SIMPLE IRA Sample Clauses

SIMPLE IRA. No contributions will be accepted under a SIMPLE IRA plan established by any employer pursuant to Code Section 408(p). Also, no transfer or rollover of funds attributable to contributions made by a particular employer under its SIMPLE IRA plan will be accepted from a SIMPLE IRA, that is, an IRA used in conjunction with a SIMPLE IRA plan, prior to the expiration of the two-year period beginning on the date the employee first participated in that employer’s SIMPLE IRA plan.
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SIMPLE IRA. A SIMPLE IRA is an individual retirement account described in section 408(a), or an individual retirement annuity described in section 408(b), to which the only contributions that can be made are contributions under a SIMPLE IRA plan and rollovers or transfers from another SIMPLE IRA.
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SIMPLE IRA to-Traditional IRA Rollovers. Assets distributed from your SIMPLE IRA may be rolled over to your Traditional IRA without IRS penalty tax provided two years have passed since you first participated in a SIMPLE IRA plan sponsored by your employer. As with Traditional IRA-to-Traditional IRA rollovers, the requirements of IRC Sec. 408(d)(3) must be met. A proper SIMPLE IRA-to-IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. You are permitted to roll over only one distribution from an IRA (Traditional, Xxxx, or SIMPLE) in a 12-month period, regardless of the number of IRAs you own. A distribution may be rolled over to the same IRA or to another IRA that is eligible to receive the rollover. For more information on rollover limitations, 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.
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SIMPLE IRA. The Company offers a voluntary pre-tax salary reduction plan wixx a three percent (3%) employer match in which eligible employees may elect to participate on the first day of the month following 90 days of continuous employment. Eligible employees will have 30 days in which to sign up for participation once the enrollment criterion of 90 days of continuous employment has been met, subject to plan restrictions. Employees' pre-tax plan contribution amounts are limited to $6,000.00 annually. Federal guidelines and regulations governing Simple Retirement Account (SRA) programs determine maximum annual contribution amounts.
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SIMPLE IRA. If your employer mistakenly contributes too much to your SIMPLE IRA means any individual (other than your spouse’s child) who has not Income Tax Withholding – Any withdrawal from your SIMPLE IRA is Rollovers and Conversions – Your SIMPLE IRA may be rolled over to is applied to your withdrawal, not less than 10 percent of the amount withdrawn must be withheld. converted to a Xxxx XXX, provided that all of the applicable rollover and conversion rules are followed. Rollover is a term used to describe a movement of cash or other property to your SIMPLE IRA from another and roll over the full amount distributed from your employer­ penalty tax. Conversion is a term used to describe the movement of
Sample 1
SIMPLE IRA. Attach copy of Xxxxxxxx’s executed IRS Form 5304-SIMPLE or original IRS Form 5305-SIMPLE (X. Xxxx Price will sign and return a copy). Check to update an existing plan: 🞏 403(b)(7), Individual 401(k), SEP-IRA, SIMPLE IRA. Provide the Plan ID below. Updates will be made according to any completed sections on this form. Plan Name Employer (Plan Sponsor) Name Street or Mailing Address City State ZIP Code Tax Identification Number (TIN) X. Xxxx Price Plan ID (existing plans only) Plan Contact Name Phone Fax E-mail Address Employee kits are available at xxxxxxxxxx.xxx/xxxxxxxx, or will be mailed if a quantity is entered here: PSW is a secure website that enables Plan Sponsors to perform certain Plan administrative functions, including new participant account setup, updating participant status, participant account maintenance, Plan contribution processing, and Confirmation of Plan Contribution Report and other report downloads. X. Xxxx Price will establish PSW access and provide Plan Sponsor a unique operator ID and temporary password by mail. Plan Sponsor agrees to accept responsibility for protecting the confidentiality of the login information. X. Xxxx Price will provide certain online services via PSW for use by Plan Sponsor in its administration of the Plan identified in Section 1. Plan Sponsor is responsible for procur- ing and operating all hardware and software to be compatible with the online services. Plan Sponsor agrees to establish participant accounts and maintain participant account information (including employment status) on PSW. Plan Sponsor is responsible for permanent retention of all Employer Sponsored Retirement Plan Participant Account forms, reviewing and verifying the accuracy of all information it (or its agent) enters directly into PSW and for promptly notifying X. Xxxx Price of any resulting errors, omissions, or inaccuracies. Employer must designate a default fund The default fund will be used if a Plan participant fails to select a X. Xxxx Price mutual fund for contributions. Plan Sponsors may wish to consider how the default investment decision may affect their status with respect to certain regulatory requirements. X. Xxxx Price Fund: Access to PSW (xxxxxxxxxx.xxx/xxx) WILL NOT be granted to any party other than the Plan Contact identified in Section 1 unless the information is completed below. By completing the information requested below and signing in Section 6, Plan Sponsor authorizes and directs X. Xxxx Price to provide unique...
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SIMPLE IRA. Transfer of Assets Form Minimum initial investment is $1,000 for retirement accounts. Indicate your investment amount in the Fund(s) and Class(es) on the following page. If no class is indicated, Class A shares will be purchased. Existing Touchstone Account Number:  4. Xxxxxxxxx Education Savings (ESA) – Transfer of Assets Form Minimum initial investment is $1,000 per Fund. Indicate your investment amount in the Fund(s) and Class(es) below. If no class is indicated, Class A shares will be purchased. Existing Touchstone Account Number:  5. SIMPLE IRA Account Minimum initial investment is $1,000 per Fund (or $100 per Fund if payroll deduction plan) for retirement accounts. Indicate your investment amount in the Fund(s) and Class(es) on the following page. If no class is indicated, Class A shares will be purchased.
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Related to SIMPLE IRA

  • Employer Profit Sharing Contributions An Employee will be eligible to become a Participant in the Plan for purposes of receiving an allocation of any Employer Profit Sharing Contribution made pursuant to Section 11 of the Adoption Agreement after completing 1 (enter 0, 1, 2 or any fraction less than 2)

  • Stock Ownership Attached hereto as Schedule 8 is a true and correct list of all the duly authorized, issued and outstanding stock of each Subsidiary and the record and beneficial owners of such stock. Also set forth on Schedule 8 is each equity Investment of the Borrower and each Subsidiary that represents 50% or less of the equity of the entity in which such investment was made.

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • No Interest on Contributions No Partner shall be entitled to interest on its Capital Contribution.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Rollover Contributions Generally, a rollover is a movement of cash or assets from one retirement plan to another. If you are required to take minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Both the distribution and the rollover contribution are reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. IRA-to-IRA Rollover: You may withdraw, tax free, all or a portion of your Traditional IRA if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Traditional IRA as a rollover. To complete a rollover of a SIMPLE IRA distribution to your Traditional IRA, at least two years must have elapsed from the date on which you first participated in any SIMPLE IRA plan maintained by the employer, and you must contribute the distribution within 60 days from the date you receive it. Only one IRA distribution within any 12-month period may be rolled over in an IRA-to-IRA rollover transaction. The 12-month waiting period begins on the date you receive an IRA distribution that you subsequently roll over, not on the date you complete the rollover transaction. If you roll over the entire amount of an IRA distribution (including any amount withheld for federal, state, or other income taxes that you did not receive), you do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents basis) and may be, if you are under age 59½, subject to the premature distribution penalty tax. Employer Retirement Plan-to-Traditional IRA Rollover (by Traditional IRA Owner): Eligible rollover distributions from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Traditional IRA. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that may not be rolled over to your Traditional IRA include any required minimum distributions, hardship distributions, any part of a series of substantially equal periodic payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover from an employer plan to your Traditional IRA, you must generally instruct the plan administrator to send the distribution to your Traditional IRA Custodian. To complete an indirect rollover to your Traditional IRA, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution to complete an indirect rollover. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents after-tax contributions) and may be, if you are under age 59½, subject to the premature distribution penalty tax. If you choose the indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the full amount. If you do not make up the withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Conduit IRA: You may use your IRA as a conduit to temporarily hold amounts you receive in an eligible rollover distribution from an employer’s retirement plan. Should you combine or add other amounts (e.g., regular contributions) to your conduit IRA, you may lose the ability to subsequently roll these funds into another employer plan to take advantage of special tax rules available for certain qualified plan distribution amounts. Consult your tax advisor for additional information. Employer Retirement Plan-to-Traditional IRA Rollover (by Inherited Traditional IRA Owner): Please refer to the section of this document entitled “Inherited IRA”. Traditional IRA-to-Employer Retirement Plan Rollover: If your employer’s retirement plan accepts rollovers from IRAs, you may complete a direct or indirect rollover of your pre-tax assets in your Traditional IRA into your employer retirement plan. If you are required to take minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Rollover of Exxon Xxxxxx Settlement Income: Certain income received as an Exxon Xxxxxx qualified settlement may be rolled over to a Traditional IRA or another eligible retirement plan. The amount contributed cannot exceed the lesser of $100,000 (reduced by the amount of any qualified settlement income contributed to an eligible retirement plan in prior tax years) or the amount of qualified settlement income received during the tax year. Contributions for the year can be made until the due date for filing your return, not including extensions.

  • Revenue Sharing Developer shall pay to Fig, or Fig shall retain (as applicable), the Fig Share in accordance with the terms below.

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