CISP key terms

An individual retirement arrangement whose contribution and distribution treatment depends on the applicable tax conditions rather than the account name alone.

An individual retirement arrangement with its own contribution and qualified-distribution conditions, distinct from assuming every withdrawal is automatically tax-free.

An account held under a custodial arrangement, distinguished from a trust agreement or a guarantee of a particular investment return.

An individual retirement arrangement established through the relevant trust agreement, with duties distinct from merely recommending an investment.

An amount added to an arrangement under its applicable eligibility and limit rules, distinguished from every transfer or distribution.

The tax treatment of an eligible amount under the relevant conditions, which does not follow solely from acceptance by a custodian.

A contribution for which the applicable deduction is not taken, requiring attention to basis and later tax treatment.

An amount relevant to determining taxable treatment under the applicable framework, distinguished from assuming the whole account balance has one tax character.

A movement under the relevant direct-transfer process, whose treatment should be distinguished from a distribution paid to the owner.

A movement meeting the applicable rollover conditions, rather than any withdrawal followed by an arbitrary deposit into another account.

A transaction changing the relevant retirement arrangement treatment under its conditions, potentially involving tax even where cash is not spent.

A required distribution determined under the applicable account, cohort and beneficiary rules, distinguished from a voluntary planning withdrawal.

A person or entity designated or determined to receive relevant account benefits, whose status can affect post-death distribution treatment.

An IRA-related arrangement following an owner death, whose treatment depends on beneficiary status and other applicable conditions.

A tax imposed under a specified rule in addition to other possible tax consequences, whose exception does not automatically remove ordinary income tax.

Collection through a payer under the relevant rules and instructions, distinguished from a final determination of the owner annual tax liability.

The identification of the period to which an amount relates, which can differ from assuming every transaction belongs to the calendar year of processing.

The record and reporting of an account payment under its actual transaction classification, rather than the owner preferred tax result.

A comparison of transactions, classifications and balances with supporting records so that omissions and inconsistencies can be identified.

The scope of permission to process or communicate account matters, distinguished from unrestricted investment or tax-advice authority.