purposes? Amounts distributed are generally excludable from gross income if they do not exceed the beneficiary’s “qualified higher education expenses” for the year or are rolled over to another Xxxxxxxxx Education Savings Account according to the requirements of Section (4). “Qualified higher education expenses” generally include the cost of tuition, fees, books, supplies, and equipment for enrollment at (i) accredited post-secondary educational institutions offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree or another recognized post-secondary credential and (ii) certain vocational schools. In addition, room and board may be covered if the beneficiary is at least a “half-time” student. This amount may be reduced or eliminated by certain scholarships, qualified state tuition programs, HOPE, Lifetime Learning tax credits, proceeds of certain savings bonds, and other amounts paid on the beneficiary’s behalf as well as by any other deductions or credits taken for the same expenses. The definition of “qualified education expenses” includes expenses more frequently and directly related to elementary and secondary school education, including the purchase of computer technology or equipment or Internet access and related services. To the extent payments during the year exceed such amounts, they are partially taxable and partially non-taxable similar to payments received from an annuity. Any taxable portion of a distribution is generally subject to a 10% penalty tax in addition to income tax unless the distribution is (i) due to the death or disability of the beneficiary, (ii) made on account of a scholarship received by the beneficiary, or (iii) is made in a year in which the beneficiary elects the HOPE or Lifetime Learning credit and waives the exclusion from income of the Xxxxxxxxx Education Savings Account distribution. You may be allowed to take both the HOPE or Lifetime Learning credits while simultaneously taking distributions from Xxxxxxxxx Education Savings Accounts. However, you cannot claim a credit for the same educational expenses paid for through Xxxxxxxxx Education Savings Account distributions. To the extent a distribution is taxable, capital gains treatment does not apply to amounts distributed from the account. Similarly, the special five- and ten-year averaging rules for lump-sum distributions do not apply to distributions from a Xxxxxxxxx Education Savings Account. The taxable portion of any distribution is taxed as ordinary income. The IRS does not require withholding on distributions from Xxxxxxxxx Education Savings Accounts.

  • How Are Distributions From a Traditional IRA Taxed for Federal Income Tax Purposes Amounts distributed to you are generally includable in your gross income in the taxable year you receive them and are taxable as ordinary income. To the extent, however, that any part of a distribution constitutes a return of your nondeductible contributions, it will not be included in your income. The amount of any distribution excludable from income is the portion that bears the same ratio as your aggregate non-deductible contributions bear to the balance of your Traditional IRA at the end of the year (calculated after adding back distributions during the year). For this purpose, all of your Traditional IRAs are treated as a single Traditional IRA. Furthermore, all distributions from a Traditional IRA during a taxable year are to be treated as one distribution. The aggregate amount of distributions excludable from income for all years cannot exceed the aggregate non-deductible contributions for all calendar years. You must elect the withholding treatment of your distribution, as described in paragraph 22 below. No distribution to you or anyone else from a Traditional IRA can qualify for capital gains treatment under the federal income tax laws. Similarly, you are not entitled to the special five- or ten-year averaging rule for lump-sum distributions that may be available to persons receiving distributions from certain other types of retirement plans. Historically, so-called “excess distributions” to you as well as “excess accumulations” remaining in your account as of your date of death were subject to additional taxes. These additional taxes no longer apply. Any distribution that is properly rolled over will not be includable in your gross income.

  • What if I Make a Contribution for Which I Am Ineligible or Change My Mind About the Type of IRA to Which I Wish to Contribute? Prior to the due date (including extensions) for filing your tax return, you may elect to “recharacterize” amounts that you contributed to an IRA during the year by making a recharacterization of the contributed amount and earnings. Thus, for example, if you contribute amounts to a Xxxx XXX and later determine that you are ineligible to make a Xxxx XXX contribution for the year, you may at any time prior to the tax return due date for the year (including extensions) make a recharacterization of the contributions and earnings to a Traditional IRA.

  • When Must Distributions from a Xxxxxxxxx Education Savings Account Begin? Distribution of a Xxxxxxxxx Education Savings Account must be made (or otherwise will be deemed made) no later than 30 days from the earlier of the beneficiary’s death or attainment of age 30. A distribution from a Xxxxxxxxx Education Savings Account may be rolled over to another beneficiary’s Xxxxxxxxx Education Savings Account according to the requirements of Section (4). Note that the Economic Growth and Tax Relief Reconciliation Act of 2001 waives the distribution age limitation if the beneficiary of the Xxxxxxxxx Education Savings Account is a “Special Needs” student.

  • Can I Roll Over or Transfer Amounts from Other IRAs or Employer Plans If properly executed, you are allowed to roll over a distribution from one Traditional IRA to another without tax penalty. Rollovers between Traditional IRAs may be made once every 12 months and must be accomplished within 60 days after the distribution. Beginning in 2015, just one 60 day rollover is allowed in any 12 month period, inclusive of all Traditional, Xxxx, SEP, and SIMPLE IRAs owned. Under certain conditions, you may roll over (tax-free) all or a portion of a distribution received from a qualified plan or tax-sheltered annuity in which you participate or in which your deceased spouse participated. In addition, you may also make a rollover contribution to your Traditional IRA from a qualified deferred compensation arrangement. Amounts from a Xxxx XXX may not be rolled over into a Traditional IRA. If you have a 401(k), Xxxx 401(k) or Xxxx 403(b) and you wish to rollover the assets into an IRA you must roll any designated Xxxx assets, or after tax assets, to a Xxxx XXX and roll the remaining plan assets to a Traditional IRA. In the event of your death, the designated beneficiary of your 401(k) Plan may have the opportunity to rollover proceeds from that Plan into a Beneficiary IRA account. In general, strict limitations apply to rollovers, and you should seek competent advice in order to comply with all of the rules governing rollovers. Most distributions from qualified retirement plans will be subject to a 20% withholding requirement. The 20% withholding can be avoided by electing a “direct rollover” of the distribution to a Traditional IRA or to certain other types of retirement plans. You should receive more information regarding these withholding rules and whether your distribution can be transferred to a Traditional IRA from the plan administrator prior to receiving your distribution.

  • When Must Distributions from a Traditional IRA Begin You must begin receiving the assets in your account no later than April 1 following the calendar year in which you reach RMD age.

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