Examples of Xxxxxxxxx ESA Account in a sentence
A prospectus containing detailed information about each Mutual Fund that is an Eligible Investment available for investment of your Xxxxxxxxx ESA Account must be furnished before investment.
The Xxxxxxxxx ESA Account established under this Xxxxxxxxx ESA Custodial Agreement is referred to herein as the “Custodial Account”.
BNY Mellon is an authorized entity and can serve as Custodian of your Xxxxxxxxx ESA Account.
All contributions to the Xxxxxxxxx ESA Account must be in the form of “cash,” but contributions to a Xxxxxxxxx ESA are not deductible.
I agree that the Custodian may amend (add to, delete from or revise) any term of the Xxxxxxxxx ESA Custodial Agreement at any time by notice to me and that my sole remedy if I disagree with the amendment is to transfer funds in the Xxxxxxxxx ESA Account to another custodian.
Your Xxxxxxxxx ESA Account must be designated as a Xxxxxxxxx ESA when you establish your Xxxxxxxxx ESA Account in order for your Xxxxxxxxx ESA Account to be treated as a Xxxxxxxxx ESA for tax purposes.
I agree that the Xxxxxxxxx ESA Account becomes effective only upon written acceptance by the Custodian and that such written acceptance will consist of a confirmation of transaction statement.
Each contribution to the Xxxxxxxxx ESA Account will be invested in accordance with the written instructions provided with respect to that contribution.
Xxxxxxxxx ESA Accounts established using the Xxxxxxxxx ESA Custodial Agreement will meet the requirements of the Code applicable to Xxxxxxxxx ESAs. However, the IRS has not endorsed the investments permitted under this Xxxxxxxxx ESA Account.
I acknowledge that certain circumstances beyond the control of the Custodian may occur, which result in a liquidation of Mutual Funds that are Eligible Investment in which the Xxxxxxxxx ESA Account is invested, or which result in the liquidation of Investments of the Xxxxxxxxx ESA Account.