Recharacterized Contributions Clause Samples

The Recharacterized Contributions clause defines how certain payments or transfers, initially classified under one category, may be reclassified as contributions for legal or tax purposes. In practice, this clause applies when a party's payment, intended as a loan or another form of funding, is later determined by authorities or agreement to be a capital contribution instead. This ensures that the parties are clear on the consequences of such reclassification, such as changes in ownership percentages or tax treatment, thereby preventing disputes and aligning the parties' expectations with regulatory requirements.
Recharacterized Contributions. You may elect, in a form and manner acceptable to the Custodian, to transfer (“recharacterize”) via a trustee-to-trustee transfer of assets any annual contribution in your IRA (the “Initial IRA”), to a ▇▇▇▇ ▇▇▇ (“the Second IRA”), or vice versa. You may also elect to recharacterize an amount converted to a ▇▇▇▇ ▇▇▇ back to your IRA. Any net income attributable to a contribution or conversion that is recharacterized must be transferred to your Second IRA. The election to recharacterize any contribution and the trustee-to-trustee transfer must be completed on or before the due date, including extensions, for filing your Federal income tax return (generally, April 15th) for the year for which the contribution to the Initial IRA relates. The amount(s) that is recharacterized is treated as having been originally contributed to your Second IRA on the same date and for the same taxable year that the amount was contributed to your Initial IRA. You may not reconvert an amount previously converted and recharacterized before the later of January 1 of the taxable year following the taxable year in which the conversion is made, or the end of the thirty (30) day period beginning on the day a recharacterization
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Recharacterized Contributions. You may elect, in a form and manner acceptable to the Custodian, to transfer (“recharacterize”) via a trustee- to-trustee transfer of assets any annual contribution in your ▇▇▇ (the “Initial ▇▇▇”), to a ▇▇▇▇ ▇▇▇ (“the Second ▇▇▇”), or vice versa. You may also elect to recharacterize an amount converted to a ▇▇▇▇ ▇▇▇ back to your ▇▇▇. Any net income attributable to a contribution or conversion that is recharacterized must be transferred to your Second ▇▇▇. The election to recharacterize any contribution and the trustee-to-trustee transfer must be completed on or before the due date, including extensions, for filing your Federal income tax return (generally, April
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Recharacterized Contributions. You may elect, in a form and manner acceptable to the Custodian, to transfer (“recharacterize”) via a trustee- to-trustee transfer of assets any contribution in your ▇▇▇▇ ▇▇▇ (the “Initial IRA”), to another IRA (“the Second IRA”), or vice versa. Any net income attributable to a contribution that is recharacterized must be transferred to the Second IRA. You may also elect to recharacterize an amount converted to your ▇▇▇▇ ▇▇▇ back to an IRA. The election to recharacterize any contribution and the trustee-to-trustee transfer must be completed on or before the due date (generally April 15), including extensions, for filing your federal income tax return for the year for which the contribution to the Initial IRA relates. The amount(s) that is recharacterized is treated as having been originally contributed to the Second IRA on the same date and for the same taxable year that the amount was contributed to the your Initial IRA. You may not reconvert an amount previously converted and recharacterized before the later
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Recharacterized Contributions. You may elect, in a form and manner acceptable to the Custodian, to transfer (“recharacterize”) via a trustee-to-trustee transfer of assets any contribution in your ▇▇▇▇ ▇▇▇ (the “Initial ▇▇▇”), to another ▇▇▇ (“the Second ▇▇▇”), or vice versa. Any net income attributable to a contribution that is recharacterized must be transferred to the Second ▇▇▇. You may also elect to recharacterize an amount converted to your ▇▇▇▇ ▇▇▇ back to an ▇▇▇. The election to recharacterize any contribution and the trustee-to-trustee transfer must be completed on or before the due date (generally April 15), including extensions, for filing your Federal income tax return for the year for which the contribution to the Initial ▇▇▇ relates. The amount(s) that is recharacterized is treated as having been originally contributed to the Second ▇▇▇ on the same date and for the same taxable year that the amount was contributed to the your Initial ▇▇▇. You may not reconvert an amount previously converted and recharacterized before the later of January 1 of the taxable year following the taxable year in which the conversion is made, or the end of the thirty (30) day period beginning on the day a recharacterization is transferred back to the Initial ▇▇▇.
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Related to Recharacterized Contributions

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.

  • Rollover Contributions An amount which qualifies as a rollover contribution pursuant to the Federal Internal Revenue Code may be transferred to and paid under this contract as a contribution for a Participant. Prudential may require proof that the amount paid so qualifies.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • User Contributions The Website may contain message boards, chat rooms, personal web pages or profiles, forums, bulletin boards, and other interactive features (collectively, "Interactive Services") that allow users to post, submit, publish, display, or transmit to other users or other persons (hereinafter, "post") content or materials (collectively, "User Contributions") on or through the Website. All User Contributions must comply with these Terms of Use. Any User Contribution you post to the site will be considered non-confidential and non- proprietary. By providing any User Contribution on the Website, you grant us and our affiliates and service providers, and each of their and our respective licensees, successors, and assigns the right to use, reproduce, modify, perform, display, distribute, and otherwise disclose to third parties any such material. You represent and warrant that: • You own or control all rights in and to the User Contributions and have the right to grant the license granted above to us and our affiliates and service providers, and each of their and our respective licensees, successors, and assigns. • All of your User Contributions do and will comply with these Terms of Use. You understand and acknowledge that you are responsible for any User Contributions you submit or contribute, and you, not the Company, have full responsibility for such content, including its legality, reliability, accuracy, and appropriateness. We are not responsible or liable to any third party for the content or accuracy of any User Contributions posted by you or any other user of the Website.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.