Common use of Authority of Sponsor Clause in Contracts

Authority of Sponsor. As sponsor, Folio has the authority to remove and appoint a new custodian of your SIMPLE IRA upon 30 days advance notice to you. As sponsor, Folio also has the authority to amend your SIMPLE IRA in any respect and at any time consistent with the existing terms of this SIMPLE IRA Custodial Account Agreement. IRS FORM 5305-SA INSTRUCTIONS (Rev. 3-2002) General Instructions Purpose of Form Do not file Form 5305-SA with the IRS. Instead, keep it with your records.

Authority of Sponsor. As sponsor, Folio has the authority to remove and appoint a new custodian of your SIMPLE IRA upon 30 days advance notice to you. As sponsor, Folio also has the authority to amend your SIMPLE IRA in any respect and at any time consistent with the existing terms of this SIMPLE IRA Custodial Account Agreement. IRS FORM 5305-SA A INSTRUCTIONS (Rev. 3-2002) General Instructions Purpose of Form Do not file Form 5305-SA A with the IRS. Instead, keep it with your records.