Premature Distributions. You can elect to receive distribution from your Account at any time. However, if you receive a distribution from your IRA before you attain the age of 59½, the distribution will be considered premature and subject to a 10% penalty tax on the taxable portion of the distributed amount unless one of the following exceptions applies:
Appears in 2 contracts
Sources: Individual Retirement Account Adoption Agreement, Individual Retirement Account Adoption Agreement
Premature Distributions. You can elect to receive distribution from your Account at any time. However, if you receive a distribution from your IRA ▇▇▇ before you attain the age of 59½, the distribution will be considered premature and subject to a 10% penalty tax on the taxable portion of the distributed amount unless one of the following exceptions applies:
Appears in 1 contract
Sources: Roth Individual Retirement Account Custodial Agreement