Common use of Required Minimum Distributions Clause in Contracts

Required Minimum Distributions. The Custodian will send the Depositor a notice each year the Depositor is subject to the requirements of Article IV. Such notice will include the distribution deadline and will inform the Depositor of the required minimum distribution (RMD) amount or provide guidance to the Depositor on how to contact the Custodian for assistance in determining the RMD amount. The Custodian reserves the right to determine each year the method of providing the RMD notice. The RMD amount, if provided, may be calculated using the uniform lifetime table in Regulations section 1.401(a)(9)-9. However, if the Depositor’s spouse is the sole designated beneficiary for the entire distribution year and is more than 10 years younger than the Depositor, the Depositor’s minimum amount required to be distributed by the Depositor is an amount calculated using the joint and last survivor table in Regulations section 1.401(a)(9)-9. The Custodian will not be liable for and the Depositor will indemnify and hold the Custodian harmless for any adverse consequences and/or penalties resulting from the Depositor's actions or inactions (including errors in calculations resulting from reliance on information provided by the Depositor) with respect to determining such RMDs.

Required Minimum Distributions. The Custodian will send the Depositor Participant a notice each year the Depositor Participant is subject to the requirements of Article IV. Such notice will include the distribution deadline and will inform the Depositor Participant of the required minimum distribution (RMD) amount or provide guidance to the Depositor Participant on how to contact the Custodian for assistance in determining the RMD amount. The Custodian reserves the right to determine each year the method of providing the RMD notice. The RMD amount, if provided, may be calculated using the uniform lifetime table in Regulations section 1.401(a)(9)-9. However, if the DepositorParticipant’s spouse is the sole designated beneficiary for the entire distribution year and is more than 10 years younger than the DepositorParticipant, the DepositorParticipant’s minimum amount required to be distributed by the Depositor Participant is an amount calculated using the joint and last survivor table in Regulations section 1.401(a)(9)-9. The Custodian will not be liable for and the Depositor Participant will indemnify and hold the Custodian harmless for any adverse consequences and/or penalties resulting from the DepositorParticipant's actions or inactions (including errors in calculations resulting from reliance on information provided by the DepositorParticipant) with respect to determining such RMDs.

Required Minimum Distributions. The Custodian will send the Depositor a notice each year the Depositor is subject to the requirements of Article IV. Such notice will include the distribution deadline and will inform the Depositor of the required minimum distribution (RMD) amount or provide guidance to the Depositor on how to contact the Custodian for assistance in determining the RMD amount. The Custodian reserves the right to determine each year the method of providing the RMD notice. The RMD amount, if provided, may be calculated using the uniform lifetime table in Regulations section 1.401(a)(9)-91.401(a)(9)‐9. However, if the Depositor’s spouse is the sole designated beneficiary for the entire distribution year and is more than 10 years younger than the Depositor, the Depositor’s minimum amount required to be distributed by the Depositor is an amount calculated using the joint and last survivor table in Regulations section 1.401(a)(9)-91.401(a)(9)‐9. The Custodian will not be liable for and the Depositor will indemnify and hold the Custodian harmless for any adverse consequences and/or penalties resulting from the Depositor's actions or inactions (including errors in calculations resulting from reliance on information provided by the Depositor) with respect to determining such RMDs.