Fill - Free fillable Kit Ira Bene Non Spousepdf1586187263 PDF form

Beneficiary

Account

Kit

Traditional IRA

Non - Spouse Beneficiary

Dear Account Beneficiary,

Mainstar Trust understands that this time may be difficult and confusing. To assist you, we

have compiled this Beneficiary Account Kit. While the Kit may not cover all situations or

circumstances, it provides basic information for you regarding your beneficiary options.

The beneficiary options are listed on the Beneficiary Distribution Election Form, at the back of

this kit. Please review these options and determine the best one for you. You may want to

consult a tax advisor before making your election.

A beneficiary has until September 30 of the year following the year of the death of the

accountholder to choose his or her option. To ensure that your election is recorded by the

deadline, please complete and return the appropriate documents as detailed on the Next

Steps page included in this packet.

If you have any questions, please contact us at 800.521.9897 and one of our Customer

Service Representatives will help you.

Sincerely,

Mainstar Trust

:HVWWK6WUHHW

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Onaga, Kansas 66521-0420

P)8005219897

F)913.901.4190

www.mainstartrust.com

Revised 9-2018 Page 1 of 2

Next Steps …

Once your beneficiary distribution election has been determined, it is time to proceed with

executing your elected option. Below are items required to complete your election, please review

and submit all documents/forms to Mainstar Trust at the address listed below.

 If you are a Non-Spouse Beneficiary other than an estate or trust opening an Inherited

Traditional IRA account with Mainstar Trust, please provide the following:

1. Original Death Certificate

2. Mainstar Trust Inherited Traditional IRA Application and Beneficiary

Distribution Election form

3. One time set up fee

4. Letter of Instruction – This letter should indicate how to transfer the

specific asset(s). If you choose to liquidate asset(s), a Sales

Authorization must be completed in addition to the Letter of Instruction.

 If you are a Non-Spouse Beneficiary other than an estate or trust transferring to an

Inherited Traditional IRA at another custodian. We will first establish an Inherited

Traditional IRA account with Mainstar Trust and then complete the transfer to the new

custodian, please provide the following:

1. Original Death Certificate

2. Mainstar Trust Inherited Traditional IRA Application and Beneficiary

Distribution Election form

3. One time set up fee

4. Letter of Instruction signed by beneficiary – This letter will need to

5. indicate that once the account is established, it will be closed and

transferred to another custodian. The letter should indicate how to

transfer the specific asset(s). If you choose to liquidate asset(s), a Sales

Authorization must be completed in addition to the Letter of Instruction.

6. Acceptance transfer paperwork from new custodian.

 If you are a Non-Spouse Beneficiary and are closing the IRA account, please provide the

following:

1. Original Death Certificate

2. Mainstar Trust Withdrawal Request – This should include how to transfer

the specific asset(s). If you choose to liquidate asset(s), a Sales

Authorization must be completed in addition to the Withdrawal Request.

3. W-9 for beneficiary

 If the beneficiary is the estate/trust and it is opening an Inherited Traditional IRA account

for the estate/trust, please provide the following:

1. Original Death Certificate

2. Letter of Testamentary – Estate Only

3. Copy of Trust showing who the trustee/trustee(s) is – Trust Only

4. Mainstar Trust Inherited Traditional IRA Application and Beneficiary

Distribution Election form

5. One time set up fee

6. Letter of Instruction– This letter should indicate how to transfer the

specific asset(s). If you choose to liquidate asset(s), a Sales

Authorization must be completed in addition to the Letter of Instruction.

Revised 9-2018 Page 2 of 2

Next Steps Continued …

 If the beneficiary is the estate/trust and it is closing the account with Mainstar Trust,

please provide the following:

1. Original Death Certificate

2. Letter of Testamentary – Estate Only

3. Copy of Trust showing who the trustee/trustee is – Trust Only

4. W-9 to show estate/trust TIN

5. Mainstar Trust Withdrawal Request – signed by executor/trustee(s). This

document should also include instructions on how all assets held in the

IRA account will be transferred. If you choose to liquidate asset(s), a

Sales Authorization must be completed in addition to the Withdrawal

Request.

 If the beneficiary is a charity and it is closing the account with Mainstar Trust, please

provide the following:

1. Original Death Certificate

2. Withdrawal Request signed by authorized signer of charity

3. W-9 for Charity

If you believe your option is not listed above, please contact Mainstar Trust at the address and or

numbers referenced below to assist you with your option.

Once you have all documents/items completed, please submit to us at the address below:

Mainstar Trust

214 West 9

Street

Onaga, KS 66521

Attn: Death Claims

Phone: 800.521.9897

Fax: 913-901-4190

Revised 12-2015 Page 1 of 2

Additional Information

and Definitions :

For Additional Guidance. Before

completing this document, it is in your best

interest to consult a tax or legal professional.

Mainstar Trust cannot provide advice or

guidance on which option to choose.

Multiple Beneficiaries. If you are one of

multiple beneficiaries, you may find that

other beneficiaries and/or timing of the IRA

owner’s death may restrict spousal, non-

spousal, non-person methods of distribution.

Included in this Kit is a list of all options base

on the type of beneficiary you are.

Required Beginning Date (RBD). The

RBD is April 1 of the year following the year

in which an IRA owner attains age 70 ½.

Determination Date. The determination

date is September 30 of the year following

the IRA owner’s death.

Designated Beneficiaries. A designated

beneficiary is an individual who has a

remaining interest in the IRA on the

determination date. An individual who was

named as a beneficiary by the IRA owner

and has a right to all or a portion of the IRA

assets is not necessarily a designated

beneficiary under the law. A named

beneficiary who distributes his or her entire

interest in the IRA or disclaims his or her

interest before the determination date will be

eliminated from the designated beneficiary

determination.

A beneficiary who dies before the

determination date will still be considered for

designated beneficiary status.

A designated beneficiary sets the life

expectancy period for distributions after an

IRA owner’s death. When there are multiple

designated beneficiaries, the age of the

oldest beneficiary on the determination date

is used for calculating required minimum

distributions for all beneficiaries, unless

separate accounting applies in accordance

with Treasury Regulation 1.401(a)(9)-8.

Spouse as Sole Designated Beneficiary.

Special rules apply to a surviving spouse

who is the only beneficiary on the

determination date. If the IRA owner died

before his or her RBD, such spouse can

postpone receipt of the required distribution

until the year the deceased IRA owner

would have reached age 70 ½. Such

spouse can also elect to treat the IRA as his

or her own IRA and if the surviving spouse is

under age 70 ½, not be required to distribute

until he or she attains age 70 ½.

Single Life Expectancy. Single life

expectancy is the number of years an

individual is expected to live based on

various statistical and actuarial variables.

The IRS provides a single life expectancy

table in its regulations and in the IRS

Publication 590. A factor from the single life

expectancy table will be divided into an IRA

beneficiary’s shares of an IRA’s previous

year-end balance to calculate a required

minimum distribution for the year for that

beneficiary.

There are two ways to determine the

appropriate single life expectancy factor

each year a distribution to a beneficiary is

required – the attained age method

(recalculation) and the reduction method

(non-recalculation).

Five-Year Rule. The five-year rule requires

the beneficiary’s interest in the IRA to be

fully distributed by the end of the fifth year

following the IRA owner’s death. Mainstar

Trust does not keep track of this date; it is

up to the Inherited IRA owner.

Spouse Beneficiary Rollovers. Any

spouse beneficiary can take a distribution of

his or her share of a deceased spouse’s IRA

and roll it over to his or her own IRA.

Federal Withholding and the Purpose of

the IRS Form W-4P. You must elect

whether to have federal income tax withheld

from your IRA distribution. You can make

this election on the substitute W-4P or you

can attach an actual IRS Form W-4P.

Unless elected otherwise, IRA distributions

will have federal income tax withheld at a flat

rate of 10 percent. You may use this form to

elect to have no income tax withheld (except

for payments to US citizens delivered

outside the US or its possessions), or to

Revised 12-2015 Page 2 of 2

have 10 percent or more withheld. Check

the box reflecting your choice. Your election

will apply to any later distributions from the

same IRA. You may revoke your previous

election from withholding by completing a

new W-4P form with the custodian. The

payer will not send copies of Form W-4P to

the IRS.

Required Minimum Distributions. If you

are a non-spouse beneficiary and are

required to take an annual payment from

your Inherited account, Mainstar Trust does

not automatically calculate those for you,

you may contact us and request our

assistance in the calculation.

Disclaiming. If multiple beneficiaries exist

and one beneficiary disclaims his or her

interest, the remaining beneficiaries receive

his or her portion. The beneficiary that

disclaims cannot instruct has to where his or

her portion goes. If a beneficiary disclaims

their interest, this is an irrevocable election,

must be completed in writing, and must be

done within nine months of the date of

death. We would suggest before any

beneficiary proceeds with this option, they

contact their legal counsel.

ORIGINAL IRA OWNER INFORMATION

Original Owner Name

Account Number

Address

Social Security Number

Date of Birth

Date of Death

BENEFICIARY INFORMATION

Beneficiary Name

Social Security Number

Address

Date of Birth

Phone Number

Relationship to Original

IRA Owner

BENEFICIARY OPTIONS

Applies to All Beneficiary Types

 Total Distribution

 Transfer to an Inherited IRA at Mainstar Trust or another

Custodian

Applies to Spouse Beneficiaries Only

 Total Distribution

 Roll Over or Transfer to My Own IRA

 Roll Over to a Qualified Plan

BENEFICIARY ELECTION

Defaults to Life Expectancy Payments if no option is selected.

Traditional IRA Beneficiary Election

Original IRA Owner Died Before April 1 of the Year Following the Owner becoming 70 ½

NON-SPOUSE

Payments Over 5 Years

Life Expectancy Payments

SPOUSE

Payments Over 5 Years

Life Expectancy Payments

Treat as My Own

NON-INDIVIDUAL

Payments Over 5 Years

Original IRA Owner Died After April 1 of the Year Following the Owner becoming 70 ½

NON-SPOUSE

Life Expectancy Payments

SPOUSE

Life Expectancy Payments

Treat as My Own

NON-INDIVIDUAL

Payments Over 5 Years

Life Expectancy Payments

Roth Beneficiary Election

NON-SPOUSE

Payments Over 5 Years

Life Expectancy Payments

SPOUSE

Payments Over 5 Years

Life Expectancy Payments

Treat as My Own

NON-INDIVIDUAL

Payments Over 5 Years

AUTHORIZED SIGNATURE

Beneficiary Signature Date

DESIGNATED BENEFICIARY ELECTION

Forward To: 214 West 9

Street

PO Box 420

Onaga, KS 66521-0420

P) 800.521.9897

F) 913.901.4190

customerservice@mainstartrust.com

Please Print or Type

9/2019

Clear Form

Page 1 of 13

PART 1. INHERITED IRA OWNER

Name (First/MI/Last) ______________________________________________________

Address Line 1 ___________________________________________________________

Address Line 2 ___________________________________________________________

City/State/ZIP ____________________________________________________________

Email Address ____________________________________________________________

Social Security Number ____________________________________________________

Date of Birth _____________________________________________________________

Home Phone Number ______________________________________________________

Dayme Phone Number

____________________________________________________

Fax Number ______________________________________________________________

PART 2. INHERITED IRA CUSTODIAN

Name ___________________________________________

Address Line 1 ____________________________________

Address Line 2 ____________________________________

City/State/ZIP ____________________________________

Phone __________________________________________

Inherited IRA Account Number ______________________

(For Internal Use Only)

Traditional IRA Simplier

Inherited Individual Retirement Account Application

2/2020

Mainstar Trust

214 W 9th St

PO Box 420

Onaga, KS 66521-0420

785-889-4213

PART 3. ORIGINAL OWNER’S INFORMATION

Name (First/MI/Last) _________________________________________ Date of Birth ________________________________________________

Social Security Number _______________________________________ Date of Death _______________________________________________

PART 4. CONTRIBUTION INFORMATION

CONTRIBUTION TYPE (Select one)

(If the check is payable to you and you are not a spouse beneciary, the assets are not eligible for an inherited IRA)

Transfer (Direct movement of inherited assets from a Tradional IRA into this inherited IRA)

Direct Rollover From an Eligible Employer-Sponsored Rerement Plan (A direct movement of inherited assets from an eligible employer-

sponsored rerement plan into this inherited IRA)

A spouse beneciary also has the following opon available.

Indirect Rollover From an Eligible Employer-Sponsored Rerement Plan (Inherited assets were paid to the spouse beneciary and are now being

moved into this inherited IRA)

PART 5. PAYMENT ELECTION INFORMATION

Has there been a payment elecon made for the assets you inherited from the employer-sponsored rerement plan or Tradional IRA?

Yes No

(If Yes, please provide addional informaon regarding the elecon below.)

The previous payment elecon made (Select one)

Five-Year Rule Life Expectancy Payments*

*If life expectancy payments are being taken, what is the date of birth of the individual whose life expectancy is being used to calculate the

payment?__________________________________

NOTE: If incorrect or incomplete informaon regarding a previous payment elecon is provided, the Custodian will not be held responsible for any

penales that may be incurred due to removing an insucient amount.

PART 6. STATEMENT OPTION

Quarterly Electronic Statement Only (must provide email address above) Annual Paper Statement

Quarterly Paper Statement Monthly Paper Statement

If no box is marked, your statements will be electronic unl you give further direcon to the Custodian. Addional fees will be assessed for paper

statements. Please refer to the Fee Disclosure for a list of all applicable fees. Accountholders selecting electronic statements will not receive paper

transaction advices.

PART 7. INVOICE OPTION

Charge Account (Default) Bill me ACH – Debit Checking or Savings Account Please aach voided check or savings withdrawal slip

If no box is marked, your account will be charged.

REQUIRED

One time setup fee and annual account fee to be included with Simplifier.

Make check payable to Mainstar Trust.

Clear Form

Page 2 of 13

PART 8. DESIGNATION OF SUCCESSOR BENEFICIARY

I designate that upon my death, the assets in this inherited account be paid to the beneficiaries named below. The interest of any beneficiary that

predeceases me terminates completely, and the percentage share of any remaining beneficiaries will be increased on a pro rata basis. If no beneficiaries

are named, my estate will be my beneficiary.

I elect not to designate successor beneficiaries at this time and understand that I may designate successor beneficiaries at a later date.

PRIMARY BENEFICIARIES (The total percentage designated must equal 100%. If more than one beneciary is designated and no percentages are

indicated, the beneciaries will be deemed to own equal share percentages in the inherited IRA.)

Name

Address

City/State/ZIP

Date of Birth Relationship

Tax ID (SSN/TIN) Percent Designated

Name

Address

City/State/ZIP

Date of Birth Relationship

Tax ID (SSN/TIN) Percent Designated

CONTINGENT BENEFICIARIES (The total percentage designated must equal 100%. If more than one beneciary is designated and no percentages

are indicated, the beneciaries will be deemed to own equal share percentages in the inherited IRA. The balance in the account will be payable to

these beneciaries if all primary beneciaries have predeceased the inherited IRA owner.)

Name

Address

City/State/ZIP

Date of Birth Relationship

Tax ID (SSN/TIN) Percent Designated

Name

Address

City/State/ZIP

Date of Birth Relationship

Tax ID (SSN/TIN) Percent Designated

Check here if addional successor beneciaries are listed on an aached addendum. Total number of addenda attached

This is page 2 of the inherited IRA Applicaon for__________________________________________, Account Number _________________________

Your Representative (and his/her BP or RIA firm) will be allowed access to online account statements and other account information. The Custodian

may furnish account information to your Representative (and his/her BP or RIA firm) electronically via a delivery method of the Custodian’s choice

in its sole discretion.

If you wish to grant addional trading authority you must check the box below.

My Representave is authorized to buy, sell, deliver and/or sele trades of any assets in accordance with the terms and condions of the

Custodian upon the wrien direcon of my Representave. Th

e Custodian has the right to rely on any representaons and/or warranes made by

my Representave in connecon with a sale or purchase on behalf of my account, including but not limited to, representaons with regard to

prohibited transacons and suitability requirements.

REPRESENTATIVE ACCEPTANCE

I agree to accept the designaon of “Representave” for this account and all the dues and responsibilies arising from that designaon. I have

access to the Inherited Individual Rerement Account Applicaon, 5305-A Plan Agreement, Financial Disclosure, Privacy Noce, Summary of

Accountholder Responsibilies, and Fee Disclosure. I agree to be bound by the terms of these documents. I understand that if I change rms, BD or

RIA aliaons, it is my responsibility to nofy the Custodian and the asset companies and to complete the necessary documentaon to change my

aliaon. I understand that I will not receive acvity, cash, statements or transacon reports via hard copy/paper. Electronic access will be denied if

the email address is incorrect or invalid.

X______________________________________________________________________________________________________ ___________________________________

Authorized Representative Signature Date (mm/dd/yyyy)

PART 9. DESIGNATION OF REPRESENTATIVE (Optional)

YOUR REPRESENTATIVE

Name _______________________________________________________

Address _____________________________________________________

City/State/ZIP ________________________________________________

Phone Number __________________ Fax Number __________________

Email Address ________________________________________________

BROKER DEALER or RIA AFFILIATION (if any)

Name _____________________________________________________

If my Representave is aliated with a BD or RIA rm and to assist the

BD or RIA rm with its supervisory responsibilies, the Custodian may

make available to or furnish my account informaon to my

Representave’s respecve BD or RIA as set forth above.

If my Representave changes rms, BD, or RIA aliaons, my

Representave will connue to have the same authority on my account.

It is my Representave’s responsibility to nofy both the Custodian and

me of any change in my Representave’s rm, BD, or RIA aliaon. My

Representave also must nofy the asset companies and the Custodian of

and complete the necessary BD or RIA documents to change his/her

rm, BD, or RIA aliaon.

Page 3 of 13

PART 10. SPOUSAL CONSENT

CURRENT MARITAL STATUS

I Am Not Married – I understand that if I become married in the future, I should complete a new inherited IRA Designaon of Beneciary form.

I Am Married – I understand that if I choose to designate a primary beneciary other than my spouse, my spouse must sign below.

The following Consent of Spouse must be completed if you are married and do not name your spouse as the sole primary beneciary. This applies to

residents of all states, not just the community or marital property states. Due to the important tax consequences of giving up one’ s property interest,

individuals signing this secon should consult with a competent tax or legal advisor.

CONSENT OF SPOUSE

I am the spouse of the above-named inherited IRA owner. I acknowledge that I have received a fair and reasonable disclosure of my spouse’s

property and nancial obligaons. Due to the important tax consequences of giving up my interest in this inherited IRA, I have been advised to see a

tax professional.

I hereby give the inherited IRA owner any interest I have in the funds or property deposited in this inherited IRA, now or hereaer, and consent to

the beneciary designaon(s) indicated above. I assume full responsibility for any adverse consequences that may result. No tax or legal advice was

given to me by the Custodian.

X______________________________________________________________________________________________________ ___________________________________

Signature of Spouse Date (mm/dd/yyyy)

PART 11. SIGNATURES

Important: Please read before signing.

I understand the eligibility requirements for the type of inherited IRA contribuon I am making and I state that I do qualify to make the contribuon.

I have received a copy of the Inherited Individual Rerement Account Applicaon, the 5305 Individual Rerement Custodial Account Plan Agreement,

the Financial Disclosure, the Disclosure Statement, the Privacy Noce, the Summary of Accountholder Responsibilies, and the Fee Disclosure

(“Documents”). I have read and understand that the terms and condions of this inherited IRA account are held within these Documents. By signing

below, I agree to be bound by the terms and condions of these Documents. Within seven (7) days from the date I open this inherited IRA I may

revoke it without penalty by mailing or delivering a wrien noce to the Custodian.

I assume complete responsibility for

• determining that I am eligible to establish an inherited IRA;

• insuring that all rollover or transfer contribuons I make are within the limits set forth by the tax laws; and

• the tax consequences of any rollover or transfer contribuons and distribuons.

I recognize that the products purchased and/or held within this account are

• not insured by the FDIC;

• not a deposit or other obligaon of, or guaranteed by, Mainstar Trust;

• subject to investment risks, including possible loss of the principal amount invested.

This Agreement and the exhibits and disclosures referenced herein contains the enre agreement of the pares with respect to the subject maer of

this Agreement, and supersedes all prior negoaons, agreements and understandings between the pares, whether wrien or oral, with respect

thereto. I hereby acknowledge and agree that I have not relied on any representaon, asseron, guarantee, warranty, other contract or other

assurance, except as set forth herein, made by or on behalf of any other party or any other person or enty whatsoever, prior to the execuon of this

Agreement. This Agreement may only be amended by a wrien document duly executed by all pares.

X______________________________________________________________________________________________________ ___________________________________

Inherited IRA Owner Date (mm/dd/yyyy)

X______________________________________________________________________________________________________ ___________________________________

Authorized Signature of Custodian Date (mm/dd/yyyy)

This is page 3 of the inherited IRA Applicaon for__________________________________________, Account Number _________________________

Page 4 of 13

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:

ARTICLE I

Except in the case of a rollover contribuon described in secon 402(c),

403(a)(4), 403(b)(8), 408(d)(3), or 457(e)(16), an employer contribuon

to a simplied employee pension plan as described in secon 408(k)

or a recharacterized contribuon described in secon 408A(d)(6), the

custodian will accept only cash contribuons up to $5,500 per year for tax

years 2013 through 2017. For individuals 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 reect a cost-of-living adjustment, if any.

ARTICLE II

The depositor’s interest in the balance in the custodial account is

nonforfeitable.

ARTICLE III

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 collectibles

(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.

ARTICLE IV

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 thereunder, 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

depositor 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 remaining interest will be distributed over the surviving

spouse’s life expectancy as determined each year until such

spouse’s death, or over the period in paragraph (a)(iii) below if

longer. Any interest remaining after the spouse’s death will be

distributed over such spouse’s remaining life expectancy as

determined in the year of the spouse’s death and reduced by

one for each subsequent year, or, if distributions are being made

over the period in paragraph (a)(iii) below, over such period.

(ii) the designated beneficiary is not the depositor’s surviving

spouse, the remaining interest will be distributed over the

beneficiary’s remaining life expectancy as determined in the

year following the death of the depositor and reduced by one

for each subsequent year, or over the period in paragraph (a)

(iii) below if longer.

(iii) there is no designated beneficiary, the remaining interest will

be distributed over the remaining life expectancy of the

depositor as determined in the year of the depositor’s death

and reduced by one for each subsequent year.

(b) If the depositor dies before the required beginning date, the

remaining interest will be distributed in accordance with paragraph

(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 surviving

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 distributed in accordance with

paragraph (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 paragraph

(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

distributed 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, beginning

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 business 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 minimum distribution for a year

shall not be more than the depositor’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 ages) in

the year.

INDIVIDUAL RETIREMENT CUSTODIAL ACCOUNT AGREEMENT

Form 5305-A under secon 408(a) of the Internal Revenue Code. FORM (Rev. April 2017)

Page 5 of 13

(b) The required minimum distribution under paragraphs 3(a) and 3(b)

(i) for a year, beginning with the year following the year of the

depositor’s death (or the year the depositor would have reached

age 70½, if applicable under paragraph 3(b)(i)) is the account value

at the close of business on December 31 of the preceding year

divided by the life expectancy (in the single life table in Regulations

section 1.401(a)(9)-9) of the individual specified in such paragraphs

3(a) and 3(b)(i).

reaches age 70½ can be made as late as April 1 of the following

year. The required minimum distribution for any other year must

be made by the end of such year.

6. The owner of two or more Traditional IRAs may satisfy the minimum

distribution requirements described above by taking from one

Traditional IRA the amount required to satisfy the requirement for

another in accordance with the regulations under section 408(a)(6).

ARTICLE V

1. The depositor agrees to provide the custodian with all information

necessary to prepare any reports required by section 408(i) and

Regulations sections 1.408-5 and 1.408-6.

2. The custodian agrees to submit to the Internal Revenue Service (IRS)

and depositor the reports prescribed by the IRS.

ARTICLE VI

Notwithstanding any other articles which may be added or incorporated,

the provisions of Articles I through III and this sentence will be controlling.

Any additional articles inconsistent with section 408(a) and the related

regulations will be invalid.

ARTICLE VII

This agreement will be amended as necessary to comply with the

provisions of the Code and the related regulations. Other amendments

may be made with the consent of the persons whose signatures appear on

the application.

ARTICLE VIII

8.01 Definitions – In this part of this agreement (Article VIII), the words

“you” and “your” mean the inherited IRA owner. The words “we,”

“us,” and “our” mean the custodian. The words “inherited IRA

owner” mean the individual establishing this inherited IRA with

either a direct rollover contribution from an eligible inherited

employer-sponsored retirement plan or a transfer from an inherited

IRA. The word “Code” means the Internal Revenue Code,

“regulations” means the Treasury regulations, and the word

“Account Representative” or “Representative” means any individual

you have delegated his or her investment responsibilities to under

Section 8.07.

8.02 Notices and Change of Address – Any required notice regarding

this inherited IRA will be considered effective when we send it to

the intended recipient at the last address that we have in our

records. Any notice to be given to us will be considered effective

when we actually receive it. You, or the intended recipient, must

notify us of any change of address.

8.03 Representations and Responsibilities – You represent and warrant

to us that any information you have given or will give us with respect

to this Agreement is complete and accurate. Further, you agree that

any directions you or your Account Representative give us, or action

you or your Account Representative take will be proper under this

Agreement and that we are entitled to rely upon any such

information or directions. You acknowledge that we are under no

obligation to determine what actions or documentation may be

necessary or appropriate with respect to any transaction requested

by you or your Account Representative, and that we need only

obtain those documents specified by you or your Account

Representative in any authorization (i.e. purchase or sale

authorization). We will have no duty to confirm or ascertain that any

such document or instrument obtained in connection with any

transaction is genuine or authentic, or that it has been properly or

correctly executed or entered into by any purported party thereto.

Upon receipt of any report or statement, you must inform us in

writing if you believe any information on the report/statement is

incorrect within 30 days after the report/statement is sent. If you do

not so inform us, then we shall be relieved from all liability regarding

the status of your account as stated in the report/statement.

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, damages or expenses you incur in

connection with your inherited IRA. We have no duty to determine

whether your contributions or distributions comply with the Code,

Regulations, rulings or this Agreement. The Custodian agrees to

submit reports to the Internal Revenue Service and the Depositor

prescribed by the Internal Revenue Service. You agree to prepare

and provide to us Form 990-T, if required. We are responsible for

filing Form 990-T with the IRS once you have provided it to us.

8.04 Disclosure of Account Information – We may use agents and/or

subcontractors to assist in administering your inherited IRA. We

may release nonpublic personal information regarding your

inherited IRA to such providers as necessary to provide the

products and services made available under this agreement, and to

evaluate our business operations and analyze potential product,

service, or process improvements.

8.05 Service Fees – We have the right to charge an annual service fee or

other designated fees (e.g. a transfer, rollover or termination fee,

etc.) for maintaining your inherited IRA. We may also charge

additional fees for complex transactions requiring extraordinary

time and attention from our staff. In addition, we have the right to

be reimbursed for all reasonable expenses, including various

transaction and legal expenses, we incur in connection with the

administration of your inherited IRA. We may charge you separately

for any fees or expenses, or we may deduct the amount of the fees

or expenses from the assets in your inherited IRA at our discretion.

We reserve the right to charge any additional fee upon 30 days

notice to you that the fee will be effective. Any brokerage

commissions attributable to the assets in your inherited IRA will be

charged to your inherited IRA. You cannot reimburse your inherited

IRA for these commissions or any Service Fees paid from your

inherited IRA.

Fees are billed quarterly and will be automatically deducted from

available cash or Custodian may charge to your credit card (Visa or

MasterCard), if authorized. Rejected credit card charges are subject

to a $25 reprocessing fee. If payment is not received within thirty

(30) days from the due date reflected on your invoice, a $15 Late Fee

will be assessed to your account and a Past Due Notice will be

mailed. Should fees not be collected we have the option to cease

performing any functions, including, but not limited to, processing

investment transactions until such time as all fees charged against

the account are fully paid. Additionally we may liquidate assets from

the account, without notice, for any outstanding fee which has not

been paid. We may, at our discretion, liquidate sufficient assets to

cover outstanding fees plus one year’s estimated fees, including

termination fees. Due to the nature of certain investments a partial

liquidation may not be possible. In such cases we may liquidate your

Page 6 of 13

entire holdings in the investment. Upon receipt, proceeds will be

first applied to outstanding fees. Remaining balances, if any, will be

placed into your account and deposited in an account as described

in paragraph 5 of 8.07(a).

In the event that fees are not paid within thirty (30) days after

mailing the Past Due Notice we will begin the process of closing your

account. Any asset distributed directly to you as a part of closing

your account will be reported to the IRS on Form 1099-R and may

subject you to possible taxes and penalties. Accounts with past due

fees, unfunded accounts and accounts with zero value will continue

to incur administration and maintenance fees until such time as you

notify us in writing (on a form prescribed by us) of your intent to

close the account or we resign as custodian. You will be liable for all

past due fees, re-registration fees, late fees and account termination

fees. In the event of nonpayment we may employ a collection

agency to recover any unpaid fees or expenses.

The Custodian is entitled to receive, from the assets held in your

Account, a fee equal in amount to all the income that is generated

from any Undirected Cash (defined as any cash in your Account not

invested pursuant to a specific investment direction by you, the

Accountholder) which is held by Custodian in an account or product

of an FDIC or other United States government insured financial

institution, United States government security, or security that is

insured or guaranteed by the United States government (Custodial

Fee). You agree that the Custodial Fee may be retained by Custodian

as compensation for the services provided by Custodian. The

Custodial Fee is associated with cash management activities,

including, but not limited to, account maintenance, depository bank

selection, transaction processing, sub-accounting, recordkeeping,

and other services performed under the terms of this Agreement

and your Account Application.

We may also receive compensation in the form of shareholder

servicing fees, sub-transfer agency fees, and other types of fees paid

by certain mutual funds or their affiliates in consideration of services

we provide to them, e.g., purchase and redemption of shares and

participant-level recordkeeping. This compensation is paid to us

pursuant to service agreements between the funds and us. Under no

circumstances will you be responsible for the payment of this

compensation to us, nor will you be entitled to any offsets or credits

to the service fees and expenses you owe to us by reason of our

having received this compensation. The compensation paid to us is

based either on a set fee per investor or on a percentage of the

average daily net asset value of shares invested in the fund.

8.06 Restrictions on Contributions to the Inherited IRA – Your inherited

IRA may receive multiple rollover contributions from inherited

qualified retirement plans, 403(a) annuity plans, 403(b) tax-

sheltered annuity plans, or 457(b) governmental deferred

compensation plans, or multiple transfers from inherited Traditional

IRAs. In order to combine these inherited retirement assets in the

same inherited IRA, 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 IRA. You may not make regular contributions

to this inherited IRA.

8.07 Investment of Amounts in the IRA –

a. Direction of Investment. You acknowledge that it is your sole

responsibility to direct the investment of your inherited IRA

assets and that we, acting as custodian of your account, will have

no responsibility or involvement in evaluating or selecting any

assets for acquisition or disposition, and shall have no liability for

any loss or damage that may result from or be associated with

any requested investment transaction. You shall direct all

investment transactions, including earnings and the proceeds

from securities sales. Your investment choices are limited to

investments that the Custodian is capable of holding in the

ordinary course of its business and in accordance with its policies

and practices.

At our sole discretion, we reserve the right to not accept any

investment into your custodial account. Certain types of

investments may pose unacceptable administrative burdens to

us, and therefore, we reserve the right to not accept such

investments into your custodial account. Administrative burdens

include, but are not limited to, the inability of our computer,

accounting, or other systems to service the asset or excessive

manual labor to service the asset. In addition, all assets must

comply with Trust Company policies. We reserve the right to

review any or all investments to determine if the asset is

administratively feasible to us. Our review will be solely

administrative in nature. Our decision to not accept an asset

should in no way be construed as a determination concerning

the prudence or suitability of the investment for your inherited

IRA. Likewise, acceptance of the asset by us should not be

construed as a favorable opinion as to the prudence or suitability

of the investment for your inherited IRA. Our review of any asset

you desire to purchase and hold in your custodial account should

in no way be construed as a “due diligence” review. We do not

perform any type of feasibility study, nor do we research or

confirm any financial information regarding any investment.

You and upon your death, your Beneficiary agree to indemnify

and hold harmless the Custodian from and against all losses,

expenses, settlement payments, or judgements incurred by, or

entered against the Custodian as the result of any threatened or

asserted claim against the Custodian that pertains in any way to:

the Custodian’s activities with you; your investments; and/or

any situation or matter associated with this account. Your

indemnification obligations also include the responsibility to

reimburse the Custodian for all attorneys’ fees and costs

incurred by the Custodian in: responding to threatened claims

by any party; defending (including an appeal) against asserted

claims by any party; and/or prosecuting (including an appeal) a

claim or counterclaim against you requesting payment of the

indemnification obligation set forth herein. Your indemnification

obligation applies to any threatened or asserted claim against us

including specifically, a claim that is threatened or asserted by

you against us. Your indemnification obligation hereunder also

applies to any threatened or asserted claims brought by you

against us resulting from wrongful conduct by any representative

appointed by you including, but not limited to, fraud, forgery or

any other illegal act engaged in by your representative or other

agent retained by you.

You agree to indemnify and hold us harmless from and against

any and all claims, liabilities, causes of action, losses and

expenses (including, without limitation, any court costs,

attorney’s fees and other expenses) asserted against or incurred

by us as a result of, or in any way relating to, any action

requested or directed by you or your Account Representative.

In the absence of instructions from you or if your instructions

are not in a form acceptable to us, the Custodian shall hold

your Undirected Cash in an account or product of an FDIC or

other United States government insured financial institution,

United States government security, or security that is insured

or guaranteed by the United States government, unless or

otherwise directed by you. The account is insured for up to the

amount available under the FDIC insurance; amounts in the

account in excess of FDIC insurance limits are not insured.

Page 7 of 13

Directions regarding your account must be in writing from either

you or your designated representative. In the event that we

receive written investment directions from either you or your

designated representative, we may rely on the genuineness of all

signatures and shall be under no duty to investigate any

directions or investment decisions. You authorize us to honor

original and fax copies of requests from you or the representative

you have appointed. We shall be under no duty to investigate the

genuineness of the signatures, but may employ any means of

verification we wish if we elect to pursue verification.

Custodian shall be under no obligation or duty to secure, verify

title to or otherwise evaluate the assets underlying any

investment contemplated herein, or to obtain or maintain

insurance coverage (whether liability, property or otherwise)

with respect to any such assets or investments or the collateral

for such investment. The Custodian shall be fully protected in

acting upon any instrument, certificate or paper believed to be

genuine and to be signed or presented by the proper person or

persons, and the Custodian shall be under no duty to make any

investigation or inquiry as to any statement contained in any

such writing but may accept the same as conclusive evidence of

the truth and accuracy of the statements therein contained.

Further, Custodian is not providing legal or tax services or advice

with respect to the investment and the undersigned absolves

and indemnifies Custodian in the event that the investment or

sale of assets pursuant to any investment directions violates any

federal or state law or regulation or otherwise results in a

disqualification, penalty or tax imposed upon the IRA, Custodian

or the undersigned. Furthermore, the undersigned authorizes

and directs Custodian to execute and deliver, on behalf of his or

her IRA, any and all documents delivered to Custodian in

connection with such investment; and Custodian shall have no

responsibility to verify or determine that any such documents are

complete, accurate or constitute the documents necessary to

comply with the above investment direction.

All transactions shall be subject to any and all applicable Federal

and State laws and regulations and the rules, regulations,

customs and usages of any exchange, market or clearing house

where the transaction is executed and to our policies and

practices.

After your death, your beneficiary(ies) shall have the right to

direct the investment of your IRA assets, subject to the same

conditions that applied to you during your lifetime under this

Agreement (including, without limitation, Section 8.03).

b. Our Investment Powers and Duties – We shall have no discretion

to direct any investment in your inherited IRA. We assume no

responsibility for rendering investment advice with respect to

your inherited IRA, nor will we offer any opinion or judgment to

you on matters concerning the value or suitability of any

investment or proposed investment for your inherited IRA. We

shall exercise the voting rights and other shareholder rights with

respect to securities in your inherited IRA but only in accordance

with the instructions you give to us.

We, in no way, guarantee the account from loss or depreciation.

Our liability to make any payment from the account is at all times

limited to the then available assets of the account.

Except to the extent, if any, that may be required by applicable

law, we shall have no duty or obligation to monitor or make you

or your Account Representative aware of the receipt or non-

receipt of any funds payable to your account with respect to any

assets in such account (e.g., dividends, interest or other

distributions) or to provide you with any other information or

documentation (other than pleadings, orders or official notices

arising from any judicial proceeding) that we may receive or

become aware of with respect to such assets. (For example, and

not by way of limitation, we shall have no obligation or duty to

provide you with any information or documentation with respect

to tender offers from 3rd parties, or that have not been registered

with the Securities and Exchange Commission.) We shall have no

duty to undertake any action with respect to the collection or

enforcement of any payments or rights relating to such assets

(including, without limitation, any participation in any bankruptcy

proceedings, receivership proceedings, foreclosures or other

litigation, or the perfection or enforcement of any lien or other

rights with respect to such assets) without receiving prior

instruction from you, accompanied by such undertaking of

indemnification as we may request to assure us that we will be

fully reimbursed and protected with respect thereto. Without

limitation on the foregoing, we may however, if we so elect,

advised by counsel if deemed appropriate, respond and

participate in any such bankruptcy proceeding, receivership

proceedings, or other litigation to which we or your account may

have been made a party, and in such case we shall be fully

indemnified and protected by you for any action taken by us in

good faith. We shall be entitled to seek the advice of legal counsel

in connection with any matter relating to your account or any

assets, and may in good faith rely and act upon such advice.

c. Delegation of Investment Responsibility – We may, but are not

required to, permit you to delegate your investment responsibility

for your inherited IRA to another party acceptable to us by giving

written notice of your delegation in a format we prescribe. We

shall follow the direction of any such party who is properly

appointed and we shall be under no duty to review or question,

nor shall we be responsible for, any of that party’s directions,

actions or failures to act. We have the right to rely on any

representations and/or warranties made by your Account

Representative in connection with any sale or purchase on behalf

of your account, including but not limited to representations with

regard to prohibited transactions and suitability requirements.

Said Representative may be a registered representative of a

broker/dealer organization, a financial advisor or any other

person as may be acceptable to you. The Representative shall be

your authorized agent and is not the agent of the Custodian. We

shall construe all investment directions given by your

representative, whether written or oral, as having been authorized

by you. You may appoint and/or remove your representative by

written notice to the Custodian provided that the removal of

Representative shall not have the effect of canceling any notice,

instruction, direction or approval received by the Custodian from

the removed Representative before the Custodian received said

notice of removal from you.

8.08 Successor Beneficiaries – We may allow you, if permitted by state

law, to name successor beneficiaries for your 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 your

lifetime. Each inherited IRA beneficiary designation form that you

file with us will cancel all previous designations. The consent of a

successor beneficiary will not be required for you to revoke a

successor beneficiary designation. If you do not designate a

successor beneficiary, your estate will be the successor beneficiary.

In no event will the successor beneficiary be able to extend the

distribution period beyond that required for you.

If we so choose, for any reason (e.g., due to limitations of our

charter or bylaws), we may require that a successor beneficiary

take total distribution of all IRA assets by December 31 of the year

following the year of death.

Page 8 of 13

8.09 Required Minimum Distributions – You are required to take

minimum distributions from your inherited IRA. The options

available to you as a beneficiary of a deceased plan participant or

deceased IRA owner are described in Article IV, section three. A

spouse beneficiary will have all rights as granted under the Code or

applicable regulations to treat the inherited account as his or her

own. If you elect to take life expectancy payments, the payment

must be removed each year by December 31. If you have previously

made a distribution election with the prior plan or IRA, you may not

extend the distribution period for that election by moving it to an

inherited IRA. An exception applies if you have inherited a qualified

retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or

457(b) governmental deferred compensation plan, and previously

elected or defaulted to the five-year rule. The five-year rule election

may be changed to a life expectancy payment election if, by

December 31 of the year following the year of the plan participant’s

death, you remove a life expectancy-based payment before rolling

the remaining assets to your inherited IRA.

If you have elected to take life expectancy payments and fail to

request your required minimum distribution by December 31, we

can, at our complete and sole discretion, do any one of the

following.

• Make no distribution until you give us a proper withdrawal

request

• Distribute your entire inherited IRA to you in a single sum

payment

We will not be liable for any penalties or taxes related to your

failure to take a required minimum distribution.

After your death your successor beneficiaries, if any, must continue

with payments in accordance with the distribution method you had

chosen, or must accelerate the payments.

8.10

Termination of Agreement, Resignation, or Removal of Custodian

–

Either party may terminate this agreement at any time by giving

written notice to the other. We can resign as custodian at any time

effective 30 days after we send written notice of our resignation to

you. Upon receipt of that notice, you must make arrangements to

transfer your inherited IRA to another financial organization. If you

do not complete a transfer of your inherited IRA within 30 days

from the date we send the notice to you, we have the right to

transfer your inherited IRA assets to a successor inherited IRA

trustee or custodian that we choose in our sole discretion, or we

may pay your inherited IRA to you in a single sum. We will not be

liable for any actions or failures to act on the part of any successor

trustee or custodian, nor for any tax consequences you may incur

that result from the transfer or distribution of your assets pursuant

to this section.

If this agreement is terminated, we may charge to your inherited

IRA a reasonable amount of money that we believe is necessary to

cover any associated costs, including but not limited to one or more

of the following.

• Any fees, expenses, or taxes chargeable against your inherited

IRA

• Any penalties or surrender charges associated with the early

withdrawal of any savings instrument or other investment in

your inherited IRA

We may establish a policy requiring distribution of the entire

balance of your inherited IRA to you in cash or property if the

balance of your inherited IRA drops below the minimum balance

required under the applicable investment or policy established.

8.11 Successor Custodian – If our organization changes its name,

reorganizes, merges with another organization (or comes under the

control of any federal or state agency), or if our entire organization

(or any portion that includes your inherited IRA) is bought by

another organization, that organization (or agency) will

automatically become the trustee or custodian of your inherited

IRA, but only if it is the type of organization authorized to serve as

an inherited IRA trustee or custodian.

8.12 Amendments – We have the right to amend this agreement at any

time. Any amendment we make to comply with the Code and

related regulations does not require your consent. You will be

deemed to have consented to any other amendment unless, within

30 days from the date we send the amendment, you notify us in

writing that you do not consent.

8.13 Withdrawals or Transfers – All requests for withdrawal or transfer

will be in writing on a form provided by or acceptable to us. The

method of distribution must be specified in writing or in any other

method acceptable to us. The tax identification number of the

recipient must be provided to us before we are obligated to make

a distribution. Withdrawals will be subject to all applicable tax and

other laws and regulations, including but not limited to possible

early distribution penalty taxes, surrender charges, and withholding

requirements.

8.14 Transfers From Other Plans – We can receive amounts transferred

to this inherited IRA from the trustee or custodian of another

inherited Traditional IRA. In addition, we can accept rollovers of

eligible rollover distributions from inherited employer-sponsored

retirement plans as permitted by the Code. We reserve the right

not to accept any transfer or rollover.

8.15 Liquidation of Assets – We have the right to liquidate assets in your

inherited IRA if necessary to make distributions or to pay fees,

expenses, taxes, penalties, or surrender charges properly chargeable

against your inherited IRA. If you fail to direct us as to which assets

to liquidate, we will decide, in our complete and sole discretion, and

you agree to not hold us liable for any adverse consequences that

result from our decision.

8.16 Valuation – The assets in your account shall be valued annually at

the end of each calendar year, but we retain the right to value the

assets in your account more frequently. We will value the

investments of the account utilizing various third-party pricing

sources and designated valuation agents. However, we do not

guarantee the accuracy of prices obtained from these sources. The

year end value of illiquid and/or non-publicly traded investments,

which may include without limitation limited partnerships, limited

liability companies, privately held stock, real estate investment

trusts, hedge funds, and such other investments as we may

designate, must be provided to us no later than the following

January 10th by the asset’s designated valuation agent or third

party pricing source. If we do not receive a current market value by

the following January 10th for such investment, we shall be entitled

to use as that year end’s fair market value the last fair market value

provided to us, or if none, the original purchase price of the

investment for all applicable tax reporting and year-end statement

valuations. At any point after there has been a failure to provide us

with a fair market value for a period exceeding 9 months after

requested, we may distribute the investment at its last reported

value to you, or after your death your beneficiary and shall have no

responsibility or liability for any tax, financial, or other consequences

relating to or arising from such distribution. Unless we have

received written information to the contrary, promissory notes and

privately offered corporate debt will have valuations reflected at

the face value shown on the original note or debt instrument or if

Page 9 of 13

the note is such that it is subject to an amortization schedule,

valuation may be shown at amortized value. We are not responsible

for the timeliness or the accuracy of the fair market value for any

investment, and shall have no responsibility or liability for acting on

a fair market value so provided, or the last fair market value utilized

if none is provided, or for the accuracy of a Required Minimum

Distribution (“RMD”) calculated upon either such value. If we are

required to obtain a fair market value for an investment due to a

court order or similar circumstance, we may obtain an appraisal

from an independent third party, paying the cost for said appraisal

from the liquid investments held in the account, or in the alternative

after having first received the cost of the appraisal from you or your

beneficiary if liquid investments in the account are otherwise

insufficient. You, and upon your death, your beneficiary agree to

indemnify us and hold us harmless from and against all losses,

expenses, settlements or claims with regard to investment

decisions, distribution values, tax reporting or any other financial

impact or consequence relating to or arising from the valuation of

assets in the account.

8.17 Restrictions on the Fund – Neither you nor any successor beneficiary

may sell, transfer, or pledge any interest in your inherited IRA in any

manner whatsoever, except as provided by law or this agreement.

The assets in your inherited IRA will not be responsible for the

debts, contracts, or torts of any person entitled to distributions

under this agreement.

8.18 What Law Applies – This Agreement is subject to all applicable

Federal and State laws and regulations. You agree that where state

law applies, Kansas law will govern this instrument, any other

instrument executed in connection with your account, and you,

your agent and our respective rights and obligations hereunder or

otherwise with respect to the account and assets. This document

and any other document executed in connection with your account

does not become effective until a signed copy has been received

and accepted by us in the State of Kansas (the taking of action by us

of any authorization will constitute our acceptance). We will have

the right to refuse to accept and to not act upon, any instruction or

direction given by you or your agent, provided that we promptly

notify you or your agent of such election and refusal. You

acknowledge and understand that all of our duties and undertakings

will be carried out in the State of Kansas, and agree that any claims

or disputes that arise in connection with your account or any assets

or any transaction requested by you or your agent must be brought

in arbitration as described in Section 8.21 below. If it is necessary to

apply any State law to interpret and administer this Agreement, the

law of Kansas will govern. If any part of this Agreement is held to be

illegal or invalid, the remaining parts will not be affected. Neither

party’s failure to enforce at any time or for any period of time any

of the provisions of this Agreement will be construed as a waiver of

such provisions, nor a waiver of either party’s right thereafter to

enforce each and every provision.

8.19 Indemnity of Custodian – To the extent not prohibited by Federal

or State law, you agree to indemnify, defend and hold us, our

subsidiaries and affiliates (including officers, agents and employees)

harmless against and from any and all claims, demands, liabilities,

costs and expenses (including reasonable attorneys’ fees and

expenses), arising in connection with this agreement, with respect

to: any negligence or alleged negligence, whether passive or active,

by us, our subsidiaries or affiliates (including officers, agents and

employees); any breach or alleged breach, whether passive or

active, by us, our subsidiaries or affiliates (including officers, agents

and employees) of any responsibilities under this Agreement; any

breach or alleged breach, whether passive or active, by a third party

of responsibilities under this Agreement; or any claim arising out of

the purchase, holding or sale of any investments in the IRA,

whether directed by you or any agent appointed by you. You

further agree to pay for our defense and the defense of our

subsidiaries and affiliates (including officers, agents and employees)

by independent counsel of our choice against any such claims,

demands, liabilities or costs referred to above.

You agree to indemnify, defend and hold us, our subsidiaries and

affiliates (including officers, agents and employees) harmless

against and from any and all payments or assessments which may

result from holding any publicly-traded security or any nonstandard,

non-publicly traded or illiquid investment within the IRA account,

and further agree that we and our subsidiaries and affiliates

(including officers, agents and employees) shall be under no

obligation whatsoever to extend credit or otherwise disburse

payment beyond the cash balance of your account for any payment

or assessment related to such investment(s).

8.20 Adverse Claims – If we receive any claim to the assets held in the

IRA which is adverse to your interest or the interest of your

beneficiary, and we in our absolute discretion decide that the claim

is, or may be meritorious, we may withhold distribution until the

claim is resolved or until instructed by a court of competent

jurisdiction. As an alternative, we may deposit all or any portion of

the assets in the IRA into the court through a motion of interpleader.

Deposit with the court shall relieve us of any further obligation with

respect to the assets deposited. We have the right to be reimbursed

from the funds deposited for our legal fees and costs incurred.

8.21 Inherited IRA Not Guaranteed – We do not guarantee the inherited

IRA from loss or depreciation. Our liability to make payment to you

at any time and all times is limited to the available assets of the

inherited IRA.

8.22 Arbitration of Claims – ARBITRATION OF DISPUTES. PLEASE READ

THIS ARBITRATION PROVISION CAREFULLY. IT PROVIDES THAT ANY

CONTROVERSY OR DISPUTE BE RESOLVED BY BINDING ARBITRATION.

ARBITRATION REPLACES THE RIGHT TO GO TO COURT, INCLUDING

THE RIGHT TO A JURY AND THE RIGHT TO PARTICIPATE IN A CLASS

ACTION OR SIMILAR PROCEEDING.

Agreement to arbitrate. You and we agree that either you or we

may, without the other’s consent, require that any Claims between

you and us be submitted to mandatory, binding arbitration except

for certain matters excluded below. This arbitration provision is

made pursuant to a transaction involving interstate commerce, and

will be governed by, and enforceable under, the Federal Arbitration

Act (the “FAA”), 9 U.S.C. § 1 et seq., and (to the extent State law is

applicable), the State law governing this transaction.

Claims subject to Arbitration include, but are not limited to: Any

controversy arising out of or relating to this Agreement or the

breach thereof, or to the inherited IRA or any transactions authorized

by you and/or your agent.

Arbitration location, finality, procedures, waiver of jury trial,

class action or any representative action. Arbitration will occur in

Johnson County, Kansas according to the rules of The American

Arbitration Association. Arbitration is final and binding on the

parties. The Parties are waiving their right to seek remedies in

court, including the right to jury trial. Claims made as part of a class

action or other representative action, and the arbitration of such

Claims must proceed on an individual (non-class, non-

representative) basis. If you or we require arbitration of a particular

Claim, neither you, we, nor any other person may pursue the Claim

in any litigation, whether as a class action, private attorney general

action, other representative action or otherwise. Pre-arbitration

discovery is generally more limited than and different from court

proceedings. If any portion of this arbitration provision is deemed

invalid or unenforceable, the remaining portions will nevertheless

remain in force.

Page 10 of 13

GENERAL INSTRUCTIONS

Section references are to the Internal Revenue Code unless otherwise noted.

PURPOSE OF FORM

Form 5305-A is a model custodial account agreement that meets the

requirements of secon 408(a). However, only Articles I through VII have

been reviewed by the IRS. A Tradional individual rerement account

(Tradional IRA) is established aer the form is fully executed by both the

individual (depositor) and the custodian. To make a regular contribution

to a Traditional IRA for a year, the IRA must be established no later

than the due date of the individual’s income tax return for the tax year

(excluding extensions). This account must be created in the United States

for the exclusive benet of the depositor and his or her beneciaries.

Do not le Form 5305-A with the IRS. Instead, keep it with your records.

For more informaon on IRAs, including the required disclosures the

custodian must give the depositor, see Pub. 590-A, Contributions to

Individual Retirement Arrangements (IRAs), and Pub. 590-B, Distributions

from Individual Retirement Arrangements (IRAs).

DEFINITIONS

Custodian – The custodian must be a bank or savings and loan associaon,

as dened in secon 408(n), or any person who has the approval of the

IRS to act as custodian.

Depositor – The depositor is the person who establishes the custodial

account.

TRADITIONAL IRA FOR NONWORKING SPOUSE

Form 5305-A may be used to establish the IRA custodial account for a

nonworking spouse.

Contribuons to an IRA custodial account for a nonworking spouse must

be made to a separate IRA custodial account established by the nonworking

spouse.

SPECIFIC INSTRUCTIONS

Article IV – Distributions made under this article may be made in a single

sum, periodic payment, or a combination of both. The distribution option

should be reviewed in the year the depositor reaches age 70½ to ensure

that the requirements of section 408(a)(6) have been met.

Article VIII – Article VIII and any that follow it may incorporate additional

provisions that are agreed to by the depositor and custodian to complete

the agreement. They may include, for example, definitions, investment

powers, voting rights, exculpatory provisions, amendment and termination,

removal of the custodian, custodian’s fees, state law requirements,

beginning date of distributions, accepting only cash, treatment of excess

contributions, prohibited transactions with the depositor, etc. Attach

additional pages if necessary.

Page 11 of 13

RIGHT TO REVOKE YOUR INHERITED IRA

You have the right to revoke your inherited IRA within seven days of the

receipt of the disclosure statement. If revoked, you are entled to a full

return of the contribuon you made to your inherited IRA. The amount

returned to you would not include an adjustment for such items as sales

commissions, administrave expenses, or uctuaon in market value. You

may make this revocaon only by mailing or delivering a wrien noce to

the custodian at the address listed on the applicaon.

If you send your noce by rst class mail, your revocaon will be deemed

mailed as of the postmark date.

If you have any quesons about the procedure for revoking your inherited

IRA, please call the custodian at the telephone number listed on the

applicaon.

REQUIREMENTS OF AN INHERITED IRA

A. Form of Contribution – Your contribuon must be either a rollover

contribuon from an eligible inherited employer-sponsored rerement

plan or a transfer contribuon from an inherited Tradional IRA. Your

rollover or transfer contribuon may be in cash and/or property.

B. Contribution Restrictions – You may not make regular contribuons to

your inherited IRA.

C. Nonforfeitability – Your interest in your inherited IRA is nonforfeitable.

D. Eligible Custodians – The custodian of your inherited IRA must be a

bank, savings and loan associaon, credit union, or a person or enty

approved by the Secretary of the Treasury.

E. Commingling Assets

–

The assets of your inherited IRA cannot be

commingled with other property except in a common trust fund or

common investment fund.

F. Life Insurance – No poron of your inherited IRA may be invested in

life insurance contracts.

G. Collectibles – You may not invest the assets of your inherited IRA in

collecbles (within the meaning of IRC Sec. 408(m)). A collecble is

dened as any work of art, rug or anque, metal or gem, stamp or

coin, alcoholic beverage, or other tangible personal property specied

by the Internal Revenue Service (IRS). However, specially minted

United States gold and silver coins, and certain state-issued coins

are permissible investments. Planum coins and certain gold, silver,

planum, or palladium bullion (as described in IRC Sec. 408(m)(3)) are

also permied as inherited IRA investments.

H. Required Minimum Distributions – You are required to take minimum

distribuons from your inherited IRA at certain mes in accordance with

Treasury Regulaon 1.408-8. The calculaon of the required minimum

distribuon is based, in part, on determining the original owner’s

designated beneciary. A designated beneciary is determined based

on the beneciaries designated as of the date of the original owner’s

death, who remain beneciaries as of September 30 of the year

following the year of the original owner’s death. Below is a summary

of the inherited IRA distribuon rules.

1. If the original IRA owner or employer-sponsored retirement plan

participant died on or after the original owner’s required beginning

date, distributions must be made to you over the longer of your single

life expectancy, or the original owner’s remaining life expectancy. If

the original owner’s designated beneficiary was not an individual or

qualified trust as defined in the Treasury regulations, the original IRA

or employer-sponsored retirement plan will be treated as having no

designated beneficiary for purposes of determining the distribution

period. If there is no designated beneficiary of the original IRA or

employer-sponsored retirement plan, distributions will commence

using the original owner’s single life expectancy, reduced by one in

each subsequent year.

2. If the original IRA owner or employer-sponsored retirement plan

participant died before the original owner’s required beginning

date, the entire amount remaining in the account will, at your

election, either

(a) be distributed by December 31 of the year containing the fifth

anniversary of the original owner’s death, or

(b) be distributed over your remaining life expectancy.

As a designated beneficiary of the original owner, you must elect

either option (a) or (b) by December 31 of the year following the

year of the original owner’s death. If no election is made, the

distribution will be calculated in accordance with option (b). In the

case of distributions under option (b), distributions must commence

by December 31 of the year following the year of the original

owner’s death. If the original owner’s designated beneficiary

is not an individual or qualified trust as defined in the Treasury

regulations, the original IRA or employer-sponsored retirement

plan will be treated as having no designated beneficiaries for

purposes of determining the distribution period. If there is no

designated beneficiary of the original IRA or employer-sponsored

retirement plan, the entire inherited IRA must be distributed by

December 31 of the year containing the fifth anniversary of the

original owner’s death.

If you have inherited a qualified retirement plan, 403(a) annuity,

403(b) tax-sheltered annuity, or 457(b) governmental deferred

compensation plan and have either elected or defaulted to

payments under the five-year rule, you may change to a life

expectancy payment election if, by December 31 of the year

following the year of the original owner’s death, you remove a life

expectancy-based payment before rolling over the remaining assets

to your inherited IRA.

3. If you have elected to take life expectancy payments and fail to

request your required minimum distribution by December 31, we

reserve the right to do any one of the following.

(a) Make no distribution until you give us a proper withdrawal

request

(b) Distribute your entire inherited IRA to you in a single sum

payment

based on your life expectancy calculated using the Single Life

Expectancy Table, and pay those distributions to you until you

direct otherwise

If you fail to remove a required minimum distribuon, an addional

penalty tax of 50 percent is imposed on the amount of the required

minimum distribuon that should have been taken but was not. You

must le IRS Form 5329 along with your income tax return to report

and remit any addional taxes to the IRS.

INCOME TAX CONSEQUENCES OF ESTABLISHING AN

INHERITED IRA

A. Tax-Deferred Earnings – The investment earnings of your inherited IRA

are not subject to federal income tax unl distribuons are made (or,

in certain instances, when distribuons are deemed to be made).

B. Taxation of Distributions – The taxaon of inherited IRA distribuons

depends on whether or not the original IRA owner had ever made

nondeducble IRA contribuons or aer-tax contribuons to the

employer-sponsored rerement plan. If the original owner had only

made deducble IRA contribuons or pretax contribuons to an

employer-sponsored rerement plan, all inherited IRA distribuon

amounts will be included in income.

DISCLOSURE STATEMENT

Page 12 of 13

If the original owner had ever made nondeducble contribuons

to any IRA or aer-tax contribuons to an employer-sponsored

rerement plan, the following formula must be used to determine the

amount of any inherited IRA distribuon excluded from income.

(Aggregate Nondeducble Contribuons)

x (Amount Withdrawn)

–––––––––––––––––––––––––––––––––– = Amount Excluded From Income

Aggregate IRA Balance

NOTE: Aggregate nondeducble contribuons include all nondeducble

contribuons made by the original owner through the end of the year of

the distribuon that have not previously been withdrawn and excluded

from income. Also note that the aggregate IRA balance includes the

total balance of all of the original owner’s IRAs as of the end of the year

of distribuon and any distribuons occurring during the year.

C. Income Tax Withholding – Any withdrawal from your inherited IRA

is subject to federal income tax withholding. You may, however, elect

not to have withholding apply to your inherited IRA withdrawal. If

withholding is applied to your withdrawal, not less than 10 percent of

the amount withdrawn must be withheld.

D. Early Distribution Penalty Tax – No 10 percent early distribuon

penalty tax will apply to the inherited IRA distribuon because the

distribuon is due to the death of the original owner.

E. Rollovers and Transfers – Your inherited IRA may receive mulple

rollover contribuons from inherited qualied rerement plans,

403(a) annuity plans, 403(b) tax-sheltered annuity plans, or 457(b)

governmental deferred compensaon plans, or mulple transfers

from inherited Tradional IRAs. In order to combine these inherited

rerement assets in the same inherited IRA, you must have inherited

the assets from the same owner and they must have been subject to

the same beneciary payment elecons and calculaon methods as

under the receiving inherited IRA. Rollover is a term used to describe a

tax-free movement of cash or other property to your inherited IRA from

a qualied rerement plan, 403(a) annuity plan, 403(b) tax-sheltered

annuity, or 457(b) eligible governmental deferred compensaon plan

that you have inherited as a beneciary. The general rollover and

transfer rules are summarized below. These transacons are oen

complex. If you have any quesons regarding a rollover or transfer,

please see a competent tax advisor.

1. Traditional IRA-to-Inherited Traditional IRA Transfers. Assets

you have inherited from a deceased Traditional IRA owner may be

transferred to an inherited IRA. A transfer must be done directly

between IRAs. You may not take constructive receipt of the assets

in a transfer.

2. Employer-Sponsored Retirement Plan-to-Inherited IRA Rollovers.

As a nonspouse or qualified trust beneficiary of a deceased

employer-sponsored retirement plan participant, you may directly

roll over any inherited assets eligible for rollover from a qualified

retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or

457(b) governmental deferred compensation plan to an inherited

IRA. As a spouse beneficiary, you may either directly or indirectly

roll over assets from an eligible inherited employer-sponsored

retirement plan to an inherited IRA. Regardless of the method of

rollover, the IRA must be maintained as an inherited IRA, subject to

the beneficiary distribution requirements.

Written Election. At the time you make a rollover to an inherited

IRA, you must designate in writing to the custodian your election

to treat that contribution as a rollover. Once made, the rollover

election is irrevocable.

LIMITATIONS AND RESTRICTIONS

A. Deduction of Rollovers and Transfers – A deducon is not allowed for

rollover or transfer contribuons to an inherited IRA.

B. Gift Tax – Transfers of your inherited IRA assets to a beneciary made

during your life and at your request may be subject to federal gi tax

under IRC Sec. 2501.

C. Special Tax Treatment – Capital gains treatment and 10-year income

averaging authorized by IRC Sec. 402 do not apply to inherited IRA

distribuons.

D. Prohibited Transactions – If you or any successor beneciary engage

in a prohibited transacon with your inherited IRA, as described in IRC

Sec. 4975, your inherited IRA will lose its tax-deferred status, and you

must include the value of your account in your gross income for that

taxable year. The following transacons are examples of prohibited

transacons with your inherited IRA. (1) Taking a loan from your

inherited IRA (2) Buying property for personal use (present or future)

with inherited IRA assets (3) Receiving certain bonuses or premiums

because of your inherited IRA.

E. Pledging – If you pledge any poron of your inherited IRA as collateral

for a loan, the amount so pledged will be treated as a distribuon and

will be included in your gross income for that year.

OTHER

A. IRS Plan Approval – Arcles I through VII of the agreement used to

establish this inherited IRA have been approved by the IRS. The IRS

approval is a determinaon only as to form. It is not an endorsement

of the plan in operaon or of the investments oered.

B. Additional Information – You may obtain further informaon on IRAs

from your District Oce of the IRS. In parcular, you may wish to

obtain IRS Publicaon 590-A, Contributions to Individual Retirement

Arrangements (IRAs), or Publicaon 590-B, Distribuons from Individual

Rerement Arrangements (IRAs), by calling 800-TAX-FORM, or by

vising www.irs.gov on the Internet.

C. Important Information About Procedures for Opening a New

Account – To help the government ght the funding of terrorism

and money laundering acvies, federal law requires all nancial

organizaons to obtain, verify, and record informaon that idenes

each person who opens an account. Therefore, when you open an

inherited IRA, you are required to provide your name, residenal

address, date of birth, and idencaon number. We may require

other informaon that will allow us to idenfy you.

D. Qualified Charitable Distributions – If you are age 70½ or older, you

may take tax-free inherited IRA distribuons of up to $100,000 per

year and have these distribuons paid directly to certain charitable

organizaons. Special tax rules may apply. For further detailed

informaon you may obtain IRS Publicaon 590-B, Distributions from

Individual Retirement Arrangements (IRAs), from the IRS or refer to

the IRS website at www.irs.gov.

Page 13 of 13

FINANCIAL DISCLOSURE

GROWTH IN THE VALUE OF YOUR IRA

The assets in your IRA account will be invested only in accordance with your (or your duly authorized agent’s) direction. Mainstar Trust does not offer

investment advice or recommend or evaluate the merits or suitability of any investment. The assets in the IRA account at any given time may contain

one or more assets depending upon which investments you have selected. It is therefore impossible to estimate the value of the IRA assets in the

account at any given future point in time. Growth in the value of the IRA account is neither guaranteed nor projected. The value will be computed by

totaling the reported fair market value of the assets in your account.

CUSTODIAN FEES

Mainstar Trust, as Custodian, may charge reasonable fees or compensation for its services and may deduct all reasonable expenses incurred by it in

the administration of your IRA account, including any legal, accounting, distribution, transfer, termination or other designated fees. Such charges are

detailed in the separate Fee Disclosure.

FINANCIAL PRIVACY

NOTICE OF FINANCIAL PRIVACY

You have chosen to do business with Mainstar Trust and we are obligated to honor that relationship with great care, beginning with the information

you have chosen to share with us. We believe that your privacy should not be compromised. At the same time, we want to offer you the services

you need to accomplish your financial goals. We believe we can do both through the privacy policy outlined below. Mainstar Trust believes that the

confidentiality and protection of customer information is one of our fundamental responsibilities. And while information is critical to providing quality

service, we recognize that one of our most important assets is our customers’ trust. Thus, the safekeeping of customer information is a priority for us.

INFORMATION THAT WE COLLECT

Information about consumers is accumulated from a variety of sources. Some information is provided to us directly by customers themselves.

We develop other data as a function of providing a product or service to a customer. Still other information is obtained from outside sources. We

will limit the use and collection of information about our customers to that which is necessary to administer our business and provide superior

service. This means that we will use information to help us identify and mitigate potential risks or loss to Mainstar Trust only in accordance with the

principles set out in this policy.

HOW WE PROTECT YOUR INFORMATION

Mainstar Trust has established procedures to ensure that your financial information is accurate, current, and complete, in keeping with reasonable

commercial standards. We also pledge to respond to requests to correct inaccurate information in a timely manner. Each Mainstar Trust employee

is required to follow our “Code of Conduct,” which states that all customer information is considered private and privileged and is to be used solely

for the purpose of providing the finest service available. We restrict access to customer information to our employees who need access to provide

services to our customers. Mainstar Trust is committed to the security of your financial and personal information. All of our operational and data

processing systems are in a secure environment thereby protecting your account information from being accessed by third parties. We maintain and

grant access to customer information only in accordance with our internal security standards.

WHAT INFORMATION WE DISCLOSE

We may disclose certain customer information to third parties that work for us or assist us in providing services to our customers (for example: Proxy

Mailing Service). We do not reveal specific information about your accounts or other personally identifiable data to parties outside our affiliated

companies for their independent use unless: 1) you request or authorize it; 2) the information is provided to help complete a transaction initiated

by you; 3) the information is provided to a reputable credit bureau or similar information reporting agency; or 4) the disclosure otherwise is lawfully

permitted or required. We do not provide account or personal information to non-affiliated companies for the purpose of independent telemarketing

or direct mail marketing of any products or services.

HOW TO CONTACT US

At Mainstar Trust, we value our customer relationships. We want you to understand how we use the information you provide and our commitment

to ensuring your personal privacy. If you have any questions about how Mainstar Trust protects your confidential information, please call us at

1-800-521-9897.

3/2020 Page 1 of 2

Summary of Accountholder Responsibilities

This summary contains important information concerning the IRA or other custodial account (“Account”) for which

Mainstar Trust (“Mainstar”) is acting as custodian. You are required to read and should understand this notice and, if

you believe necessary, share it with your legal and/or investment advisor. This summary supplements the information

contained in other documents that reflect the relationship between Mainstar and you and does not represent your contract

in its entirety. Please refer to your account agreement for all of the terms of your contract. For purposes of this summary,

the accountholder of an Account is referred to as “you”.

As custodian for your Account, Mainstar is acting solely in a custodial capacity. Mainstar has no discretion to supervise

your investments, or to advise or make any recommendation with respect to the purchase, sale or any other disposition

of any investment or as to the management of your Account, as more fully explained below.

You are Responsible for Investment Directions – You acknowledge that it is your sole responsibility to direct the

investment of your Account assets and that Mainstar has no responsibility or involvement in evaluating or selecting any

assets or investments for acquisition, holding, or disposition. Mainstar has no liability for any taxes, loss, or damage that

may result from or be associated with any requested investment transaction. You must direct all investment transactions,

including the investment of earnings and the proceeds from securities sales. Your investment choices are limited to

investments that Mainstar is capable of holding in the ordinary course of its business and in accordance with its policies

and practices.

Mainstar reserves the right, in its sole discretion, to reject any investment into your Account. Certain types of investments

may pose unacceptable administrative burdens to Mainstar, and therefore, Mainstar reserves the right to reject such

investments into your Account. Administrative burdens include, but are not limited to, the inability of Mainstar’s computer,

accounting, or other systems to service the asset, the inability to obtain an asset’s value, the failure to comply with

Mainstar policies or excessive manual labor to service the asset.

Mainstar reserves the right to review any or all assets to determine if it is administratively feasible to Mainstar. Mainstar’s

review will be solely administrative in nature. Mainstar’s decision to reject an asset should in no way be construed as a

determination concerning the prudence or suitability of the investment for your Account. Likewise, acceptance of the

asset by Mainstar should not be construed as a favorable opinion as to the prudence or suitability of the investment for

your Account. Mainstar’s review of any asset you desire to purchase and hold in your Account should in no way be

construed as a “due diligence” review. Mainstar does not perform any type of feasibility study, nor does it research or

confirm any financial information regarding any investment.

Asset Valuation - Mainstar will value your investment at least annually utilizing various third party pricing services.

Mainstar does not guarantee the accuracy of prices received from said third party services. Pricing contacts for illiquid

and/or non-publicly traded assets will be asked to provide all supporting documentation to substantiate the value. Year-

end valuations for illiquid and/or non-publicly traded assets must be provided to Mainstar no later than January 10 of the

following year. If a current value is not received by January 10, Mainstar will use the last market value provided to it for

all applicable tax reporting and year-end valuations. At any point after there has been a failure to provide Mainstar with

a fair market value for a period exceeding 9 months after requested, Mainstar may distribute the asset at its last reported

value to you, or after your death to your beneficiary. Mainstar has no responsibility or liability for any tax, financial, or

other consequences relating to or arising from such distribution.

Mainstar is not responsible for the timeliness or the accuracy of the fair market value for any asset. Mainstar has no

responsibility or liability for acting on a fair market value provided, or the last fair market value available if none is

provided.

Because your Account is self-directed, no projection of the growth of your Account can reasonably be demonstrated or

guaranteed. The value of your Account is solely dependent upon the performance of any asset chosen by you to fund

your Account. You bear sole responsibility for the suitability of any directed investment and for any adverse

3/2020 Page 2 of 2

consequences arising from your investments, including, without limitation, the inability of Mainstar to value or to sell an

illiquid asset, or the generation of unrelated business taxable income with respect to an asset.

All transactions are subject to any and all applicable Federal and State laws and regulations, Mainstar’s policies and

practices, and the rules, regulations, customs, and usage of any exchange, market, or clearinghouse where the

transaction is executed. In the absence of instructions from you or if your instructions are not in a form acceptable to

Mainstar, it shall hold your Undirected Cash in an account or product of an FDIC or other United States government

insured financial institution (including but not limited to Fidelity Bank, N.A.), or a United States government security, or

security that is insured or guaranteed by the United State government, unless or otherwise directed by you. The Account

is insured for up to the amount available under the FDIC insurance; amounts in the Account in excess of FDIC insurance

limits are not insured.

Mainstar’s Investment Powers and Duties are Limited – Mainstar has no discretion to direct any investment in your

Account. Mainstar assumes no responsibility for rendering investment advice with respect to your Account, nor will it

offer any opinion or judgment to you on matters concerning the value or suitability of any asset or proposed investment

for your Account. Mainstar is not responsible for losses you may incur as a result of the timing of any transfer among

investments or from another trustee or custodian that are due to circumstances reasonably beyond Mainstar’s control.

Mainstar will exercise the voting rights and other shareholder rights with respect to securities in your Account, but only

in accordance with the instructions you give to Mainstar. Mainstar has no responsibility for determining the amount of or

collecting contributions to your Account; determining the amount, character, or timing of any distribution from the Account;

or determining your maximum contribution amount.

Your representative may have suggested that you retain Mainstar’s services as custodian. In those circumstances, it is

important for you to understand that your representative represents you and does not act in a representative capacity or

as agent for Mainstar. Mainstar does not employ or compensate representatives for referrals. Any statements made by

your representative with respect to Mainstar’s operations or the relationship between Mainstar and you do not in any way

bind or obligate Mainstar. The relationship between Mainstar and you is specified in the agreements that Mainstar and

you sign when your Account is established, or as those agreements may later be modified by Mainstar.

Except to the extent, if any, required by applicable law, Mainstar has no duty or obligation to monitor or make you or your

Representative aware of the receipt or non-receipt of any documents or other confirmation of purchase or sale of any

asset or the receipt or non-receipt of any funds payable to your Account (e.g., dividends, interest, or other distributions)

or to provide any other information or documentation (other than pleadings, orders, or official notices arising from any

judicial proceeding) that it may receive or become aware of with respect to any assets. Mainstar has no duty to undertake

any action with respect to the collection or enforcement of any payments or rights relating to such assets (including,

without limitation, any participation in any bankruptcy proceedings, receivership proceedings, foreclosures, or other

litigation, or the perfection or enforcement of any lien or other rights with respect to such assets) without receiving prior

instruction from you, accompanied by such undertaking of indemnification as Mainstar may request to assure Mainstar

that it will be fully reimbursed and protected with respect thereto. Without limitation on the foregoing, Mainstar may

however, if it so elects, respond and participate in any such bankruptcy proceeding, receivership proceedings or other

litigation to which it or the Account may have been made a party, and in such case you will fully indemnify and protect

Mainstar against any action taken by it in good faith. Mainstar is entitled to seek the advice of legal counsel in connection

with any matter relating to your Account or any assets, and may in good faith rely and act upon such advice.

You agree to Indemnify Mainstar – You agree to indemnify and hold Mainstar harmless from and against any and all

claims (including tort or fraud), liabilities, causes of action, losses, and expenses (including, without limitation, any court

costs, attorney’s fees, and other expenses) asserted against or incurred by Mainstar as a result of, or in any way relating

to, any action requested or directed by you or your Representative.

Delegation of Investment Responsibility – Mainstar may, but is not required to, permit you to delegate your investment

responsibility for your Account to another person acceptable to Mainstar by giving written notice of your delegation in a

format Mainstar prescribes. If you wish to do so, please use Mainstar’s Trading Authorization Form.

No amendment to, or waiver of, any written agreement with Mainstar will be effective except pursuant to a written

agreement executed by Mainstar’s duly authorized representative.

Any controversy arising out of or relating to your account agreement or activity shall be settled by arbitration in Johnson

County, Kansas according to the rules of The American Arbitration Association.

FEE DISCLOSURE

Effective September 1, 2018

Set Up Fee

$25

per account set up

Annual Account Fee *

IRA – Traditional, Roth, SEP, SIMPLE

$110

per year

All others – Individual K, EBP, HSA, Taxable

$150

per year

Annual Special Asset Fee*

Public/Traded Security, Mutual Fund, Government Security

no charge

Non-traded REIT, non-traded Unit Trust, BDC

$24

annual fee, per holding

LP, LLC, Private Stock, Debenture

$36

annual fee, per holding

Private Promissory Note, Coin, Brokerage Account, Water Contract,

Liability & Other Miscellaneous Asset

$48

annual fee, per holding

Statement Fee

Electronic (available quarterly)

no charge

Annual Statement

per year

Quarterly Statement

$10

per year

Monthly Statement

$25

per year

Purchase/Sale/Transfer/Distribution-in-Kind/Maturity/Corporate Action

Public Asset

per transaction

Private Asset (Non-Note)

$25

per transaction

Private Promissory Note

$75

per transaction

Periodic Distributions

ACH

no charge

Check

$10

per check

Outgoing Cash Transfers (sent via check only)

Partial Cash Transfer

$15

per transfer

As part of Account Closing

$10

per closing

Closing Fee

Before 1

Anniversary

$250

per account

After 1

Anniversary

$150

per account

Other Fees

Recharacterization / Conversion - Assets

$50

per instance

Recharacterization / Conversion – Cash Only

$25

per instance

Excess Contribution Removal

$25

per instance

Overnight Delivery

$25

per package

Note Payment – Non-Serviced

$10

per principal payment

Bank Activity – Wire Transfer, Overdraft, Stop Pay, Return Check

$10

per item

Statement and Tax Form Reprints

$10

per item

990 T & K-1 Mailing

per mailing

Research/Special Services

$50

per hour + $25

reimbursement for mailing

* Account fees for accounts opened July 1, 2013 and after are incurred at time of set up and thereafter annually on the

anniversary of the set up date. Account fees for accounts opened prior to July 1, 2013 are incurred annually in July. Neither

account fees nor special asset fees are prorated. Special asset fees are incurred annually in July.

Invoices: Mainstar Trust will mail invoices quarterly only to accounts with fees due. Payment is due within thirty (30) days.

Other Service Fee Information: Please refer to the Section of your agreement entitled “Service Fees” for additional information

regarding fees.

Please Note: Unfunded accounts and accounts with zero value continue to incur fees until written instruction to close the

account is received and accepted by Mainstar Trust. However, Mainstar Trust may, in its sole discretion, close any account with

an account balance valued less than $250, in which case the account will incur the closing fee.

Rev 10-2018

Forward To: 214 West 9th Street

PO Box 420

Onaga, KS 66521

P) 800.521.9897

F) 913.901.4190

Distributions@mainstartrust.com

NEW ADDRESS

Accountholder Date

Phone Number Social Security Number Date of Birth

Address

Once Monthly Quarterly Annually

Direct Deposit Voided Check Attached

Information Already on File

Asset Description Quantity Distribute

Was the contribution made in a prior year?

In Kind

No (Use Code 8)

Yes (Complete the following to determine the appropriate code.)

No (Use ____Code 1 or ____ Code 7)

I instruct the Custodian to distribute from the above account:

1. The entire cash balance

2. $_________ (value of assets requested) or other

3. The minimum amount required for the tax year in which I attain age 70 1/2 and each year thereafter.

4. The entire account balance

1. I DO NOT want Federal Income Tax withheld from my Distribution.

Revised 8-2019

T. ROTH Distribution (attained 59 1/2 or DEATH)

*If Excess Contribution Removal was selected please answer the following

1 or S. SIMPLE Early Distribution

(under 59 1/2 IRS Penalty Exception)

Please Print or Type

WITHDRAWAL REQUEST

METHOD OF PAYMENT

DISTRIBUTION REASONS

WILL DISTRIBUTION CLOSE ACCOUNT?

Is contribution being removed prior to the tax return due date of the year for

which the contribution was made?

Yes No

Account Number

City / State / Zipcode

Cash Distribution(s) to be made beginning on

J. ROTH Early Distribution (under 59 1/2)

SIGNATURE REQUIRED

DISTRIBUTION AMOUNT

Yes (Use Code P)

1. IRA Early Distribution (under 59 1/2 IRS Penalty Applies)

(MM/DD/YYYY)

I understand that I am still liable for the payment of Federal Income Tax on the amount received. I also understand that I may be subject to Federal Income Tax

penalties under the estimated tax payment rules if my estimated tax payments and withholding are insufficient.

NOTE: If you elect to withhold federal income tax and are a resident of Kansas, you may voluntarily elect to have state income tax withheld at 5% or greater.

2. I WANT % or $ of Federal Income Tax (not less than 10% or equivalent dollars) withheld from my Distribution.

7. IRA and SIMPLE Normal Distribution (attained 59 1/2)

8. IRA Excess Contribution Removal*

SUBSTITUTE FORM W-4P WITHHOLDING CERTIFICATE FOR PENSION PAYMENTS

Accountholder's Signature

Checks and/or securities will be issued to you unless indicated.

I direct the Trustee or Custodian to make a distribution from the IRA for the

following reason:

IRS Regulations require the custodian to withhold at least 10% of distribution if left blank.

Has it been 2 years since initial funding? Yes No

2. IRA and SIMPLE Early Distribution - 72t payments

4. IRA and SIMPLE Death

5. IRA Prohibited Transaction

If left blank, request will be processed as prior to 2 years being satisfied

I certify that I am the proper party to receive payment(s) from this account and that all information provided by me is true and accurate. I further certify that

no tax advice has been given to me by the Custodian and that all decisions regarding this withdrawal are my own.

Clear Form

Revised 8-2018

I hereby authorize Mainstar Trust to electronically deposit money into the account referenced at the financial institution

named below. This authorization is to remain in effect until I notify Mainstar Trust in writing on a Direct Deposit

Authorization form of a cancellation or change. I understand it is my responsibility to verify that the money in the

correct amount is credited to my account and to notify Mainstar Trust of any discrepancies. In the event money is

deposited erroneously into my account, I authorize Mainstar Trust to debit my account not to exceed the amount of the

erroneous credit. I hereby agree to hold Mainstar Trust harmless from any error or omissions Mainstar Trust may

make in depositing or failing to deposit the requested amount to the designated account.

Account Information: Attach a voided check or a savings account deposit slip.

Please verify the ABA Routing Number with your financial institution for your account. These are the first nine (9)

digits on your check or deposit slip. The accountholder is responsible for the accuracy of the ABA Routing Number.

ATTACH SAVINGS DEPOSIT SLIP HERE

Accountholder Signature Date

Print Name Mainstar Trust Account Number

Forward To: 214 W. 9th Street

PO Box 420

Onaga, KS 66521-0420

P) 800.521.9897

F) 913.901.4190

Distributions@mainstartrust.com

Direct Deposit Authorization

Bank Name Bank Phone

ATTACH VOIDED CHECK HERE

ABA Routing Number

Account Number

123456789

Routing Number

1001001239

Account Number

SALE AUTHORIZATION

Forward To: 214 West 9

Street

PO Box 420

Onaga, KS 66521

P) 800.521.9897

F) 913.901.4190

Sales@mainstartrust.com

ACCOUNT DETAILS

Account Name:

Account Number:

PUBLICLY TRADED ASSET

(Stock, Bond, Government Security)

Asset Name:

Ticker:

Units/Shares to Sell:

CUSIP:

Net Dollar Value to Sell:

Sell at Market Price

Mainstar to facilitate with broker of its choice/proceeds of sale will be net of broker commissions

Limit Order Price Per Share: $

Order will not be executed unless the limit order price is met; Mainstar to facilitate with its broker of choice/proceeds of sale

will be net of broker commissions

Sell Already Executed by Rep/Broker Who Placed Trade:

If this box is selected, Mainstar Trust will not facilitate the trade

OTHER ASSET

(Annuity, Mutual Fund, Private Stock, LLC, LP, REIT, Etc.)

Asset Name:

Ticker:

Units/Shares to Sell:

CUSIP:

Net Dollar Value to Sell:

Special Instruction

 Describe below any documents or instruments to be furnished by Mainstar Trust on your behalf in order to effect the sales transaction described above (other than a bond,

stock certificate or other instrument evidencing the asset to be sold)

Direction of Sale

I, the undersigned, hereby acknowledge, agree and represent: (1) that it is my sole responsibility to direct the sale of account assets and that Mainstar

Trust, acting as custodian of the account, has no responsibility, discretion, or involvement in evaluating or selecting any assets for disposition, and no

liability for any loss or damage that may result from or be associated with the transaction requested her ein; (2) to indemnify and hold Mainstar Trust

harmless from and against any and all claims, liabilities, causes of action, losses and expenses (including, without limitation, any court costs,

attorney's fees and other expenses) asserted against or incurred by Mainstar Trust as a result of or in any way relating to any action I request or direct

(whether in this Sale Authorization or otherwise); (3) that other than maintaining custody, Mainstar Trust has no obligation to take any action with

respect to the assets sold pursuant to this Sale Authorization and that Mainstar Trust may condition any further action it may agree to undertake upon

its receipt from me, in form satisfactory to it, of written instruction to undertake such action, together with such further agreement or undertaking of

indemnification from me as Mainstar Trust may reasonably request; (4) that any action I request or direct (whether in this document or otherwise) is

subject to all terms and conditions of the Account Agreement as amended from time to time. (5) Any sales of multiple tax lots will be sold using the

First In First Out (FIFO) inventory relief method.

Applicable to an IRA: (1) that the determination of whether the transaction directed hereby is a prohibited transaction under Internal Revenue Code

(“IRC”) Section 4975 depends on the facts and circumstances surrounding this sale and further that Mainstar Trust makes no determination as to whether

a transaction is a prohibited transaction; (2) that I have consulted with such advisors as I deem necessary and appropriate and have determined that

this transaction is not a prohibited transaction and that the contra-party or any affiliate thereof is not a "disqualified person" as defined in IRC Section 4975

(e)(2); (3) that engaging in a prohibited transaction will result in a taxable distribution equal to the fair market value of my account and may incur certain

penalties and further that if such a deemed distribution takes place prior to my attaining age 59 1/2, an additional 10% premature distribution penalty may

be imposed by the IRS; and (4) that Mainstar Trust, in order to protect its interests and in its sole discretion, may require me to obtain an opinion of

counsel satisfactory to Mainstar Trust that this transaction does not constitute a prohibited transaction.

SIGNATURE

Signature of Accountholder,

Trustee or Authorized

Account Representative:

Date:

11/2019

Please Print or Type

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