Sentences with phrase «qualified beneficiaries by»

Not exact matches

If the beneficiary turns age 30 before withdrawing the funds, they may avoid taxation by transferring the account to another qualifying relative or by rolling the ESA into a 529 Plan.

If LDAP payments don't start by age 60, the beneficiary will no longer qualify for the Disability Tax Credit.

Although the rules provide that a RDSP has to be terminated by the end of the year following the year the beneficiary ceases to qualify for the DTC, the plan may be able to remain open if a medical practitioner certifies that it is likely that the beneficiary will be eligible for the DTC again in the foreseeable future.

But the amount of CDSG or CDSB a beneficiary can qualify for depends on family income, defined by the beneficiary's age.

(i) In general In the case of an individual who is an eligible student (as defined in section 25A (b)(3)-RRB- for any academic period, such term shall also include reasonable costs for such period (as determined under the qualified tuition program) incurred by the designated beneficiary for room and board while attending such institution.

The contribution and termination period is extended by 10 years for beneficiaries who qualify for the disability tax credit (see topic 80).

In addition to children or grandchildren related by blood, a child or grandchild who is adopted qualifies as a beneficiary for a family RESP.

A qualified beneficiary will include a spouse or dependent child who was covered at the time of qualified event or a dependent child born to or adopted by the covered employee during the COBRA period.

Most qualified expenses can not exceed the cost estimates made by the school that the 529 beneficiary will be attending.

The purchase of computer technology, equipment, or Internet access and related services is a qualified elementary and secondary education expense if it is to be used by the beneficiary and the beneficiary's family during any of the years the beneficiary is in elementary or secondary school.

Life Insurance Gifts: Make Best Friends Animal Sanctuary the owner and beneficiary of a life insurance policy Retirement Plans: Donate your interest in an IRA or other qualified savings plan If you are considering a gift or would like more information, please email us at [email protected] or to contact us by phone, please call [phone].

For instance, beneficiaries can get walloped by the IRS when they inherit IRAs, tax - deferred annuities and qualified retirement plans.

The applicant will have to qualify by supplying the best reply to a few pre-determined questions, but after that, the insured person and their beneficiaries can expect to take pleasure from the exact same premiums and benefits for any other countries in the insured person's life.