Terms Used In Idaho Code 33-5405

• Account: means an individual trust account or savings account established as prescribed in this chapter. See Idaho Code 33-5401
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Nonqualified withdrawal: means a withdrawal from an account that is subject to additional tax arising from the withdrawal under the Internal Revenue Code, as defined in section 63-3004, Idaho Code. See Idaho Code 33-5401
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}