Specific Instructions. The depositor may be subject to a six percent tax on excess contributions if (1) contributions to other individual retirement arrangements of the depositor have been made for the same tax year, (2) the depositor’s adjusted gross income exceeds the applicable limits in Article II for the tax year, or (3) the depositor’s and spouse’s compensation is less than the amount contributed by or on behalf of them for the tax year.
Appears in 11 contracts
Sources: Roth Individual Retirement Custodial Account Agreement, Roth Individual Retirement Custodial Account Agreement, Roth Individual Retirement Custodial Account Agreement
Specific Instructions. The depositor Depositor may be subject to a six percent 6% tax on excess contributions if (1i) contributions to other individual retirement arrangements of the depositor Depositor have been made for the same tax year, (2ii) the depositorDepositor’s adjusted gross income exceeds the applicable limits in Article II for the tax year, or (3iii) the depositorDepositor’s and spouse’s compensation is less than the amount contributed by or on behalf of them for the tax year.
Appears in 3 contracts
Sources: Traditional Individual Retirement Custodial Account Agreement, Traditional Individual Retirement Custodial Account Agreement, Traditional Individual Retirement Custodial Account Agreement
Specific Instructions. The depositor Depositor may be subject to a six percent 6% tax on excess contributions if (1) contributions to other individual retirement arrangements of the depositor Depositor have been made for the same tax year, (2) the depositor’s Depositor's adjusted gross income exceeds the applicable limits in Article II for the tax year, or (3) the depositor’s Depositor's and spouse’s 's compensation is less than the amount contributed by or on behalf of them for the tax year.
Appears in 2 contracts
Sources: Custodial Agreement, Custodial Agreement
Specific Instructions. The depositor Depositor may be subject to a six percent 6% tax on excess contributions if (1) contributions to other individual retirement arrangements of the depositor Depositor have been made for the same tax year, (2) the depositorDepositor’s adjusted gross income exceeds the applicable limits in Article II for the tax year, or (3) the depositorDepositor’s and spouse’s compensation is less than the amount contributed by or on behalf of them for the tax year.
Appears in 2 contracts
Sources: Roth Individual Retirement Account Custodial Agreement, Roth Ira Account Application & Agreement
Specific Instructions. The depositor may be subject to a six percent tax on excess contributions if (1) contributions to other individual retirement arrangements of the depositor have been made for the same tax year, (2) the depositor’s adjusted gross income exceeds the applicable limits in Article II for the tax year, or (3) the depositor’s and spouse’s compensation is less than the amount contributed by or on behalf of them for the tax year.,
Appears in 1 contract
Sources: Roth Individual Retirement Account Application/Adoption Agreement
Specific Instructions. The depositor Depositor may be subject to a six percent 6% tax on excess contributions if (1) contributions to other individual retirement arrangements of the depositor Depositor have been made for the same tax year, (2) the depositorDepositor’s adjusted gross income exceeds the applicable limits in Article II for the tax year, or (3) the depositorDepositor’s and spouse’s compensation is less than the amount contributed by or on behalf of them for the tax year. The Depositor should see the disclosure statement or Pub. 590 for more information.
Appears in 1 contract
Sources: Roth Individual Retirement Account Custodial Agreement
Specific Instructions. The depositor Depositor may be subject to a six 6 percent tax on excess contributions if (1) contributions to other individual retirement arrangements of the depositor Depositor have been made for the same tax year, (2) the depositor’s Depositor's adjusted gross income exceeds the applicable limits in Article II for the tax year, or (3) the depositor’s Depositor's and spouse’s 's compensation is less than does not exceed the amount contributed by or on behalf of for them for the tax year. The Depositor should see the disclosure statement or Pub. 590 for more information.
Appears in 1 contract
Sources: Custodial Account Agreement (National Investors Cash Management Fund Inc)
Specific Instructions. The depositor Depositor may be subject to a six percent 6% tax on excess contributions if (1) contributions to other individual retirement arrangements of the depositor Depositor have been made for the same tax year, (2) the depositor’s Depositor's adjusted gross income exceeds the applicable limits in Article II for the tax year, or (3) the depositor’s Depositor's and spouse’s 's compensation is less than the amount contributed by or on behalf of them for the tax year. The Depositor should see the disclosure statement or Pub. 590-A and Pub. 590-B for more information.
Appears in 1 contract
Sources: Roth Individual Retirement Account Custodial Agreement
Specific Instructions. The depositor Depositor may be subject to a six percent 6% tax on excess contributions if (1) contributions to other individual retirement arrangements of the depositor Depositor have been made for the same tax year, (2) the depositorDepositor’s adjusted gross income exceeds the applicable limits in Article II for the tax year, or (3) the depositorDepositor’s and spouse’s compensation is less than the amount contributed by or on behalf of them for the tax year. The Depositor should see the Disclosure Statement or Pub. 590 for more information.
Appears in 1 contract
Sources: Custodial Agreement