Sentences with phrase «distribute the assets within»

Penalty May Be Waived by Switching to the Five - Year Option If the retirement account owner died before the required beginning date (RBD), the beneficiary may be required to distribute the assets within five years or over his or her life expectancy.

«If you do not meet one of the criteria — for example, if you fail to distribute all assets within one tax year — your NUA election will be disqualified, and you would owe ordinary income taxes and any penalty on the entire amount of the company stock distribution.»

Not exact matches

By failing to name a person as your beneficiary, your heirs lose that ability to stretch and must distribute the IRA assets within five years, Frye said.

If the Trustee resigns and no successor trustee is appointed within 60 days after the date the Trustee issues its notice of resignation, the Trustee will terminate and liquidate the Trust and distribute its remaining assets.

Upon dissolution or winding up of said corporation's affairs, whether voluntary or involuntary, all of its assets then remaining in the hands of the board of directors shall, after paying or making provision for payment of all of said corporation's liabilities, be distributed, transferred, conveyed, delivered, and paid over only to educational, scientific, literary, or charitable organizations that are exempt from federal income tax under section 501 (c)(3) of the Internal Revenue Code of 1986, as amended, and which are not private foundations within the meaning of section 509 (a) of the Internal Revenue Code of 1986, as amended, on whatever terms and conditions and in whatever amounts the board of directors may determine, for use exclusively for educational, scientific, literary, or charitable purposes, except that no distribution shall be made to organizations testing for public safety.

In the event of the dissolution of the Club, voluntary or involuntary by operation of law, none of the property of the Club nor any proceeds thereof, nor any assets of the Club shall be distributed to any members of the Club; but after payment of the debts of the Club, except in the case of a dissolution for the purpose of all immediate reorganization of the Club, the Board of Directors shall give the property and assets of the Club to one or more charitable organizations within the United States for the benefit of dogs.

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