Common use of Custodial Fees Clause in Contracts

Custodial Fees. $20.00 annual maintenance fee per account per year. This fee is owed and due for each full and partial calendar year that the IRA Account is open. The participant may pay the fee with funds other than those in the IRA Account ("non-custodial funds"). If the fee for a calendar year is not paid by the participant from non-custodial funds by the date reasonably designated by the Custodian or prior to closing the IRA Account, the Custodian is authorized to deduct the fee from funds in the IRA Account at any time immediately after such payment due date or immediately after receiving instructions to close the IRA Account. The Custodian is authorized to change the fee but will give at least 30 days written notice to the participant of any fee change. The Custodian will keep those records, identify and file returns and provide other information concerning the IRA as required of custodians by the Internal Revenue Code and any regulations issued or forms adopted by the IRS or U.S. Treasury Department. I direct that all benefits upon my death be paid as indicated on the beneficiary designation. If I named a beneficiary that is a Trust, I understand I must provide certain information concerning such Trust to the Custodian. I understand that, if I am subject to community property or marital property state requirements, my spouse may be required to consent to any beneficiary I designate who is not my spouse, or who is in addition to my spouse. I also understand that any beneficiary designation I make, other than my spouse, may not be effective without my spouse’s consent. I certify, under penalty of perjury, if I am married and have not named my spouse as my sole Primary Beneficiary, I have consulted a qualified tax or legal professional about the need to document spousal consent, and about the consequences of not obtaining my spouse’s consent. I (the Participant) certify under penalties of perjury that (i) all information I have provided on this form or otherwise in connection with establishing my IRA is true, correct, and complete, and (ii) I am a US person (including a US resident alien) and that my Social Security Number is true, correct and complete and that this number is my Taxpayer Identification Number. (Foreign persons must use appropriate Form W-8) To help the U.S. Government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies persons opening accounts. To comply, the Custodian requires the participant's name, address, date of birth and government-issued identification number (generally, a Social Security Number) and other information that may help the Custodian identify the participant; and the Custodian may ask for copies of related documentation and may consult third-party databases to help verify the participant's identity. I have read and I understand the Disclosure Statement that explains the risks of opening this account if I do not provide all requested identification materials or if my identity cannot be adequately verified in accordance with U.S. Government requirements. X Signature: Date: (Responsible Individual in the case of a xxxxx XXX) IRA Custodian: BNY Mellon Investment Servicing Trust Company, 0000 Xxxxxxxx Xxxxx, Xxxxxxxxxxx, XX 00000 Mail to the following: First Class Mail: Overnight Mail: Customer Service: Meridian Funds Meridian Funds 0-000-000-0000 P.O. Box 9792 Providence, RI 02940 0000 Xxxxxxxx Xxxxx Xxxxxxxxxxx, XX 00000 Dealer or Advisor Designation (If you do not have a Dealer or Advisor assisting you with this transaction, please leave this section blank.) Firm Name: Firm Number: Representative’s Name: Rep. Number: Telephone: ( ) Branch Number: Branch Address: BNY MELLON INVESTMENT SERVICING TRUST COMPANY Supplement to the Traditional and Xxxx Individual Retirement Account (IRA) Disclosure Statement for Tax Year 2022 DEADLINE FOR 2021 CONTRIBUTIONS TO A TRADITIONAL OR XXXX XXX: Due to the Emancipation Day holiday observed in the District of Columbia, most eligible individuals will have until, Monday, April 18, 2022, to make contributions to a traditional IRA or Xxxx XXX for 2021. Note that, due to the Patriots’ Day holiday observed on April 18, 2022, in Massachusetts and Maine, eligible individuals residing in those two states only will have until Tuesday, April 19, 2022. For more information, please refer to the Internal Revenue Service (IRS) web site: xxx.xxx.xxx. 2022 IRA CONTRIBUTION LIMITS FOR TRADITIONAL AND XXXX XXX: The maximum allowable contribution to your IRAs (deductible, non-deductible, and Xxxx) for the tax year remains unchanged and is the lesser of (a) $6,000 or (b) 100% of your earned income. For those who have attained or will attain the age of 50 before the close of the taxable year, the annual IRA contribution limit is increased by $1,000 (total of $7,000 for 2022). Any contribution made to your IRA will be treated as a current year contribution recorded in the year it is received, unless the contribution is made between January 1 and April 18, 2022 (or April 19, 2022, for eligible residents of Massachusetts and Maine), and you have identified the contribution as a prior year contribution. Please consult IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs) for eligibility requirements and contribution restrictions. 2022 TRADITIONAL IRA INCOME TAX DEDUCTION: Your contribution to a traditional IRA may be deductible on your federal income tax return. However, there is a phase-out of the IRA deduction if you are an active participant in an employer-sponsored retirement plan. The IRA deduction is reduced proportionately as modified adjusted gross income increases. If you are not an active participant in an employer-sponsored retirement plan, there is a phase-out of the IRA deduction if you’re married based on whether or not your spouse is covered by a workplace retirement plan. Please consult IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs) for assistance in calculating your deductible contribution as it pertains to individual income and employer-sponsored retirement plan circumstances. Your contribution in excess of the permitted deduction will be considered a non-deductible contribution. DEDUCTION LIMIT - Effect of Modified AGI on Deduction – Covered by a Retirement Plan at Work TAX YEAR 2022 Full deduction if modified AGI is: Partial deduction if modified AGI is: No deduction if modified AGI is: Single Filers or Head of Household $68,000 or less More than $68,000 but less than $78,000 $78,000 or more Married - filing jointly or Qualified Widow(er) $109,000 or less More than $109,000 but less than $129,000 $129,000 or more Married - filing separately N/A Less than $10,000 $10,000 or more DEDUCTION LIMIT - Effect of Modified AGI on Deduction – You are NOT Covered by a Retirement Plan at Work (Spousal Coverage Considered) TAX YEAR 2022 Full deduction if modified AGI is: Partial deduction if modified AGI is: No deduction if AGI is: Married - filing jointly - spouse covered at work $204,000 or less More than $204,000 but less than $214,000 $214,000 or more Married - filing separately - spouse covered at work N/A Less than $10,000 $10,000 or more 2022 XXXX XXX CONTRIBUTION ELIGIBILITY: For 2022, your Xxxx XXX contribution limit is reduced (phased out) based on your modified AGI as follows: TAX YEAR 2022 Full contribution if modified AGI is: Partial contribution if modified AGI is: No contribution if AGI is: Married - filing jointly or Qualified Widow(er) $204,000 or less More than $204,000 but less than $214,000 $214,000 or more Married - filing separately N/A less than $10,000 $10,000 or more Single, Head of Household or Married - filing separately and you did not live with your spouse at any time during the year Less than $129,000 At least $129,000 but less than $144,000 $144,000 or more These limits may be adjusted from time to time by the IRS; please refer to Publication 590-A Contributions to Individual Retirement Arrangements (IRAs) for current year limits. REQUIRED DISTRIBUTIONS FROM A TRADITIONAL IRA: Note that the IRS Uniform Lifetime Distribution Period Table referenced in the Traditional IRA Disclosure Agreement for use in calculating Required Minimum Distributions (RMDs) has been updated. The updated Table is applicable for distribution calendar years beginning on or after January 1, 2022. Until such time as the IRS updates Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), the updated Tables can be found in the Federal Register article located at xxxxx://xxx.xxxxxxx.xxx/content/pkg/FR-2020-11-12/pdf/2020-24723.pdf. The Uniform Lifetime Table can be found on page 7 of 32 of the article. XXXX INDIVIDUAL RETIREMENT ACCOUNT DISCLOSURE EARLY DISTRIBUTIONS FROM A XXXX XXX: Early Distribution Penalty Tax – If you are under age 59½ and receive a nonqualified Xxxx XXX distribution, an additional early distribution penalty tax of 10% generally will apply to the amount includible in income in the year of the distribution. If you are under age 59½ and receive a distribution of conversion amounts or employer-sponsored retirement plan rollover amounts within the five-year period beginning with the year in which the conversion or employer- sponsored retirement plan rollover occurred, an additional early distribution penalty tax of 10% generally will apply to the amount of the distribution. The additional early distribution penalty tax of 10% generally will not apply if one of the following exceptions apply. The 10% penalty tax is in addition to any federal income tax that is owed at distribution.

Custodial Fees. $20.00 10 annual maintenance fee per account per year. This fee is owed and due for each full and partial calendar year that the IRA Account is open. The participant may pay the fee with funds other than those in the IRA Account ("non-custodial funds"). If the fee for a calendar year is not paid by the participant from non-custodial funds by the date reasonably designated by the Custodian or prior to closing the IRA Account, the Custodian is authorized to deduct the fee from funds in the IRA Account at any time immediately after such payment due date or immediately after receiving instructions to close the IRA Account. The Custodian is authorized to change the fee but will give at least 30 days written notice to the participant of any fee change. The Custodian will keep those records, identify and file returns and provide other information concerning the IRA as required of custodians by the Internal Revenue Code and any regulations issued or forms adopted by the IRS Internal Revenue Service or U.S. Treasury Department. I direct that all benefits upon my death be paid as indicated on the beneficiary designation. If I named a beneficiary that is a Trust, I understand I must provide certain information concerning such Trust to the Custodian. I understand that, if I am subject to community property or marital property state requirements, my spouse may be required to consent to any beneficiary I designate who is not my spouse, or who is in addition to my spouse. I also understand that any beneficiary designation I make, other than my spouse, may not be effective without my spouse’s consent. I certify, under penalty of perjury, if I am married and have not named my spouse as my sole Primary Beneficiary, I have consulted a qualified tax or legal professional about the need to document spousal consent, and about the consequences of not obtaining my spouse’s consent. I (the Participant) certify under penalties of perjury that (i) all information I have provided on this form or otherwise in connection with establishing my IRA is true, correct, and complete, and (ii) I am a US person (including a US resident alien) and that my Social Security Number is true, correct and complete and that this number is my Taxpayer Identification Number. (Foreign persons must use appropriate Form W-8) To help the U.S. Government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies persons opening accounts. To comply, the Custodian requires the participant's name, address, date of birth and government-issued identification number (generally, a Social Security Number) and other information that may help the Custodian identify the participant; and the Custodian may ask for copies of related documentation and may consult third-party databases to help verify the participant's identity. I have read and I understand the Disclosure Statement that which explains the risks of opening this account if I do not provide all requested identification materials or if my identity cannot be adequately verified in accordance with U.S. Government requirements. X Participant’s Signature: Date: (Responsible Individual in the case of a xxxxx XXX) IRA Custodian: BNY Mellon Investment Servicing Trust Company, 0000 Xxxxxxxx Xxxxx, Xxxxxxxxxxx, XX 00000 Mail to the following: First Class Mail: Overnight Mail: Customer Service: Meridian Funds Meridian Funds 0-000-000-0000 P.O. Box 9792 Providence, RI 02940 0000 Xxxxxxxx Xxxxx Xxxxxxxxxxx, XX 00000 Dealer or Advisor Designation (If you do not have a Dealer or Advisor assisting you with this transaction, please leave this section blank.) Firm Name: Firm Number: Representative’s Name: Rep. Number: Telephone: ( ) Branch Number: Branch Address: BNY MELLON INVESTMENT SERVICING TRUST COMPANY Supplement to the Traditional and Xxxx Individual Retirement Account (IRA) Disclosure Statement for Tax Year 2022 DEADLINE FOR 2021 CONTRIBUTIONS TO A TRADITIONAL OR XXXX XXX: Due to the Emancipation Day holiday observed in the District of Columbia, most eligible individuals will have until, Monday, April 18, 2022, to make contributions to a traditional IRA or Xxxx XXX for 2021. Note that, due to the Patriots’ Day holiday observed on April 18, 2022, in Massachusetts and Maine, eligible individuals residing in those two states only will have until Tuesday, April 19, 2022. For more information, please refer to the Internal Revenue Service (IRS) web site: xxx.xxx.xxx. 2022 IRA CONTRIBUTION LIMITS FOR TRADITIONAL AND XXXX XXX: The maximum allowable contribution to your IRAs (deductible, non-deductible, and Xxxx) for the tax year remains unchanged and is the lesser of (a) $6,000 or (b) 100% of your earned income. For those who have attained or will attain the age of 50 before the close of the taxable year, the annual IRA contribution limit is increased by $1,000 (total of $7,000 for 2022). Any contribution made to your IRA will be treated as a current year contribution recorded in the year it is received, unless the contribution is made between January 1 and April 18, 2022 (or April 19, 2022, for eligible residents of Massachusetts and Maine), and you have identified the contribution as a prior year contribution. Please consult IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs) for eligibility requirements and contribution restrictions. 2022 TRADITIONAL IRA INCOME TAX DEDUCTION: Your contribution to a traditional IRA may be deductible on your federal income tax return. However, there is a phase-out of the IRA deduction if you are an active participant in an employer-sponsored retirement plan. The IRA deduction is reduced proportionately as modified adjusted gross income increases. If you are not an active participant in an employer-sponsored retirement plan, there is a phase-out of the IRA deduction if you’re married based on whether or not your spouse is covered by a workplace retirement plan. Please consult IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs) for assistance in calculating your deductible contribution as it pertains to individual income and employer-sponsored retirement plan circumstances. Your contribution in excess of the permitted deduction will be considered a non-deductible contribution. DEDUCTION LIMIT - Effect of Modified AGI on Deduction – Covered by a Retirement Plan at Work TAX YEAR 2022 Full deduction if modified AGI is: Partial deduction if modified AGI is: No deduction if modified AGI is: Single Filers or Head of Household $68,000 or less More than $68,000 but less than $78,000 $78,000 or more Married - filing jointly or Qualified Widow(er) $109,000 or less More than $109,000 but less than $129,000 $129,000 or more Married - filing separately N/A Less than $10,000 $10,000 or more DEDUCTION LIMIT - Effect of Modified AGI on Deduction – How Did You are NOT Covered by a Retirement Plan at Work (Spousal Coverage Considered) TAX YEAR 2022 Full deduction if modified AGI is: Partial deduction if modified AGI is: No deduction if AGI is: Married - filing jointly - spouse covered at work $204,000 or less More than $204,000 but less than $214,000 $214,000 or more Married - filing separately - spouse covered at work N/A Less than $10,000 $10,000 or more 2022 XXXX XXX CONTRIBUTION ELIGIBILITY: For 2022, your Xxxx XXX contribution limit is reduced (phased out) based on your modified AGI as follows: TAX YEAR 2022 Full contribution if modified AGI is: Partial contribution if modified AGI is: No contribution if AGI is: Married - filing jointly or Qualified Widow(er) $204,000 or less More than $204,000 but less than $214,000 $214,000 or more Married - filing separately N/A less than $10,000 $10,000 or more Single, Head of Household or Married - filing separately and you did not live with your spouse at any time during the year Less than $129,000 At least $129,000 but less than $144,000 $144,000 or more These limits may be adjusted from time to time by the IRS; please refer to Publication 590-A Contributions to Individual Retirement Arrangements (IRAs) for current year limits. REQUIRED DISTRIBUTIONS FROM A TRADITIONAL IRA: Note that the IRS Uniform Lifetime Distribution Period Table referenced in the Traditional IRA Disclosure Agreement for use in calculating Required Minimum Distributions (RMDs) has been updated. The updated Table is applicable for distribution calendar years beginning on or after January 1, 2022. Until such time as the IRS updates Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), the updated Tables can be found in the Federal Register article located at xxxxx://xxx.xxxxxxx.xxx/content/pkg/FR-2020-11-12/pdf/2020-24723.pdf. The Uniform Lifetime Table can be found on page 7 of 32 of the article. XXXX INDIVIDUAL RETIREMENT ACCOUNT DISCLOSURE EARLY DISTRIBUTIONS FROM A XXXX XXX: Early Distribution Penalty Tax – If you are under age 59½ and receive a nonqualified Xxxx XXX distribution, an additional early distribution penalty tax of 10% generally will apply to the amount includible in income in the year of the distribution. If you are under age 59½ and receive a distribution of conversion amounts or employer-sponsored retirement plan rollover amounts within the five-year period beginning with the year in which the conversion or employer- sponsored retirement plan rollover occurred, an additional early distribution penalty tax of 10% generally will apply to the amount of the distribution. The additional early distribution penalty tax of 10% generally will not apply if one of the following exceptions apply. The 10% penalty tax is in addition to any federal income tax that is owed at distribution.Hear About Us?

Custodial Fees. $20.00 annual maintenance fee per account Global Account Number per year. This fee is owed and due for each full and partial calendar year that the IRA Account is open. The participant may pay the fee with funds other than those in the IRA Account ("non-custodial funds"). If the fee for a calendar year is not paid by the participant from non-custodial funds by the date reasonably designated by the Custodian or prior to closing the IRA Account, the Custodian is authorized to deduct the fee from funds in the IRA Account at any time immediately after such payment due date or immediately after receiving instructions to close the IRA Account. The Custodian is authorized to change the fee but will give at least 30 days written notice to the participant of any fee change. The Custodian will keep those records, identify and file returns and provide other information concerning the IRA as required of custodians by the Internal Revenue Code and any regulations issued or forms adopted by the IRS or U.S. Treasury Department. I direct that all benefits upon my death be paid as indicated on the beneficiary designation. If I named a beneficiary that is a Trust, I understand I must provide certain information concerning such Trust to the Custodian. I understand that, if I am subject to community property or marital property state requirements, my spouse may be required to consent to any beneficiary I designate who is not my spouse, or who is in addition to my spouse. I also understand that any beneficiary designation I make, other than my spouse, may not be effective without my spouse’s consent. I certify, under penalty of perjury, if I am married and have not named my spouse as my sole Primary Beneficiary, I have consulted a qualified tax or legal professional about the need to document spousal consent, and about the consequences of not obtaining my spouse’s consent. I (the Participant) certify under penalties of perjury that (i) all information I have provided on this form or otherwise in connection with establishing my IRA is true, correct, and complete, and (ii) I am a US person (including a US resident alien) and that my Social Security Number is true, correct and complete and that this number is my Taxpayer Identification Number. (Foreign persons must use appropriate Form W-8) To help the U.S. Government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies persons opening accounts. To comply, the Custodian requires the participant's name, address, date of birth and government-issued identification number (generally, a Social Security Number) and other information that may help the Custodian identify the participant; and the Custodian may ask for copies of related documentation and may consult third-party databases to help verify the participant's identity. I have read and I understand the Disclosure Statement that explains the risks of opening this account if I do not provide all requested identification materials or if my identity cannot be adequately verified in accordance with U.S. Government requirements. X Signature: Date: (Responsible Individual in the case of a xxxxx XXX) IRA Custodian: BNY Mellon Investment Servicing Trust Company, 0000 Xxxxxxxx XxxxxP.O. Box 534452, XxxxxxxxxxxPittsburgh, XX 00000 PA 15253-4452 Mail to the following: First Class Mail: Overnight Mail: Customer Service: Meridian Funds Meridian Funds 0-000-000-0000 Meridian Fund, Inc. Meridian Fund, Inc. P.O. Box 9792 Providence534452 Attn: 534452 Pittsburgh, RI 02940 0000 Xxxxxxxx Xxxxx XxxxxxxxxxxPA 15253-4452 000 Xxxx Xxxxxx 154-0520 Pittsburgh, XX 00000 PA 15262 Dealer or Advisor Designation (If you do not have a Dealer or Advisor assisting you with this transaction, please leave this section blank.) Firm Name: Firm Number: Representative’s Name: Rep. Number: Telephone: ( ) Branch Number: Branch Address: BNY MELLON INVESTMENT SERVICING TRUST COMPANY Supplement to the Traditional and Xxxx Individual Retirement Account (IRA) Disclosure Statement for Tax Year 2022 2024 DEADLINE FOR 2021 2023 CONTRIBUTIONS TO A TRADITIONAL OR XXXX XXX: Due to the Emancipation Day holiday observed in the District of Columbia, most eligible individuals Most taxpayers will have until, until Monday, April 1815, 20222024, to make contributions to a traditional IRA or Xxxx XXX for 20212023. Note thatHowever, due to the Patriots’ Day holiday observed on April 18, 2022, in Massachusetts and MaineMaine on April 15, eligible individuals residing 2024, and the Emancipation Day holiday observed in those two states Washington DC on Tuesday April 16, 2024, residents of Massachusetts and Maine only will have until TuesdayWednesday, April 1917, 20222024, to make contributions to a traditional or Xxxx XXX for 2023. For more information, please refer to the Internal Revenue Service (IRS) web site: xxx.xxx.xxx. 2022 2024 IRA CONTRIBUTION LIMITS FOR TRADITIONAL AND XXXX XXX: The maximum allowable contribution to your IRAs (deductible, non-deductible, and Xxxx) for the tax year remains unchanged and is the lesser of (a) $6,000 7,000 or (b) 100% of your earned income. For those who have attained or will attain the age of 50 before the close of the taxable year, the annual IRA contribution limit is increased by $1,000 (total of $7,000 8,000 for 20222024). Any contribution made to your IRA will be treated as a current year contribution recorded in the year it is received, unless the contribution is made between January 1 and April 1815, 2022 (or April 19, 2022, for eligible residents of Massachusetts and Maine)2024, and you have identified the contribution as a prior year contribution. Please consult IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs) for eligibility requirements and contribution restrictions. 2022 2024 TRADITIONAL IRA INCOME TAX DEDUCTION: Your contribution to a traditional IRA may be deductible on your federal income tax return. However, there is a phase-out of the IRA deduction if you are an active participant in an employer-sponsored retirement plan. The IRA deduction is reduced proportionately as modified adjusted gross income increases. If you are not an active participant in an employer-sponsored retirement plan, there is a phase-out of the IRA deduction if you’re married based on whether or not your spouse is covered by a workplace retirement plan. Please consult IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs) for assistance in calculating your deductible contribution as it pertains to individual income and employer-sponsored retirement plan circumstances. Your contribution in excess of the permitted deduction will be considered a non-deductible contribution. DEDUCTION LIMIT - Effect of Modified AGI on Deduction – Covered by a Retirement Plan at Work TAX YEAR 2022 2024 Full deduction if modified AGI is: Partial deduction if modified AGI is: No deduction if modified AGI is: Single Filers or Head of Household $68,000 77,000 or less More than $68,000 77,000 but less than $78,000 87,000 $78,000 87,000 or more Married - filing jointly or Qualified Widow(er) $109,000 123,000 or less More than $109,000 123,000 but less than $129,000 143,000 $129,000 143,000 or more Married - filing separately N/A Less than $10,000 $10,000 or more DEDUCTION LIMIT - Effect of Modified AGI on Deduction – You are NOT Covered by a Retirement Plan at Work (Spousal Coverage Considered) TAX YEAR 2022 2024 Full deduction if modified AGI is: Partial deduction if modified AGI is: No deduction if AGI is: Married - filing jointly - spouse covered at work $204,000 230,000 or less More than $204,000 230,000 but less than $214,000 240,000 $214,000 240,000 or more Married - filing separately - spouse covered at work N/A Less than $10,000 $10,000 or more 2022 2024 XXXX XXX CONTRIBUTION ELIGIBILITY: For 20222024, your Xxxx XXX contribution limit is reduced (phased out) based on your modified AGI as follows: TAX YEAR 2022 2024 Full contribution if modified AGI is: Partial contribution if modified AGI is: No contribution if AGI is: Married - filing jointly or Qualified Widow(er) $204,000 230,000 or less More than $204,000 230,000 but less than $214,000 240,000 $214,000 240,000 or more Married - filing separately and you lived with your spouse at any time during the year N/A less than $10,000 $10,000 or more Single, Head of Household or Married - filing separately and you did not live with your spouse at any time during the year Less than $129,000 146,000 At least $129,000 146,000 but less than $144,000 161,000 $144,000 161,000 or more Qualified Charitable Distributions allowed for 2024: an annual distribution of up to $105,000 and a one-time distribution of up to $53,000 to certain split-interest entities are allowed for owners age 70 ½ or over. These limits may be adjusted from time to time by the IRS; please refer to Publication 590-A Contributions to Individual Retirement Arrangements (IRAs) for current year limits. REQUIRED DISTRIBUTIONS FROM A 2024 UPDATES FOR SECURE ACT 2.0 THE SPECIFIC SECTIONS BELOW ARE REPLACED OR AMENDED EFFECTIVE AS OF 1/1/2024 BY INCLUSION IN THIS SUPPLEMENT. CHANGES OR ADDITIONS ARE SHOWN IN ITALICS. ADDITIONAL INFORMATION REGARDING XXXX CATCH UP CONTRIBUTIONS AND XXXX CONTRIBUTIONS TO SEP AND SIMPLE IRAS WILL BE RELEASED PENDING ADDITIONAL IRS GUIDANCE. TRADITIONAL IRA: Note that the IRS Uniform Lifetime Distribution Period Table referenced in the Traditional IRA Disclosure Agreement for use in calculating Required Minimum Distributions (RMDs) has been updated. The updated Table is applicable for distribution calendar years beginning on or after January 1, 2022. Until such time as the IRS updates Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), the updated Tables can be found in the Federal Register article located at xxxxx://xxx.xxxxxxx.xxx/content/pkg/FR-2020-11-12/pdf/2020-24723.pdf. The Uniform Lifetime Table can be found on page 7 of 32 of the article. XXXX INDIVIDUAL RETIREMENT ACCOUNT DISCLOSURE EARLY DISTRIBUTIONS FROM A XXXX XXXTRADITIONAL IRA: Early Distribution Penalty Tax – If you are under age 59½ and receive a nonqualified Xxxx XXX Traditional IRA distribution, an additional early distribution penalty tax of 10% generally will apply to the amount includible in income in the year of the distribution. If you are under age 59½ and receive a distribution of conversion amounts or employer-sponsored retirement plan rollover amounts within However, the five-year period beginning with the year in which the conversion or employer- sponsored retirement plan rollover occurred, an additional early distribution penalty tax of 10% generally will apply to the amount of the distribution. The additional early distribution penalty tax of 10% generally will not apply if one of the following exceptions apply. The 10% penalty tax is in addition to any federal income tax that is owed at distribution.