Common use of Use of These Beneficiary IRA Documents Clause in Contracts

Use of These Beneficiary IRA Documents. IRS Form 5305-A was initially designed by the IRS for use by a depositor to establish his/ her own IRA. Beneficiary IRAs are specifically permitted by the IRS; however, they are subject to certain special rules, which are described below and in the disclosure statement. The IRS has not created a form 5305 series agreement specifically designed for a beneficiary IRA. Therefore, the standard IRS Form 5305-A is used as the basis for our agreement with you. However, certain provisions of Articles I through VII and the instructions of this IRS Form 5305-A do not apply to you, as beneficiary of the depositor, or to your Beneficiary IRA. On the other hand, Articles II, III, V, and VII generally apply to you in the same manner as provided for the depositor.

Use of These Beneficiary IRA Documents. IRS Form 5305-A RA was initially designed by the IRS for use by a depositor to establish his/ her own IRA. Beneficiary IRAs are specifically permitted by the IRS; however, they are subject to certain special rules, which are described below and in the disclosure statement. The IRS has not created a form 5305 series agreement specifically designed for a beneficiary IRA. Therefore, the standard IRS Form 5305-A RA is used as the basis for our agreement with you. However, certain provisions of Articles I through VII VIII and the instructions of this IRS Form 5305-A RA do not apply to you, as beneficiary of the depositor, or to your Beneficiary IRA. On the other hand, Articles II, III, VIV, V.1, V.2, VI, and VII VIII generally apply to you in the same manner as provided for the depositor.