Complete the Education IRA Adoption Agreement Sample Clauses

Complete the Education IRA Adoption Agreement o In Part 1, provide all of the requested information about the Student for whose benefit the Education IRA is being opened. The Student must be under age 18 for an Annual Contribution Education IRA, or under age 30 for a Rollover or Transfer from another Education IRA. o In Part 2, provide the requested information about the Parent or Guardian who will control the Account on behalf of any Student who has not yet reached the age of majority in his state of residence. (Leave blank if inapplicable.) Indicate status (mother, father, guardian). If "guardian," written proof of guardianship must accompany this form. The Parent's Social Security Number is optional. Only one person may be listed as the "Parent" in Part 2, even though the Student lives with both parents, or even if such person is actually the Student's guardian. In these materials, the term "Parent" refers to a parent or guardian who is listed in Part 2. NOTE: CONTRIBUTIONS BENEFITING A PARTICULAR STUDENT ARE LIMITED TO $500 PER YEAR. IF NECESSARY, THE PARENT SHOULD CHECK WITH ANY OTHER PARENT OR GUARDIAN OF THE STUDENT TO ENSURE THAT CONTRIBUTIONS FOR A YEAR ON THAT STUDENT'S BEHALF (FROM ALL OTHER SOURCES) DO NOT EXCEED THE MAXIMUM LIMIT. o In Part 3, provide the requested information about the Donor. The Donor is the individual making a contribution to the Account and must sign this Agreement where indicated. The Student or Parent can be the Donor. Once the Donor has made the contribution and selected the initial investments, the Donor has no further rights or responsibilities related to the Account, unless the Donor is the Student or Parent. If no Donor is making a contribution to the Account (in other words, if the only contribution is a rollover or transfer from an existing Education IRA), leave Part 3 blank.
Sample 1
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Related to Complete the Education IRA Adoption Agreement

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