Minimum Annual Distributions Sample Clauses

The Minimum Annual Distributions clause requires that a specified minimum amount be distributed to beneficiaries or stakeholders each year. Typically, this applies to trusts, investment funds, or similar arrangements, ensuring that a set portion of income or assets is paid out annually rather than retained. This clause helps prevent the accumulation of funds within the entity, ensuring regular benefit to recipients and often satisfying legal or tax requirements.
Minimum Annual Distributions. Notwithstanding any provision of this Agreement to the contrary, the distribution of Your interest in the Custodial Account shall be made in accordance with the following requirements and shall otherwise comply with Code sections 457(d)(2) and 401(a)(9), the provisions 10.3.1 During Your life, a required Distribution applies beginning the year You attain age 70½ or retire, whichever is later. However, You may wait until April 1 of the following year to begin taking Distributions. If You choose to wait until April 1 of the following year to begin Distributions, another Distribution is required by December 31 of the same year. You may elect, in a manner acceptable to Us, to have the balance in the Custodial Account distributed in: (a) A single sum or (b) Payments over a period not longer than the life of the Participant or the joint lives of the Participant and his or her designated Beneficiary. 10.3.2 If the Participant dies before his or her entire interest is distributed to him or her, the remaining interest will be distributed as follows: (a) If the Participant dies on or after the required beginning date: (i) If the designated Beneficiary is the Participant’s surviving spouse, the remaining interest will be distributed over the surviving spouse’s life expectancy as determined each year until such spouse’s death, or over the period in paragraph (a)(iii) below if longer. Any interest remaining after the spouse’s death will be distributed over such spouse’s remaining life expectancy as determined in the year of the spouse’s death and reduced by 1 for each subsequent year, or, if Distributions are being made over the period in paragraph (a)(iii) below, over such period. (ii) If the designated Beneficiary is not the Participant’s surviving spouse, the remaining interest will be distributed over the Beneficiary’s remaining life expectancy as determined in the year following the death of the Participant and reduced by 1 for each subsequent year, or over the period in paragraph (a)(iii) below if longer. (iii) If there is no designated Beneficiary (or if longer than the period under paragraph (a)(i) or (a)(ii)), the remaining interest will be distributed over the remaining life expectancy of the Participant as determined in the year of the Participant’s death and reduced by 1 for each subsequent year. (b) If the Participant dies before the required beginning date, the remaining interest will be distributed in accordance with (i) below or, if elected or there is ...
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Minimum Annual Distributions. Subject to the other provisions of this Operating Agreement and the Act, the aggregate amount of distributions distributed by the Company to each Member in any fiscal year pursuant to this Section 7.1 shall equal at least $65,000.
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Minimum Annual Distributions. During each taxable year of the Community Foundation, and subject to the provisions of article Ill above, the Community Foundation, subject to the procedures set forth herein, must distribute from the Fund to or for the benefit of one (1) or more Charitable Beneficiaries as determined above the minimum amount required by the governing instruments of the Community Foundation and by the Code and Treasury Regulations to maintain the Community Foundation as an organization (1) that is described in Section 501(c)(3) of the Code and (2) that is not a "private foundation" within the meaning of Section 509(a) of the Code. The minimum distributions required to be made during each taxable year pursuant to this paragraph A are hereafter referred to as the "Minimum Annual Distributions."
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Related to Minimum Annual Distributions

  • Final Distributions Upon the winding up of the LLC, the assets must be distributed as follows: (a) to the LLC creditors; (b) to Members in satisfaction of liabilities for distributions; and (c) to Members first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share in profits and losses.

  • Pro Rata Distributions During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, that, to the extent that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

  • Required Minimum Distributions You are required to take minimum distributions from your IRA at certain times in accordance with Treasury Regulation 1.408-8. Below is a summary of the IRA distribution rules. 1. If you were born before July 1, 1949, you are required to take a minimum distribution from your IRA for the year in which you reach age 70½ and for each year thereafter. You must take your first distribution by your required beginning date, which is April 1 of the year following the year you attain age 70½. If you were born on or after July 1, 1949, you are required to take a minimum distribution from your IRA for the year in which you reach age 72 and for each year thereafter. You must take your first distribution by your required beginning date, which is April 1 of the year following the year you attain age 72. The minimum distribution for any taxable year is equal to the amount obtained by dividing the account balance at the end of the prior year by the applicable divisor. 2. The applicable divisor generally is determined using the Uniform Lifetime Table provided by the IRS. If your spouse is your sole designated beneficiary for the entire calendar year, and is more than 10 years younger than you, the required minimum distribution is determined each year using the actual joint life expectancy of you and your spouse obtained from the Joint Life Expectancy Table provided by the IRS, rather than the life expectancy divisor from the Uniform Lifetime Table. We reserve the right to do any one of the following by your required beginning date. (a) Make no distribution until you give us a proper withdrawal request (b) Distribute your entire IRA to you in a single sum payment (c) Determine your required minimum distribution each year based on your life expectancy calculated using the Uniform Lifetime Table, and pay those distributions to you until you direct otherwise If you fail to remove a required minimum distribution, an additional penalty tax of 50 percent is imposed on the amount of the required minimum distribution that should have been taken but was not. You must file IRS Form 5329 along with your income tax return to report and remit any additional taxes to the IRS.