XXXX CONVERSIONS Sample Clauses

XXXX CONVERSIONS. You may convert a traditional, SEP, or SIMPLE (after the required two year holding period) IRA into a Xxxx XXX. You may not convert any portion of a required minimum distribution (RMD). If a distribution is converted from a traditional IRA and is deposited to your Xxxx XXX within 60 calendar days, the amount of the conversion distribution will be taxed as ordinary income, except any amount which represents the return of non-deductible contributions is not taxed. The IRS enforces the 60-day time limit strictly. The 10% penalty for early distributions will not apply to the amount converted if held in your Xxxx XXX for at least five years and certain other criteria are met. See the section titled “Taxation of Xxxx XXX Distributions”. Your traditional IRA may be converted to a Xxxx XXX by means of an in-house direct transfer (within the same financial institution) or as a direct transfer between two different financial institutions. A conversion is reported as a distribution from your traditional IRA (IRS Form 1099-R) and a conversion contribution to your Xxxx XXX (IRS Form 5498). The rules regarding conversions to Xxxx IRAs are complex and you should consult a professional tax advisor prior to a conversion.
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XXXX CONVERSIONS. You may convert a traditional, SEP, or SIMPLE (after the required two year holding period) IRA into a Xxxx XXX. You may not convert any portion of a required minimum distribution (RMD). If a distribution is converted from a traditional IRA and is deposited to your Xxxx XXX within 60 calendar days, the amount of the conversion distribution will be taxed as ordinary income, except any amount which represents the return of non-deductible contributions is not taxed. The IRS enforces the 60-day time limit strictly. The 10% penalty for early distributions will not apply to the amount converted if held in your Xxxx XXX for at least five years and certain other criteria are met. See the section titled “Taxation of Xxxx XXX Distributions”. Your traditional IRA may be converted to a Xxxx XXX by means of an in-house direct transfer (within the same financial institution) or as a direct transfer between two different financial institutions. A conversion is reported as a distribution from your traditional IRA (IRS Form 1099-R) and a conversion contribution to your Xxxx XXX (IRS Form 5498). The rules regarding conversions to Xxxx IRAs are complex and you should consult a professional tax advisor prior to a conversion. EMPLOYER-SPONSORED PLAN CONVERSIONS TO A XXXX XXX Conversion rollovers from employer-sponsored plans, such as qualified plans and 403(b) plans, to a Xxxx XXX are permitted. RECHARACTERIZATION OF XXXX XXX CONVERSION IS NOW PROHIBITED (Correction Process): Effective January 1, 2018, a Xxxx XXX conversion cannot be recharacterized back to a traditional IRA, SEP or SIMPLE IRA. In addition, amounts contributed to an employer sponsored qualified plan that were converted to a Xxxx XXX cannot be recharacterized back to the employer plan. A Xxxx XXX conversion is now deemed an irrevocable election and cannot be “reversed” or “corrected”. Prior to January 1, 2018, you could correct a Xxxx XXX conversion made in error by recharacterizing the conversion back to a traditional IRA, SEP or SIMPLE IRA. The recharacterization had to take place prior to the due date, including extensions, for filing your federal income tax return for the tax year in which the conversion was originally made. According to the IRS, you can recharacterize a Xxxx XXX conversion that took place in tax year 2017, provided that the recharacterization is completed by October 15, 2018. For more information, please visit the IRS web site xxx.xxx.xxx using the search term “IRA FAQs – Recharacterization...
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XXXX CONVERSIONS. Xxxx Conversions, also referred to as in-plan rollovers, are the conversion of balances in an Account other than a Xxxx Contributions Account to the Xxxx Contributions Account. Such Xxxx Conversions are not Contributions, and are not subject to any limits on Contributions set forth in Section 6. Xxxx Conversions are subject to Code §402A(c)(4). Xxxx Conversions, if any, will be available in accordance with the following:
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XXXX CONVERSIONS. Beginning in 2010 there are no AGI or filing status requirements for converting and rolling over amounts to a Xxxx XXX. If a distribution converted from a Traditional IRA is deposited to your GE Xxxx XXX within 60 calendar days of receipt, the amount of the conversion distribution will be taxed as ordinary income, except that the amount of any distribution from the Traditional IRA which represents the return of nondeductible contributions is not taxed. The IRS enforces the 60-day time limit strictly. You may not convert any portion of a Required Minimum Distribution (RMD). The 10% penalty for distributions under age 59½ will not apply to the amount converted if held in your Xxxx XXX for at least five years and certain other criteria are met. See the section on Taxation of Distributions below. Your Traditional IRA may also be converted to a Xxxx XXX by means of a direct transfer between the two financial institutions. A conversion is reported as a distribution from the Traditional IRA (IRS Form 1099-R) and a conversion contribution to the Xxxx XXX (IRS Form 5498). The rules regarding conversions to Xxxx IRAs are complex and you should consult a competent tax advisor prior to a conversion. Please refer to IRS Publication 590 for more information. Recharacterization of Contributions All or part of a contribution you make to your Xxxx XXX, along with any allocable earnings or losses, may be recharacterized and treated as if made to your Traditional IRA on the date the contribution was originally made to your Xxxx XXX. All or part of a contribution you make to your Traditional IRA,may be recharacterized and treated as if made to your Xxxx XXX on the date the contribution was originally made to your Traditional IRA. Recharacterization of a contribution is irrevocable, and must be completed on or before the due date, including extensions, for filing your Federal income tax return for the tax year for which the contribution was originally made. Please refer to IRS Publication 590 for more information. A recharacterized contribution is reported as a distribution from the first IRA (IRS Form 1099-R) and a recharacterization contribution to the second IRA (IRS Form 5498) for the tax year in which the recharacterization occurs. The rules regarding recharacterization are complex and you should consult a competent tax advisor prior to any recharacterization. Recharacterization of a Conversion (Correction Process) You may correct a conversion made in error by recharacter...
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XXXX CONVERSIONS. You may convert a Traditional or SEP IRA into a Xxxx XXX if your AGI (single or joint) does not exceed $100,000 for the tax year unless you are married and file separately. (If you are a married individual, filing a separate return, and have lived apart from your spouse for the entire year, you may be eligible to be treated as a single taxpayer.) For purposes of the conversion, neither the conversion amount nor the amount of any required minimum distribution from your Traditional IRA is included in the AGI limit of $100,000. If a distribution is converted from a Traditional IRA is deposited to your Aquila Group of Funds Xxxx XXX within 60 calendar days of receipt, the amount of the conversion distribution will be taxed as ordinary income, except that the amount of any distribution from the Traditional IRA which represents the return of non-deductible contributions is not taxed. The IRS enforces the 60-day time limit strictly. You may not convert any portion of a Required Minimum Distribution (RMD). The 10% penalty for distributions under age 59½ will not apply to the amount converted if held in your Xxxx XXX for at least five years and certain other criteria are met. See the section on Taxation of Distributions below. Your Traditional IRA may also be converted to a Xxxx XXX by means of a direct transfer between the two financial institutions. A conversion is reported as a distribution from the Traditional IRA (IRS Form 1099-R) and a conversion contribution to the Xxxx XXX (IRS Form 5498). The rules regarding conversions to Xxxx IRAs are complex and you should consult a competent tax advisor prior to a conversion.
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XXXX CONVERSIONS. My Authorized agent/Advisor will have the authority to convert IRA assets in my account to a Xxxx XXX. I understand the following Xxxx conversion rules apply: – The taxable converted amount will be subject to federal income taxes in the year in which the conversion occurs, but not subject to the early withdrawal penalty. – If I am required to take a required minimum distribution from my IRA, I must do so prior to converting to a Xxxx XXX. – SIMPLE IRA assets may be converted to a Xxxx XXX only after the expiration of the two-year period beginning on the date my employer first made contributions to my SIMPLE IRA. – If I am opening a new Premiere Select Xxxx XXX, I must complete a Premiere Select IRA Application, selecting a Xxxx XXX registration, and submit it to Fidelity prior to requesting a Xxxx conversion. Notice of Withholding Read the following Notice of Withholding carefully. Asset Movement Authorization will permit my Authorized agent/Advisor, as my agent, to make federal and state tax withholding elections on my behalf. IRA distributions (other than Xxxx XXX distributions and Direct Rollovers), and conversions to Xxxx IRAs, are subject to federal (and, in some cases, state) income tax withholding unless my Authorized agent/Advisor or I elect not to have withholding apply. If federal and/or state taxes are withheld from a Xxxx XXX Conversion, the amount withheld may be subject to the 10% early withdrawal penalty unless an exception applies. Withholding will apply to the gross amount of each distribution, even if I have made non-deductible contributions. Moreover, failure to provide a U.S. residential address will result in 10% federal income tax withholding (and possible state income tax withholding) on the distribution proceeds, even if I have elected not to have tax withheld (an IRS requirement as applicable). A Post Office Box does not qualify as a residential address. If my Authorized agent/Advisor or I elect to have withholding apply (by indicating so at the time of the distribution request, by making no choice, or by not providing a U.S. residential address), federal income tax will be withheld from my IRA distribution(s) (excluding Xxxx XXX distributions and Direct Rollovers) at a rate of at least ten percent (10%). Federal income tax will not be withheld from distributions from a Xxxx XXX unless I elect to have such tax withheld. Generally, you can’t choose less than 10% for payments to be delivered outside the United States and its possessi...
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XXXX CONVERSIONS. Employer-sponsored plans may or may not allow for Xxxx contributions, as well as in-plan Xxxx conversions. This depends on the provisions outlined in the plan document. IRAs always allow for the conversion of assets to a Xxxx XXX. Xxxx conversions are typically taxable as ordinary income for the year they are executed. Employer-sponsored plan participants should check with their plan’s administrator to verify the options available in their plan. Decisions to roll over or transfer retirement plan or IRA assets should be made with careful consideration of the advantages and disadvantages as discussed above. Stifel does not offer tax advice. Individuals should consult their tax advisor regarding their particular situation as it pertains to tax matters.
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XXXX CONVERSIONS. Employer-sponsored plans may or may not allow for Xxxx contributions, as well as in-plan Xxxx conversions. This depends on the provisions outlined in the plan document. IRAs always allow for the conversion of assets to a Xxxx XXX. Xxxx conversions are typically taxable as ordinary income for the year they are executed. Employer-sponsored plan participants should check with their plan’s administrator to verify the options available in their plan. Decisions to roll over or transfer retirement plan or IRA assets should be made with careful consideration of the advantages and disadvantages as discussed above. Stifel does not offer tax advice. Individuals should consult their tax advisor regarding their particular situation as it pertains to tax matters. For more information on important considerations when making the decision to roll over assets, please visit: xxxxx://xxx.xxxxx. org/investors/learn-to-invest/types-investments/retirement/401k- investing/401k-rollovers. For Stifel’s Fee Schedule, please contact your Stifel Financial Advi- sor. * An in-service withdrawal is a type of withdrawal that is made from a qualified retirement plan account while the participant is still employed with the plan sponsor. In-service withdrawals may not be available in all plans.
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Related to XXXX CONVERSIONS

  • Data Conversion [insert City or Contractor] shall be responsible for the timely and accurate conversion of City’s data to the format required by the Programs [or, System], and for providing the test data specified in the Acceptance Test Plan [or, Design Specifications].

  • Conversions The Borrower shall have the option to convert, on any Business Day beginning three Business Days following the Initial Borrowing Date, all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Loans (other than Swingline Loans which may not be converted pursuant to this Section 2.06) made pursuant to one or more Borrowings of one or more Types of Loans into a Borrowing of another Type of Loan, provided that, (i) except as otherwise provided in Section 2.10(b), Eurodollar Loans may be converted into Base Rate Loans only on the last day of an Interest Period applicable to the Loans being converted and no such partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of such Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount applicable thereto, (ii) unless the Required Lenders otherwise agree, Base Rate Loans may only be converted into Eurodollar Loans if no Default or Event of Default is in existence on the date of the conversion, and (iii) no conversion pursuant to this Section 2.06 shall result in a greater number of Borrowings of Eurodollar Loans than is permitted under Section 2.02. Each such conversion shall be effected by the Borrower by giving the Administrative Agent at the Notice Office prior to 2:00 P.M. (New York City time) at least (x) in the case of conversions of Base Rate Loans into Eurodollar Loans, three Business Days’ prior notice and (y) in the case of conversions of Eurodollar Loans into Base Rate Loans, one Business Day’s prior notice (each, a “Notice of Conversion/Continuation”), in each case in the form of Exhibit A-2, appropriately completed to specify the Loans to be so converted, the Borrowing or Borrowings pursuant to which such Loans were incurred and, if to be converted into Euro Rate Loans, the Interest Period to be initially applicable thereto. The Administrative Agent shall give each Lender prompt notice of any such proposed conversion affecting any of its Loans.

  • SIMPLE IRA-to-Xxxx XXX Conversions You are eligible to convert all or any portion of your existing SIMPLE IRA into your Xxxx XXX, provided two years have passed since you first participated in a SIMPLE IRA plan sponsored by your employer. The amount of the conversion from your SIMPLE IRA to your Xxxx XXX will be treated as a distribution for income tax purposes and is includible in your gross income. Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a SIMPLE IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent early distribution penalty tax. If you are required to take a required minimum distribution for the year, you must remove your required minimum distribution before converting your SIMPLE IRA.

  • Traditional IRA-to-Xxxx XXX Conversions If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty tax. If you are required to take a required minimum distribution for the year, you must remove your required minimum distribution before converting your Traditional IRA.

  • Rollovers and Conversions Your IRA may be rolled over to another IRA of yours, or may receive rollover contributions. Your Traditional IRA or SIMPLE IRA may be 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 IRA from another IRA, or from your employer’s qualified retirement plan, 403(a) annuity plan, 403(b) tax-sheltered annuity, or 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan to your IRA. Conversion is a term used to describe the movement of Traditional or SIMPLE IRA assets to a Xxxx XXX. A conversion and employer-sponsored retirement plan rollover to a Xxxx XXX is generally a taxable event. The general rollover and conversion rules are summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a competent tax advisor.

  • Casual Conversion (a) A casual employee who has been rostered on a regular and systematic basis over a period of 26 weeks has the right to request conversion to permanent employment:

  • CLEC to CLEC Conversions for Unbundled Loops 2.1.11.1 The CLEC to CLEC conversion process for Loops may be used by ITC^DeltaCom when converting an existing Loop from another CLEC for the same End User. The Loop type being converted must be included in ITC^DeltaCom’s Agreement before requesting a conversion.

  • Mechanics of Conversion (1) Before any holder of Preferred Shares shall be entitled to convert the same into Ordinary Shares such holder shall surrender the certificate or certificates therefor at the Office and shall give written notice to the Company of the election to convert the same (or any part thereof) and shall state therein the name or names of any nominee for such holder in which the certificate or certificates for shares of Ordinary Shares are to be issued. The Company shall, as soon as practicable thereafter unless such notice states that conversion is to be effective on any later date or when any conditions specified in the notice have been fulfilled in which case conversion shall take effect on such other date or when such conditions have been fulfilled, issue and deliver at such office to such holder of Preferred Shares, or subject to the transfer restrictions contained in these Articles to the nominee or nominees of such holder, a certificate or certificates for the number of shares of Ordinary Shares to which such holder shall be entitled as aforesaid. Such conversion shall be deemed to have been made immediately prior to the close of business on the date of such surrender of the shares of Preferred Shares to be converted, or on any later date or when any conditions specified in the notice have been fulfilled and the person or persons entitled to receive the Ordinary Shares issuable upon such conversion shall be treated for all purposes as the record holder or holders of such Ordinary Shares as of such date. If the conversion is in connection with a QIPO, the conversion may, at the option of any holder tendering Preferred Shares for conversion, be conditioned upon the closing with the underwriter of the sale of securities pursuant to such offering, in which event the person(s) entitled to receive the Ordinary Shares issuable upon such conversion of the Preferred Shares shall not be deemed to have converted such Preferred Shares until immediately prior to the closing of such sale of securities. In the event that the certificate(s) representing the Preferred Shares to be converted as aforesaid are not delivered to the Company, then the Company shall not be obligated to issue any certificate(s) representing the Ordinary Shares issued upon such conversion, unless the holder of such Preferred Shares notifies the Company in writing that such certificate(s) have been lost, stolen or destroyed and executes an agreement satisfactory to the Company to indemnify the Company from any loss incurred by it in connection with such certificates.

  • Currency Conversions If you pay for goods and services in a currency other than the Denominated Currency, the amount payable will be converted at the relevant Card Network's reference exchange rate at the clearing time of the Card Transaction, and a foreign exchange fee will apply. The Card Network’s reference exchange rate, and a comparison as against the latest available foreign exchange rates issued by the European Central Bank, are outlined by Visa here and Mastercard here (as may be updated from time to time). The requirements in Article 3a(5) and (6) of Regulation (EC) No 924/2009 (as amended) will not apply for the purposes of these Stripe Issuing Accountholder Terms. When loading funds onto the Stripe Issuing Account and paying in a currency other than the Denominated Currency, the applicable exchange rate will be shown at the time of the Card Transaction. A loading foreign exchange fee will also apply.

  • Annual Conversion Once per fiscal year, an employee may elect to cash out annual leave in the amount of forty

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