Death on or After Required Beginning Date Sample Clauses

Death on or After Required Beginning Date. If the Traditional IRA Owner dies on or after the required beginning date, the remaining portion of his or her interest will be distributed at least as rapidly as follows. 1. If the Designated Beneficiary is someone other than the Traditional IRA Owner’s surviving spouse, the remaining interest will be distributed over the remaining life expectancy of the Designated Beneficiary, with such life expectancy determined using the Beneficiary’s age as of his or her birthday in the year following the year of the Traditional IRA Owner’s death, or over the period described in Section 3.03(A)(3) of this Agreement if longer. 2. If the Traditional IRA Owner’s sole Designated Beneficiary is the Traditional IRA Owner’s surviving spouse, the remaining interest will be distributed over such spouse’s life expectancy or over the period described in Section 3.03(A)(3) of this Agreement if longer. Any interest remaining after such spouse’s death will be distributed over such spouse’s remaining life expectancy determined using the spouse’s age as of his or her birthday in the year of the spouse’s death, or, if the distributions are being made over the period described in Section 3.03(A)(3) of this Agreement, over such period. 3. If there is no Designated Beneficiary, or if applicable by operation of Section 3.03(A)(1) or (A)(2) of this Agreement, the remaining interest will be distributed over the Traditional IRA Owner’s remaining life expectancy determined in the year of the Traditional IRA Owner’s death. 4. The amount to be distributed each year under Section 3.03(A)(1), (2), or (3) of this Agreement, beginning with the calendar year following the calendar year of the Traditional IRA Owner’s death, is the quotient obtained by dividing the value of the Traditional IRA as of the end of the preceding year by the remaining life expectancy specified in Section
View SourceView Similar (65)
Death on or After Required Beginning Date. If the individual dies on or after the Required Beginning Date, his or her remaining interest will be distributed at least as rapidly as follows:
View SourceView Similar (3)
Death on or After Required Beginning Date. If the Participant dies on or after the required beginning date, the remaining portion of his or her interest will be distributed in an amount at least equal to the following: (i) If the Beneficiary is someone other than the Participant’s surviving spouse, the remaining interest will be distributed over the remaining life expectancy of the Beneficiary, with such life expectancy determined using the beneficiary’s age as of his or her birthday in the year following the year of the Participant’s death, or over the period described in paragraph (c)
View SourceView Similar (3)
Death on or After Required Beginning Date. If the Participant dies on or after the Required Beginning Date, then the remaining assets in the Custodial Account must be distributed at least as rapidly as (1), (2), or (3), as follows
View Source
Death on or After Required Beginning Date. If the Account Owner dies on or after the Required Beginning Date, a beneficiary must withdraw at least a minimum amount of his portion of the Account by December 31 of the year following the year of the Account Owner’s death and each subsequent year. The minimum amount is determined by dividing the balance of the beneficiary’s portion of the Account as of December 31 of the preceding year by a distribution period factor. The distribution period factor for the first year following the year of the Account Owner’s death will equal the beneficiary’s life expectancy under life expectancy tables under Treasury Regulation Section 1.401(a)(9)-9, or any successor thereto, using the beneficiary’s age as of his birthday in that year. Alternatively, if the beneficiary is at least the age of the Account Owner or is not an individual, the distribution period factor for the first year is determined using the Account Owner’s age as of his birthday in the calendar year of the Account Owner’s death. For each subsequent year, the prior year’s distribution period factor is reduced by one. Notwithstanding the foregoing, if the beneficiary is the Account Owner’s spouse, the distribution period factor may be recalculated for each subsequent year using the spouse’s age as of the spouse’s birthday in that year during the spouse’s lifetime, and for each year following the year of the spouse’s death, the prior year’s life expectancy factor is reduced by one.
View Source

Related to Death on or After Required Beginning Date

  • Required Beginning Date The Participant’s entire interest will be distributed, or begin to be distributed, to the Participant no later than the Participant’s required beginning date.

  • Starting Date Unless a specific (fixed) starting date is duly justified and agreed upon during the preparation of the Grant Agreement, the project will start on the first day of the month following the entry info force of the Grant Agreement (NB : entry into force = signature by the Commission). Please note that if a fixed starting date is used, you will be required to provide a detailed justification on a separate note.

  • Tax Periods Beginning Before and Ending After the Closing Date The Company or the Purchaser shall prepare or cause to be prepared and file or cause to be filed any Returns of the Company for Tax periods that begin before the Closing Date and end after the Closing Date. To the extent such Taxes are not fully reserved for in the Company’s financial statements, the Sellers shall pay to the Company an amount equal to the unreserved portion of such Taxes that relates to the portion of the Tax period ending on the Closing Date. Such payment, if any, shall be paid by the Sellers within fifteen (15) days after receipt of written notice from the Company or the Purchaser that such Taxes were paid by the Company or the Purchaser for a period beginning prior to the Closing Date. For purposes of this Section, in the case of any Taxes that are imposed on a periodic basis and are payable for a Taxable period that includes (but does not end on) the Closing Date, the portion of such Tax that relates to the portion of such Tax period ending on the Closing Date shall (i) in the case of any Taxes other than Taxes based upon or related to income or receipts, be deemed to be the amount of such Tax for the entire Tax period multiplied by a fraction the numerator of which is the number of days in the Tax period ending on the Closing Date and the denominator of which is the number of days in the entire Tax period (the “Pro Rata Amount”), and (ii) in the case of any Tax based upon or related to income or receipts, be deemed equal to the amount that would be payable if the relevant Tax period ended on the Closing Date. The Sellers shall pay to the Company with the payment of any taxes due hereunder, the Sellers’ Pro Rata Amount of the costs and expenses incurred by the Purchaser or the Company in the preparation and filing of the Tax Returns. Any net operating losses or credits relating to a Tax period that begins before and ends after the Closing Date shall be taken into account as though the relevant Tax period ended on the Closing Date. All determinations necessary to give effect to the foregoing allocations shall be made in a reasonable manner as agreed to by the parties.

  • 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.

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.02(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or the Government Employees Compensation Act prevents her from receiving Employment Insurance or Québec Parental Insurance Plan maternity benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.02(a), other than those specified in sections (A) and (B) of subparagraph 17.02(a)(iii), shall be paid, in respect of each week of maternity allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of her weekly rate of pay and the gross amount of her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.02 for a combined period of no more than the number of weeks during which she would have been eligible for maternity benefits under the Employment Insurance or Québec Parental Insurance Plan had she not been disqualified from Employment Insurance or Québec Parental Insurance maternity benefits for the reasons described in subparagraph (a)(i).