Custodian Accounts. With respect to certain retirement plans or accounts for which CDI maintains custodial account agreements, such as individual retirement accounts ("IRAs"), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, 403(b) Plans and Xxxxxxxxx Education Savings Accounts (such accounts, "Custodian Accounts"), the Transfer Agent shall perform the following services. Each Fund other than CVS hereby authorizes the Transfer Agent to take instructions from and communicate with CSSI, as agent for such Fund, as to each of the services set forth in this Section 1.3.
(a) For those IRAs, SIMPLE IRAs, SEP IRAs, Xxxx IRAs and 403(b) Plans for which Acacia Federal Savings Bank serves as custodian: handle tax reporting (including the filing of Forms 1099 and 5498) and monitor for excess contributions; and Excluding those CDI-sponsored retirement plans and accounts for which Acacia Federal Savings Bank serves as custodian: the Transfer Agent may, at the request of a Fund or CSSI and to the extent applicable, arrange for the provision of appropriate prototype plans as well as provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial services to be provided by State Street, account set-up maintenance and disbursements as well as such other services as the parties hereto shall mutually agree upon.
Custodian Accounts. This account type is for a custodian who is the parent or guardian of a minor to control gifts on behalf of the minor. A custodian account owner may elect to add a Trusted Contact to his or her EarlyBird account. The Trusted Contact has view-only rights to a custodial account, as assigned by the custodian account owner.
Custodian Accounts. With respect to retirement plans or accounts for which the Funds offer a custodial account, such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs and Xxxxxxxxx Education Savings Accounts (“Individual Retirement Accounts”) to the Funds’ Shareholders, the Transfer Agent shall provide certain additional services. The Transfer Agent shall perform such services as service agent to the Fund and the named custodian on the Individual Retirement Accounts, which is currently UMB, n.a. (“UMB”).”
3. Section 11.1
Custodian Accounts. With respect to certain retirement plans or accounts (such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, Education IRAs, 403(b) Plans and Xxxxxxxxx Education Savings Accounts (such accounts, “Custodian Accounts”)), the Transfer Agent, at the request of each Fund, shall arrange for the provision of appropriate prototype plans as well as provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial services to be provided by State Street Bank and Trust Company (“State Street”), account set-up maintenance, and disbursements as well as such other services as the parties hereto shall mutually agree upon.
Custodian Accounts. If you wish to make a gift of money to a minor, you can do so and name yourself and/or another adult as custodian to handle the money while the beneficiary is a minor. The Bank requires that either a joint custodian or a successor custodian be designated on these types of accounts. Interest earned will be reported under the TIN of the minor; however, it may be taxed at the rate of his or her parents. We will follow the Maryland Uniform Transfers to Minors Act for this type of arrangement. A gift of money made in this manner is irrevocable and conveys to the minor legal title to the custodial property. The custodian(s) has certain powers and duties in relationship to such accounts as prescribed by state law, including the power to collect, hold, manage, invest, and re-invest the custodial property. However, the property held shall be for the exclusive right and benefit of the minor and will be free from the control or lien of all other persons, except creditors of the minor. The custodian(s) acknowledges the responsibility to transfer the property together with interest credited to the account to the minor when he or she reaches the age specified by statute. We have no obligation to inquire into the purpose of any withdrawal.
Custodian Accounts. Section 1.3 of the Agreement is amended by adding the words “the Funds’ distributor” in place of “CDI” in the first paragraph, and by replacing the phrase “CDI-sponsored retirement plans and accounts for which Acacia Federal Savings Bank serves as custodian” in subparagraph 1.3(b) with “retirement plans and accounts sponsored by the Funds’ distributor and for which Acacia Federal Savings Bank serves as custodian”. In addition, the phrase “CDI-sponsored retirement plans for which Acacia Federal Savings Bank serves as custodian” in the ninth “Whereas” clause is replaced with “retirement plans sponsored by the Funds’ distributor and for which Acacia Federal Savings Bank serves as custodian”.
5. Section 3.1 (Fee Schedule). The first sentence of Section 3.1 is amended to delete the phrase “and CDI agrees to pay the Transfer Agent an annual maintenance fee for each MMDA Program account.”
Custodian Accounts. With respect to retirement plans or accounts for which the Funds offer a custodial account, such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs and Xxxxxxxxx Education Savings Accounts (“Individual Retirement Accounts”) to the Funds’ Shareholders, the Transfer Agent shall provide certain additional services. The Transfer Agent shall perform such services as service agent to the Fund and the named custodian on the Individual Retirement Accounts, which is currently UMB, n.a. (“UMB”).”
3. Section 1.4. The Agreement is amended by adding the following Section 1.4 to replace and supersede the letter agreement between Fund and Transfer Agent dated September 24, 2002 and amendment dated July 18, 2003, which together set forth the anti-money laundering services as agreed to by the Funds and Transfer Agent:
Custodian Accounts. (a) Xxxxxx shall have the right to appoint one or more custodians to act as custodian of the Accounts (collectively, the “Custodian”). Each of the Xxxxxx Entities will maintain one or more separate Accounts with the Custodian. The Custodian shall be directed to comply with instructions from S&Y for the purpose of executing the Purchase Program, as provided in a custodian agreement. Xxxxxx shall grant S&Y a limited power of attorney or take such other action as may be required by the Custodian to authorize S&Y to perform the Services with respect to the Accounts.
Custodian Accounts. Custodian accounts are available when the primary owner is unable to handle their own finances. This applies to minors, court appointed fiduciaries, guardianships, and recipients of Supplemental Security Income (SSI). Only the custodian has authorization to access funds in a custodian account. Custodian accounts are restricted from using the Shared Branch network. DIAL and Online Banking will allow inquiry only, unless the custodian requests transfer Rev. 8/2024 capabilities. Custodianship on accounts established for minors (court appointed, guardianships, and SSI are excluded) terminates when the minor reaches age 18. It is the custodian’s responsibility to arrange for the transfer of property to the actual owner of the funds upon his or her reaching the appropriate age. Thirty days prior to the minor’s 18th birthday, a notification will be sent to the custodian instructing them to visit the Credit Union to make arrangements for the funds. The owner will need to meet Customer Identification Program (CIP) requirements in order to convert the custodian account into a general membership, thus providing access to the funds.
Custodian Accounts. If you wish to make a gift of money to a minor, you can do so and name yourself and/or another adult as custodian to handle the money while the beneficiary is a minor. The Bank requires that either a joint custodian or a successor custodian be designated on these types of accounts. Interest earned will be reported under the TIN of the minor; however, it may be taxed at the rate of his or her parents. Wewill follow the Maryland Uniform Transfers to Minors Act for this type of arrangement. A gift of money made in this manner is irrevocable and conveys to the minor legal title to the custodial property. The custodian(s) has certain powers and duties in relationship to such accounts as prescribed by state law, including the power to collect,
