Common use of Prohibited Investments Clause in Contracts

Prohibited Investments. I acknowledge and agree that neither the Custodian nor the Administrator will make any determination as to whether any transaction or investment in my Account is prohibited under any other state or federal law. I accept full responsibility to ensure that the investments in my account comply with all applicable federal and state laws, regulations and requirements. Each investment direction I or my Representative provides shall constitute a representation that such direction complies with all applicable federal and state laws, regulations and requirements. Prohibited Transactions: I understand that my account is subject to the provisions of Internal Revenue Code (IRC) Section 4975, which defines certain prohibited transactions. I acknowledge and agree that neither the Custodian nor the Administrator will make any determination as to whether any transaction or investment in my account is prohibited under sections 4975, 408(e) or 408A, or under any other state or federal law. I accept full responsibility to ensure that none of the investments in my account will constitute a prohibited transaction and that the investments in my account comply with all applicable federal and state laws, regulations and requirements. Unrelated Business Income Tax: I understand that my account is subject to the provisions of IRC Sections 511-514 relating to Unrelated Business Taxable Income (UBTI) of tax- exempt organizations. I agree that if I direct the Administrator to make an investment in my account which generates UBTI, I will be responsible for preparing or having prepared the required IRS Form 990-T tax return, an application for an Employer Identification Number (EIN) for my account, and any other documents that may be required, and to submit them to the Administrator for filing with the Internal Revenue Service at least ten (10) days prior to the date on which the return is due, along with an appropriate directive authorizing the Administrator to execute the forms on behalf of my account and to pay the applicable tax from the assets in my account. I understand that the Custodian and the Administrator do not make any determination of whether or not investments in my account generate UBTI; have no duty to and do not monitor whether or not my account has incurred UBTI; and do not prepare Form 990-T on behalf of my account. Responsibility for determining eligibility and tax consequences: I assume complete responsibility for 1) determining that I am eligible to make a contribution to my account; 2) ensuring that all contributions I make are within the limits set forth by the relevant sections of the Internal Revenue Code; and 3) the tax consequences of any contribution (including a rollover contribution) and distributions. Valuations: I understand that the assets in my Account may be required to be valued annually at the end of each calendar year. If required, I agree to provide the year end value of any illiquid and/or non-publicly traded investments, which may include without limitation limited partnerships, limited liability companies, privately held stock, REITs, BDCs, hedge funds, real estate, secured and unsecured promissory notes, and any other investments as the Custodian shall designate for valuation, by no later than January 15th of each year, with substantiation attached to support the value provided. NuView does not conduct appraisals and does not verify any values provided to it by the Account Owner, Investment Sponsor or any other investment representative. NuView may, as a courtesy, request on behalf of your Account a fair market value from the Investment Sponsor or pricing contact associated with the investment(s) within your Account requiring a value. Any fair market values furnished as a result of the request will be provided to Account Owner via Account statements and the Administrator’s online portal. When required, if NuView does not receive a fair market value for an illiquid asset annually, NuView will use the last provided fair market value or if none, the original purchase price on Account statements. NuView shall have no responsibility to obtain a fair market value from the Account Owner or the Investment Sponsor. An illiquid asset value listed in an Account statement is deemed accepted by the Account Owner, and NuView will have no liability with respect to such statement, if not disputed by the Account Owner in writing within 45 days of the statement being issued in paper or available electronic form.

Prohibited Investments. I acknowledge and agree that neither the Custodian nor the Administrator will make any determination as to whether any transaction or investment in my Account is prohibited under any other state or federal law. I accept full responsibility to ensure that the investments in my account comply with all applicable federal and state laws, regulations and requirements. Each investment direction I or my Representative provides shall constitute a representation that such direction complies with all applicable federal and state laws, regulations and requirements. Prohibited Transactions: I understand that my account is subject to the provisions of Internal Revenue Code (IRC) Section 4975, which defines certain prohibited transactions. I acknowledge and agree that neither the Custodian nor the Administrator will make any determination as to whether any transaction or investment in my account is prohibited under sections 4975, 408(e) or 408A, or under any other state or federal law. I accept full responsibility to ensure that none of the investments in my account will constitute a prohibited transaction and that the investments in my account comply with all applicable federal and state laws, regulations and requirements. Tax Reporting and Statements: Custodian will provide ministerial custodial services and therefore WILL NOT provide any tax forms to the Account Owner or the IRS. The Account Owner and/or responsible party (who may be the Account Owner’s Representative) will be responsible to obtain tax reporting documents directly from investment sponsors/managers with whom the Account holds an investment interest (“Investment Sponsor”). Custodian will furnish Account Owners and/or Representatives annually with a statement regarding all the transactions and activities executed under this Agreement. Account Owner is responsible for the preparation and filing of any tax returns associated with the Account. Unrelated Business Income Tax: I understand that my account is subject to the provisions of IRC Sections 511-514 relating to Unrelated Business Taxable Income (UBTI) of tax- exempt organizations. I agree that if I direct the Administrator to make an investment in my account which generates UBTI, I will be responsible for preparing or having prepared the required IRS Form 990-T tax return, an application for an Employer Identification Number (EIN) for my account, and any other documents that may be required, and to submit them to the Administrator for filing with the Internal Revenue Service at least ten (10) days prior to the date on which the return is due, along with an appropriate directive authorizing the Administrator to execute the forms on behalf of my account and to pay the applicable tax from the assets in my account. I understand that the Custodian and the Administrator do not make any determination of whether or not investments in my account generate UBTI; have no duty to and do not monitor whether or not my account has incurred UBTI; and do not prepare Form 990-T on behalf of my account. Responsibility for determining eligibility and tax consequences: I assume complete responsibility for 1) determining that I am eligible to make a contribution to my account; 2) ensuring that all contributions I make are within the limits set forth by the relevant sections of the Internal Revenue Code; and 3) the tax consequences of any contribution (including a rollover contribution) and distributions. Valuations: I understand that the assets in my Account may be required to be valued annually at the end of each calendar year. If required, I agree to provide the year end value of any illiquid and/or non-publicly traded investments, which may include without limitation limited partnerships, limited liability companies, privately held stock, REITs, BDCs, hedge funds, real estate, secured and unsecured promissory notes, and any other investments as the Custodian shall designate for valuation, by no later than January 15th of each year, with substantiation attached to support the value provided. NuView does not conduct appraisals and does not verify any values provided to it by the Account Owner, Investment Sponsor or any other investment representative. NuView may, as a courtesy, request on behalf of your Account a fair market value from the Investment Sponsor or pricing contact associated with the investment(s) within your Account requiring a value. Any fair market values furnished as a result of the request will be provided to Account Owner via Account statements and the Administrator’s online portal. When required, if NuView does not receive a fair market value for an illiquid asset annually, NuView will use the last provided fair market value or if none, the original purchase price on Account statements. NuView shall have no responsibility to obtain a fair market value from the Account Owner or the Investment Sponsor. An illiquid asset value listed in an Account statement is deemed accepted by the Account Owner, and NuView will have no liability with respect to such statement, if not disputed by the Account Owner in writing within 45 days of the statement being issued in paper or available electronic form.