INDIVIDUAL RETIREMENT CUSTODIAL ACCOUNT AGREEMENT Sample Clauses

INDIVIDUAL RETIREMENT CUSTODIAL ACCOUNT AGREEMENT a beneficiary(ies) shall not be required for you to revoke a beneficiary designation. If you have designated both primary and contingent beneficiaries and no primary beneficiary(ies) survives you, the contingent beneficiary(ies) shall acquire the designated share of your IRA. If you do not desig- nate a beneficiary, or if all of your primary and contingent beneficiary(ies) predecease you, your estate will be the beneficiary. A spouse beneficiary shall have all rights as granted under the Code or applicable Regulations to treat your IRA as his or her own. We may allow, if permitted by state law, an original IRA beneficiary(ies) (the beneficiary(ies) who is entitled to receive distribution(s) from an inherited IRA at the time of your death) to name a successor beneficiary(ies) for the inherited IRA. This designation can only be made on a form provided by or acceptable to us, and it will only be effective when it is filed with us during the original IRA beneficiary’s(ies’) lifetime. Un- less otherwise specified, each beneficiary designation form that the original IRA beneficiary(ies) files with us will cancel all previous ones. The consent of a successor beneficiary(ies) shall not be required for the original IRA beneficiary(ies) to revoke a successor beneficiary(ies) designation. If the original IRA beneficiary(ies) does not designate a succes- sor beneficiary(ies), his or her estate will be the successor beneficiary. In no event shall the successor beneficiary(ies) be able to extend the distribution period beyond that required for the original IRA beneficiary. Minor Named as Beneficiary – If upon the death of the original account owner, a Beneficiary known by the Custodian (Xxxxxx, Xxxxxxxx & Company, Incorporated) to be a minor or otherwise under a legal disability is entitled to receive any or all of the undistributed assets of the account, the Custodian may, in its absolute discretion make all or any part of the distribution to 1) the Legal Guardian, Conservator, or other legal representative as authorized and appointed by the court under the minor benefi- ciary’s applicable state law or 2) a custodian appointed for such Beneficiary, by the original account holder, under the Uniform Gift to Minors Act (UGMA) or Uniform Transfer to Minors Act (UTMA) or similar act. The designated Custodian under UGMA or UTMA must be in writing and filed with Xxxxxx, Xxxxxxxx & Company, Incorporated prior to the death of the original account holder. The minor shall be deem...

INDIVIDUAL RETIREMENT CUSTODIAL ACCOUNT AGREEMENT. Form 5305-A under section 408(a) of the Internal Revenue Code. FORM (Rev. April 2017) The depositor named on the application is establishing a Traditional individual retirement account under section 408(a) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named on the application has given the depositor the disclosure statement required by Regulations section 1.408-6. The depositor has assigned the custodial account the sum indicated on the application. The depositor and the custodian make the following agreement:

INDIVIDUAL RETIREMENT CUSTODIAL ACCOUNT AGREEMENT. Form 5305-A under Section 408(a) of the Internal Revenue Code FORM (Rev. April 2017) ARTICLE I Except in the case of a rollover contribution described in Section 402(c), 403(a)(4), 403(b)(8), 408(d)(3), or 457(e)(16), an employer contribution to a simplified employee pension plan as described in Section 408(k) or a recharacterized contribution described in Sec- tion 408A(d)(6), the custodian will accept only cash contributions up to $5,500 per year for tax years 2013 through 2017. For individu- als who have reached the age of 50 by the end of the year, the contribution limit is increased to $6,500 per year for tax years 2013 through 2017. For years after 2017, these limits will be increased to reflect a cost-of-living adjustment, if any. ARTICLE II The depositor’s interest in the balance in the custodial account is nonforfeitable. 1. No part of the custodial account funds may be invested in life insurance contracts, nor may the assets of the custodial account be commingled with other property except in a common trust fund or common investment fund (within the meaning of Section 408(a)(5)). 2. No part of the custodial account funds may be invested in collect- ibles (within the meaning of Section 408(m)) except as otherwise permitted by Section 408(m)(3), which provides an exception for certain gold, silver, and platinum coins, coins issued under the laws of any state, and certain bullion. 1. Notwithstanding any provision of this agreement to the contrary, the distribution of the depositor’s interest in the custodial account shall be made in accordance with the following requirements and shall otherwise comply with Section 408(a)(6) and the regulations there- under, the provisions of which are herein incorporated by reference. 2. The depositor’s entire interest in the custodial account must be, or begin to be, distributed not later than the depositor’s required beginning date, April 1 following the calendar year in which the de- positor reaches age 70½. By that date, the depositor may elect, in a manner acceptable to the custodian, to have the balance in the custodial account distributed in: (a) a single sum or (b) payments over a period not longer than the life of the depositor or the joint lives of the depositor and his or her designated beneficiary. 3. If the depositor dies before his or her entire interest is distributed to him or her, the remaining interest will be distributed as follows: (a) If the depositor dies on or after the required beginning date...

INDIVIDUAL RETIREMENT CUSTODIAL ACCOUNT AGREEMENT. If your spouse is age 50 or older by the close of the taxable year, and is otherwise eligible, you may make an additional contribution to your spouse’s IRA. The maximum additional contribution is $1,000 per year.

INDIVIDUAL RETIREMENT CUSTODIAL ACCOUNT AGREEMENT. (b) If the depositor dies before the required beginning date, the remaining interest will be distributed in accordance with (i) below or, if elected or there is no designated beneficiary, in accordance with paragraph (ii) below. (i) The remaining interest will be distributed in accordance with paragraphs (a)(i) and (a)(ii) above (but not over the period in paragraph (a)(iii), even if longer), starting by the end of the calendar year following the year of the depositor’s death. If, however, the designated beneficiary is the depositor’s sur- viving spouse, then this distribution is not required to begin before the end of the calendar year in which the depositor would have reached age 70½. But, in such case, if the depositor’s surviving spouse dies before distributions are required to begin, then the remaining interest will be distrib- uted in accordance with (a)(ii) above (but not over the period in paragraph (a)(iii), even if longer), over such spouse’s designated beneficiary’s life expectancy, or in accordance with (ii) below if there is no such designated beneficiary. (ii) The remaining interest will be distributed by the end of the calendar year containing the fifth anniversary of the depositor’s death. 4. If the depositor dies before his or her entire interest has been distrib- uted and if the designated beneficiary is not the depositor’s surviving spouse, no additional contributions may be accepted in the account. 5. The minimum amount that must be distributed each year, begin- ning with the year containing the depositor’s required beginning date, is known as the “required minimum distribution” and is determined as follows. (a) The required minimum distribution under paragraph 2(b) for any year, beginning with the year the depositor reaches age 70½, is the depositor’s account value at the close of busi- ness on December 31 of the preceding year divided by the distribution period in the uniform lifetime table in Regulations Section 1.401(a)(9)-9. However, if the depositor’s designated beneficiary is his or her surviving spouse, the required mini- mum distribution for a year shall not be more than the deposi- tor’s account value at the close of business on December 31 of the preceding year divided by the number in the joint and last survivor table in Regulations Section 1.401(a)(9)-9. The required minimum distribution for a year under this paragraph (a) is determined using the depositor’s (or, if applicable, the depositor and spouse’s) attained age (or a...

INDIVIDUAL RETIREMENT CUSTODIAL ACCOUNT AGREEMENT. ARTICLE I Except in the case of a rollover contribution described in Section 402(c), 403(a)(4), 403(b)(8), 408(d)(3), or 457(e)(16), an employer contribution to a simplified employee pension plan as described in Section 408(k) or a recharacterized contribution described in Sec- tion 408A(d)(6), the custodian will accept only cash contributions up to $5,500 per year for tax years 2013 through 2017. For individu- als who have reached the age of 50 by the end of the year, the contribution limit is increased to $6,500 per year for tax years 2013 through 2017. For years after 2017, these limits will be increased to reflect a cost-of-living adjustment, if any. ARTICLE II The depositor’s interest in the balance in the custodial account is nonforfeitable. 1. No part of the custodial account funds may be invested in life insurance contracts, nor may the assets of the custodial account be commingled with other property except in a common trust fund or common investment fund (within the meaning of Section 408(a)(5)). 2. No part of the custodial account funds may be invested in collect- ibles (within the meaning of Section 408(m)) except as otherwise permitted by Section 408(m)(3), which provides an exception for certain gold, silver, and platinum coins, coins issued under the laws of any state, and certain bullion. 1. Notwithstanding any provision of this agreement to the contrary, the distribution of the depositor’s interest in the custodial account shall be made in accordance with the following requirements and shall otherwise comply with Section 408(a)(6) and the regulations there- under, the provisions of which are herein incorporated by reference. 2. The depositor’s entire interest in the custodial account must be, or begin to be, distributed not later than the depositor’s required beginning date, April 1 following the calendar year in which the de- positor reaches age 70½. By that date, the depositor may elect, in a manner acceptable to the custodian, to have the balance in the custodial account distributed in: (a) a single sum or (b) payments over a period not longer than the life of the depositor or the joint lives of the depositor and his or her designated beneficiary. 3. If the depositor dies before his or her entire interest is distributed to him or her, the remaining interest will be distributed as follows: (a) If the depositor dies on or after the required beginning date and: (i) The designated beneficiary is the depositor’s surviving spouse, the remaini...

INDIVIDUAL RETIREMENT CUSTODIAL ACCOUNT AGREEMENT we fail to receive directions from you regarding any transac- tion, or if we receive ambiguous directions regarding any transaction, or we, in good faith, believe that any transaction requested is in dispute, we reserve the right to take no action until further clarification acceptable to us is received from you or the appropriate government or judicial authority. We shall not be responsible for losses of any kind that may result from your directions to us or your actions or failures to act, and you agree to reimburse us for any loss we may incur as a result of such directions, actions, or failures to act. We shall not be responsible for any penalties, taxes, judgments, or expenses you incur in connection with your IRA. We have no duty to determine whether your contributions or distributions comply with the Code, Regulations, rulings, or this Agreement. We may permit you to appoint, through written notice acceptable to us, an authorized agent to act on your behalf with respect to this Agreement (e.g., attorney-in-fact, executor, administrator, investment manager); however, we have no duty to determine the validity of such appointment or any instrument appointing such authorized agent. We shall not be responsible for losses of any kind that may result from directions, actions, or failures to act by your authorized agent, and you agree to reimburse us for any loss we may incur as a result of such directions, ac- tions or failures to act by your authorized agent. You will have sixty (60) days after you receive any documents, statements, or other information from us to notify us in writing of any errors or inaccuracies reflected in these documents, statements, or other information. If you do not notify us within 60 days, the documents, statements, or other information shall be deemed correct and accurate, and we shall have no further liability or obligation for such documents, statements, other information, or the transactions described therein. By performing services under this Agreement, we are acting as your agent. We shall not be required to perform any ad- ditional services unless specifically agreed to under the terms and conditions of this Agreement, or as required under the Code and the Regulations promulgated thereunder with re- spect to IRAs. You agree to indemnify and hold us harmless for any and all claims, actions, proceedings, damages, judg- ments, liabilities, costs, and expenses, including attorney’s fees, arising from, or in connection with th...

INDIVIDUAL RETIREMENT CUSTODIAL ACCOUNT AGREEMENT. SPECIFIC INSTRUCTIONS

INDIVIDUAL RETIREMENT CUSTODIAL ACCOUNT AGREEMENT tions or failures to act by your authorized agent. You will have sixty (60) days after you receive any documents, statements, or other information from us to notify us in writing of any errors or inaccuracies reflected in these documents, statements, or other information. If you do not notify us within 60 days, the documents, statements, or other information shall be deemed correct and accurate, and we shall have no further liability or obligation for such documents, statements, other information, or the transactions described therein. By performing services under this Agreement, we are acting as your agent. We shall not be required to perform any ad- ditional services unless specifically agreed to under the terms and conditions of this Agreement, or as required under the Code and the Regulations promulgated thereunder with re- spect to IRAs. You agree to indemnify and hold us harmless for any and all claims, actions, proceedings, damages, judg- ments, liabilities, costs, and expenses, including attorney’s fees, arising from, or in connection with this Agreement. To the extent written instructions or notices are required under this Agreement, we may accept or provide such information in any other form permitted by the Code or applicable regulations.

INDIVIDUAL RETIREMENT CUSTODIAL ACCOUNT AGREEMENT previous ones. The consent of a successor beneficiary(ies) shall not be required for the original IRA beneficiary(ies) to revoke a successor beneficiary(ies) designation. If the original IRA beneficiary(ies) does not designate a succes- sor beneficiary(ies), his or her estate will be the successor beneficiary. In no event shall the successor beneficiary(ies) be able to extend the distribution period beyond that required for the original IRA beneficiary. Minor Named as Beneficiary – If upon the death of the original account owner, a Beneficiary known by the Custodian (Xxxxxx, Xxxxxxxx & Company, Incorporated) to be a minor or otherwise under a legal disability is entitled to receive any or all of the undistributed assets of the account, the Custodian may, in its absolute discretion make all or any part of the distribution to 1) the Legal Guardian, Conservator, or other legal representative as authorized and appointed by the court under the minor benefi- ciary’s applicable state law or 2) a custodian appointed for such Beneficiary, by the original account holder, under the Uniform Gift to Minors Act (UGMA) or Uniform Transfer to Minors Act (UTMA) or similar act. The designated Custodian under UGMA or UTMA must be in writing and filed with Xxxxxx, Xxxxxxxx & Company, Incorporated prior to the death of the original account holder. The minor shall be deemed to be a minor until such Benefi- ciary reaches 1) the age of majority under the law of the state of the minor’s domicile or 2) a later age for termination of minor status, if state law allows, but in no event later than age 25, as designated by the Investor in the Beneficiary designa- tion accepted by the Custodian. Minors are not legally able to sign contracts, including account agreements to open an Inherited Beneficiary IRA account. If you fail to name an UTMA custodian, then a Legal Guard- xxx, Conservator, or other legal representative will have to be appointed by the appropriate court. The appropriate court- appointed representative would then have the right to act as the guardian/custodian for the minor and open the Inherited Beneficiary IRA. Please seek competent legal advice before making such a designation. by representation (Xxx Xxxxxxx). The shares distributable to descendants under a per stirpes beneficiary designation shall be determined by the law of the state of the account owner’s residence at the time of the account owner’s death. Stifel, in its sole discretion, may determine not to make a ...