Inherited Xxxx Individual Retirement Custodial Account Agreement. Form 5305-RA under Section 408A of the Internal Revenue Code FORM (Rev. April 2017) The depositor named is establishing a Xxxx individual retirement account under Section 408A to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named has given the depositor the disclosure state- ment required by Regulations Section 1.408-6. The depositor has assigned the custodial account the sum indi- cated on the application. The depositor and the custodian make the following agreement:
Inherited Xxxx Individual Retirement Custodial Account Agreement. Custodian will not exercise any investment discretion, or provide investment recommendations or advice regarding your IRA, as this is solely your responsibility. The value of your Inherited Xxxx XXX will be solely dependent upon the performance of any investment instrument chosen by you to fund your Inherited Xxxx XXX. Therefore, no projection of the growth of your Inherited Xxxx XXX can reasonably be shown or guaranteed. Terms and conditions of the Inherited Xxxx XXX which affect your investment decisions are listed below. INVESTMENT OPTIONS You choose the investments which will fund your Inherited Xxxx XXX. Your investment choices are limited to investments we offer directly or those that are acceptable to us as Custodian. FEES There are certain fees and charges connected with the invest- ments you may select for your Inherited Xxxx XXX. These fees and charges may include the following. • Sales Commissions • Set-Up Fees • Investment Management Fees • Annual Maintenance Fees • Distribution Fees • Surrender or Termination Fees To find out what fees apply, read the prospectus or contract, which will describe the terms of the investment you choose. There may be certain fees and charges connected with the Inherited Xxxx XXX itself. These include: • Transfer Fees • Termination Fees • Rollover Fees • Annual Maintenance Fees • Private Placement Fees • Alternative Investment Fees We reserve the right to change any of the above fees after notice to you, as provided in your Inherited Xxxx XXX Plan Agreement.
Inherited Xxxx Individual Retirement Custodial Account Agreement. ARTICLE II
Inherited Xxxx Individual Retirement Custodial Account Agreement appointing such authorized agent. We will 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, actions, or failures to act by your authorized agent. You will have 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 will be deemed correct and accurate, and we will 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. You acknowledge and agree that nothing in this agreement will be construed as conferring fiduciary status upon us. We will not be required to perform any additional 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 respect to Xxxx 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 including, but not limited to, electronic communication.
Inherited Xxxx Individual Retirement Custodial Account Agreement. 2. The custodian agrees to submit to the IRS and depositor the reports prescribed by the IRS.
Inherited Xxxx Individual Retirement Custodial Account Agreement from an eligible retirement plan that you have inherited as an eligible beneficiary. The rollover and transfer rules are generally summarized below. These transactions are often complex. If you have any questions regarding a rollover or transfer, please see a competent tax advisor.
Inherited Xxxx Individual Retirement Custodial Account Agreement inherited Xxxx XXX in any manner whatsoever, except as provided by law or this agreement. The assets in your inherited Xxxx XXX will not be responsible for the debts, contracts, or torts of any person entitled to distributions under this agreement.
Inherited Xxxx Individual Retirement Custodial Account Agreement. Life Expectancy Table, and pay those distributions to you until you direct otherwise Death of Original Owner On or After January 1, 2020 The entire amount remaining in your account will generally be distributed by December 31 of the year containing the tenth anniversary of the original owner’s death unless you are an xxx- gible designated beneficiary or the account has no designated beneficiary for purposes of determining a distribution period. If you are an eligible designated beneficiary, the entire amount remaining in your account may be distributed (in ac- cordance with the Treasury Regulations) over your remaining life expectancy (or over a period not extending beyond your life expectancy). An eligible designated beneficiary is any designated benefi- ciary who is: • The original owner’s surviving spouse; • The original owner’s child who has not reached the age of majority; • Disabled (a physician must determine that your impairment can be expected to result in death or to be of long, contin- ued, and indefinite duration); • An individual who is not more than 10 years younger than the original owner; or • Chronically ill (a chronically ill individual is someone who
Inherited Xxxx Individual Retirement Custodial Account Agreement transfers from inherited Xxxx IRAs. In order to combine these inherited retirement assets in the same inherited Xxxx XXX, you must have inherited the assets from the same owner and they must have been subject to the same beneficiary payment elections and calculation methods as under the receiving inherited Xxxx XXX. Rollover is a term used to describe a direct movement of cash or other property to your inherited Xxxx XXX from an eligible retire- ment plan that you have inherited as an eligible beneficiary. The rollover and transfer rules are generally summarized below. These transactions are often complex. If you have any questions regard- ing a rollover or transfer, please see a competent tax advisor.
Inherited Xxxx Individual Retirement Custodial Account Agreement. CRDs will be taxed ratably over a three-year period, unless you elect otherwise. If you are a spouse beneficiary, you may repay these distributions over three years beginning with the day fol- lowing the day a CRD is made. Repayments may be made to your eligible retirement plan or IRA. An eligible retirement plan is defined as a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, 457(b) eligible governmental deferred compensation plan, or an IRA. IRA FINANCIAL DISCLOSURE INVESTMENT RESPONSIBILITIES You may direct the investment of your funds within this Inherited Xxxx XXX into any investment instrument offered by or through the Custodian. Except as provided for in a separate writing, the Custodian will not exercise any investment discretion, or provide investment recommendations or advice regarding your IRA, as this is solely your responsibility. The value of your Inherited Xxxx XXX will be solely dependent upon the performance of any investment instrument chosen by you to fund your Inherited Xxxx XXX. Therefore, no projection of the growth of your Inherited Xxxx XXX can reasonably be shown or guaranteed. Terms and conditions of the Inherited Xxxx XXX which affect your investment decisions are listed below. INVESTMENT OPTIONS You choose the investments which will fund your Inherited Xxxx XXX. Your investment choices are limited to investments we offer directly or those that are acceptable to us as Custodian. FEES There are certain fees and charges connected with the invest- ments you may select for your Inherited Xxxx XXX. These fees and charges may include the following. • Sales Commissions • Set-Up Fees • Investment Management Fees • Annual Maintenance Fees • Distribution Fees • Surrender or Termination Fees To find out what fees apply, read the prospectus or contract, which will describe the terms of the investment you choose. There may be certain fees and charges connected with the Inherited Xxxx XXX itself. These include: • Transfer Fees • Termination Fees • Rollover Fees • Annual Maintenance Fees • Private Placement Fees • Alternative Investment Fees We reserve the right to change any of the above fees after notice to you, as provided in your Inherited Xxxx XXX Plan Agreement.
