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Definition of commuted in the Legal Dictionary — by Free online English dictionary and encyclopedia. What is commuted? Meaning of commuted as a legal term.
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What is commuted?
Commuted refers to the exchange of a future pension or annuity for a lump sum payment.
Who is required to file commuted?
Individuals who wish to exchange their future pension or annuity for a lump sum payment are required to file commuted.
How to fill out commuted?
Commuted can be filled out by submitting the necessary forms and documentation to the relevant pension or annuity provider.
What is the purpose of commuted?
The purpose of commuted is to provide individuals with the option to receive a lump sum payment in exchange for giving up future pension or annuity payments.
What information must be reported on commuted?
Information such as the amount of the lump sum payment, details of the pension or annuity being exchanged, and any tax implications must be reported on commuted.
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