SIMPLE Individual Retirement Custodial Account Sample Clauses

SIMPLE Individual Retirement Custodial Account. (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement:
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SIMPLE Individual Retirement Custodial Account. (Under section 408(p) of the Internal Revenue Code) Do not File Form 5305-SA (April 2017) Department of the Treasury Internal Revenue Service With the Internal Check if transfer SIMPLE IRA l The participant and the custodian make the following agreement: Revenue Service Check if amendment l
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SIMPLE Individual Retirement Custodial Account. (Under section 408(p) of the Internal Revenue Code) Form 5305-SA (Rev. April 2017) Department of the Treasury, Internal Revenue Service. Do not file with the Internal Revenue Service.
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SIMPLE Individual Retirement Custodial Account. (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement: Article I The custodian will accept cash contributions made on behalf of the participant by the participant’s employer under the terms of a SIMPLE IRA plan described in section 408(p). In addition, the custodian will accept transfers or rollovers from other SIMPLE IRAs of the participant and, after the 2-year period of participation defined in section 72(t)(6), transfers or rollovers from any eligible retirement plan (as defined in section 402(c) (8)(B)) other than a Xxxx XXX or a designated Xxxx account. No other contributions will be accepted by the custodian.
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SIMPLE Individual Retirement Custodial Account. Agreement
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SIMPLE Individual Retirement Custodial Account. In the event of my death, pay any interest I may have under my account to the following primary beneficiary or beneficiaries who survive me. Make payment in the proportions specified below (or in equal proportions if no different proportions are specified). If any primary beneficiary predeceases me, their share is to be divided among the primary beneficiaries who survive me in the relative proportions assigned to each such surviving primary beneficiary. To be valid, proportion must total 100%. Primary Beneficiaries: Name Relationship Date of Birth Social Security Number Proportion % Name Relationship Date of Birth Social Security Number Proportion % If none of the primary beneficiaries survives me, pay any interest I may have under my account to the following alternate beneficiary or beneficiaries who survive me. Make payment in the proportions specified below (or in equal proportions if no different proportions are specified). If any alternate beneficiary Xxxxxxxxx Investment Management predeceases me, their share is to be divided among the alternate beneficiaries who survive me in the relative proportions assigned to each such surviving alternate beneficiary. Alternate Beneficiaries: Name Relationship Date of Birth Social Security Number Proportion IMPORTANT: This designation of beneficiary may have important tax or estate planning effects. If you cannot accomplish your estate planning objectives by using this Part 8 to designate your beneficiary(ies) (for example, if you wish to provide that the surviving children of a beneficiary who predeceases you should take that beneficiary’s share by right of representation), you may submit another form of written beneficiary designation to the custodian. Also, if you are married and reside in a community property or marital property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Wash- ington or Wisconsin), you may need to obtain your spouse’s consent if you have not designated your spouse as primary beneficiary for at least half of your account. See your lawyer or other tax professional for additional information and advice. Spousal Consent This section should be reviewed if the participant is married and designates a beneficiary other than the spouse. It is the participant’s responsibility to determine if this section applies. The participant may need to consult with legal counsel. Neither the custodian nor the sponsor are liable for any conse- quences resulting from a failure of the pa...
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SIMPLE Individual Retirement Custodial Account. Department of the Treasury (under Sections 408(a) and 408(p) of the Internal Revenue Code) Internal Revenue Service
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SIMPLE Individual Retirement Custodial Account the requirements of Section 408(h) of the Code. Upon receipt Th(Uendpearrtsiecciptiaonnt40n8a(mp)eodf thaeboInvteernisal eRsetvaebnliusehiCnogdea) savings by the Custodian of written acceptance of such appointment by the successor custodian, the Custodian shall transfer and pay over to such successor the assets of and records relating to the custodial account. The Custodian is authorized, however, to reserve such sum of money as it may deem advisable for payment of all its fees, compensation, costs and expenses, or for payment of any other liability constituting a charge on or against the assets of the custodial account or on or against the Custodian, and where necessary may liquidate shares in the custodial account for such payments. Any balance of such reserve remaining after the payment of all such items shall be paid over to the successor custodian. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trustee.
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Related to SIMPLE Individual Retirement Custodial Account

  • ▇▇▇▇ Individual Retirement Custodial Account The following constitutes an agreement establishing a Xxxx XXX (under Section 408A of the Internal Revenue Code) between the depositor and the Custodian.

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date): (a) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (b) all payments on account of interest on the Mortgage Loans adjusted to the related Mortgage Loan Remittance Rate; (c) all Liquidation Proceeds; (d) all proceeds received by the Seller under any title insurance policy, hazard insurance policy, Primary Mortgage Insurance Policy or other insurance policy other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or released to the Mortgagor in accordance with Customary Servicing Procedures; (e) all awards or settlements in respect of condemnation proceedings or eminent domain affecting any Mortgaged Property which are not released to the Mortgagor in accordance with Customary Servicing Procedures; (f) any amount required to be deposited in the Custodial Account pursuant to Subsections 11.15 and 11.19; (g) any amount required to be deposited by the Seller in connection with any REO Property pursuant to Subsection 11.13; (h) all amounts required to be deposited by the Seller in connection with shortfalls in principal amount of Substitute Mortgage Loans pursuant to Subsection 7.03; (i) with respect to each Full Prepayment and each Partial Prepayment, an amount (to be paid by the Seller out of its own funds) equal to the Prepayment Interest Shortfall; provided, however, that the Seller’s aggregate obligations under this paragraph for any month shall be limited to the total amount of Servicing Fees actually received with respect to the Mortgage Loans by the Seller during such month; and (j) amounts required to be deposited by the Seller in connection with the deductible clause of any hazard insurance policy. The foregoing requirements for deposit in the Custodial Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges, assumption fees and other ancillary fees need not be deposited by the Seller in the Custodial Account. The Seller may invest the funds in the Custodial Account in Eligible Investments designated in the name of the Seller for the benefit of the Purchaser, which shall mature not later than the Business Day next preceding the earlier of (i) the Servicing Transfer Date or (ii) the Remittance Date next following the date of such investment (except that (A) any investment in the institution with which the Custodial Account is maintained may mature on the Servicing Transfer Date or such Remittance Date, as applicable, and (B) any other investment may mature on the Servicing Transfer Date or such Remittance Date, as applicable, if the Seller shall advance funds on the Servicing Transfer Date or such Remittance Date, as applicable, pending receipt thereof to the extent necessary to make distributions to the Purchaser) and shall not be sold or disposed of prior to maturity. Notwithstanding anything to the contrary herein and above, all income and gain realized from any such investment shall be for the benefit of the Seller and shall be subject to withdrawal by the Seller. The amount of any losses incurred in respect of any such investments shall be deposited in the Custodial Account by the Seller out of its own funds immediately as realized.

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

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