Inherited IRA Application for Individual Beneficiaries Information and Instructions

Transcription

1 Inherited IRA Application for Individual Beneficiaries Information and Instructions (inside the U.S.) (outside the U.S.) (multilingual services) Information Please read the Schwab Inherited Retirement Account Guide for more information about beneficiary options or visit schwab.com/inheritedguide. Use this application to open an Inherited IRA Account. Complete, sign and return the application to Schwab along with the required documents outlined below. Inherited IRAs are subject to Required Minimum Distributions (RMDs), and the IRS requires account holders to be responsible for their beneficiary RMD calculations and due dates. You can learn more at schwab.com/inheritedirarules. If you elect to receive a lump-sum distribution in Section 8 of this form, Schwab requires you to first open an Inherited IRA in your name for reporting purposes. Your distribution will be processed and reported to the IRS after the assets have been transferred to your Inherited IRA. Please note that sales of existing positions will not be completed until the new account has been opened. Since the prices of securities may fluctuate, the value of the existing positions may rise or fall between the time this application is completed and the time the existing positions are sold. You agree that Schwab is not responsible for any changes in the value of the inherited securities. Please contact us at if you need to sell your securities. Each beneficiary must complete a separate application. Do not complete this form if the beneficiary is a Trust, an estate, a charity, or another entity. Instead, complete the Inherited IRA Account Application Form for Trust, Estate, and Organization Beneficiaries. Required Documents Attach the following required documents based on your relationship to the decedent: Spouse Beneficiary and Non-Spouse Individuals: Provide a copy of the account holder s death certificate. Minor Beneficiary: Provide a copy of the account holder s death certificate and a Birth Certificate or Letters of Guardianship. Nonresident Alien: If you are a non-resident alien without a Social Security number, you will need to complete and send IRS Form W-8BEN and a certified copy of your passport to Schwab with this form. You will also need to obtain an Individual Taxpayer Identification Number (ITIN) from the IRS before you can complete Form W-8BEN and submit this application. To obtain an ITIN, you will need to complete IRS Form W-7 and send it to the IRS. Please contact the IRS for a copy of the W-7 and W-8BEN forms or visit the IRS website at For additional questions about opening a Schwab Inherited IRA, call to speak with a Schwab Estate Distribution Representative Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC ( DS) APP (01/18) TC

2 Inherited IRA Application for Individual Beneficiaries Page 1 of 7 1. Original Account Holder Information (Decedent) Name (First) (Middle) (Last) Social Security/Tax ID Number Account Number Date of Birth (mm/dd/yyyy) Date of Death (mm/dd/yyyy) Type of Account Decedent Held (select one): Traditional IRA (includes Rollover, SEP, SIMPLE and Inherited Traditional IRA) If the decedent did not satisfy their RMD, check the box below to have Schwab calculate and distribute the RMD. Please calculate and distribute the RMD. (Provide distribution instructions in Section 8.) Roth IRA (includes Inherited Roth IRA) Qualified plan* (e.g., profit sharing, money purchase, 401(k), Individual 401(k), 403(b) and 457 plans) Qualified plan* (Roth elective deferrals only, e.g., Roth 401(k)) *If you are uncertain of the type of qualified plan that the decedent held, please contact the plan administrator for further clarification. 2. Account Instructions A. Spousal Transfer to an Existing IRA (spouse beneficiaries only) Transfer the assets to my existing Schwab IRA. (Enter the existing Schwab IRA account number below and sign in Section 10.) Existing Schwab IRA Account Number (must be the same type of IRA the decedent held) B. Spousal Transfer to a New IRA (spouse beneficiaries only) Transfer the assets to a new Schwab IRA. C. Inherited IRA (spouse and non-spouse beneficiaries) Transfer the IRA funds to a Schwab Inherited IRA. D. Transfer Funds From Another Financial Institution Transfer the assets from an existing Inherited IRA at another financial institution. (Attach a Transfer Your Account to Schwab form.) E. Change the Custodian on an existing minor inherited IRA Change Custodian on Schwab account number. Reason for change: Death of Custodian (Provide a certified copy of the death certificate with this form.) Incapacity of Custodian (Provide a letter from a licensed physician attesting to the incapacity of the Custodian.) Resignation of Custodian (Resigning Custodian must sign in Section 11.) 2018 Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC ( DS) APP (01/18) TC *APP =01*

3 3. Account Holder Information Page 2 of 7 Please complete all sections below. We respect your privacy. Schwab will use the information you provide to open and service your accounts, communicate with you, and provide information about products and services. Read about Schwab s privacy policy at As required by federal law, Schwab will use the information you provide below to verify your identity. Relationship to Decedent (beneficiary type) Spouse Non-Spouse Individual Non-Spouse Minor Individual (Please complete the Custodian Information section.) Name (First) (Middle) (Last) Home/Legal Street Address (no P.O. boxes) City State Zip Code Mailing Address (if different from above; P.O. boxes may be used) City State Zip Code Home Telephone Number Business Telephone Number Cellular Telephone Number Address* (Required to access your account through the web.) Social Security/Tax ID Number Date of Birth (mm/dd/yyyy) Mother s Maiden Name Are you known by any other name? Specify: ID Number Driver s License State Passport Country(ies) of Citizenship (Must list all.) Country of Legal Residence State/Country of Issuance Expiration Date USA Other: Other: USA Other: Securities industry regulations require that we collect the following information. Employment Status (Select only one.) Employer Name/Business Name Employed Self-Employed Retired Homemaker Student Not Employed Occupation (If you selected Employed or Self-Employed, select one option that best describes your occupation.) Business Owner/Self-Employed Financial Services/Banking Professional Military Consultant Executive/Senior Management Information Technology Professional Educator Other (Specify): Medical Professional Other Professional Clerical/Administrative Services Legal Professional U.S. Government Employee (Federal/State/Local) Trade/Service (Labor/Manufacturing/Production) Accounting Professional Foreign Government Employee (Non-U.S.) Sales/Marketing Business Street Address City State Zip Code Are you affiliated with or employed by a stock exchange or member firm of an exchange or FINRA, or a municipal securities broker-dealer? No Yes (If yes, you must attach a letter from your employer approving the establishment of your account when submitting this application.) Are you a director, 10% shareholder or policy-making officer of a publicly held company? No Yes (If yes, enter company name and trading symbol.) Marital Status Number of Dependents Single Married Divorced Widowed Investment Experience: None Limited Good Extensive Annual Income: Under $15,000 $15,000 $24,999 $25,000 $49,999 $50,000 $99,999 $100,000 or More Liquid Net Worth: Under $25,000 $25,000 $49,999 $50,000 $99,999 $100,000 $249,999 $250,000 or More Specify: Custodian Information (Please complete if you checked the Non-Spouse Minor Individual box above.) Please note that the Inherited IRA must be transferred to the minor inheritor when the minor reaches age 18. Schwab may restrict the Custodian s access to the account and register the assets in the inheritor s name when the minor inheritor reaches age 18. Name (First) (Middle) (Last) Home Legal Street Address (no P.O. boxes) City State Zip Code Mailing Address (if different from above; P.O. boxes may be used) City State Zip Code Home Telephone Number Business Telephone Number Cellular Telephone Number Address* (Required to access your account through the web.) *By providing your address, you consent to receiving from Schwab. Information about opting out of certain communications is provided at Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC ( DS) APP (01/18) TC *APP =02*

4 Page 3 of 7 3. Account Holder Information (Continued) Custodian Information (Continued) Social Security/Tax ID Number Date of Birth (mm/dd/yyyy) Mother s Maiden Name Are you known by any other name? Specify: ID Number Driver s License State Passport Country(ies) of Citizenship (Must list all.) Country of Legal Residence State/Country of Issuance Expiration Date USA Other: --- Other: --- USA Other: Securities industry regulations require that we collect the following information for the Custodian. Employment Status (Select only one.) Employer Name/Business Name Employed Self-Employed Retired Homemaker Student Not Employed Occupation (If you selected Employed or Self-Employed, select one option that best describes your occupation.) Business Owner/Self-Employed Financial Services/Banking Professional Military Consultant Executive/Senior Management Information Technology Professional Educator Other (Specify): Medical Professional Other Professional Clerical/Administrative Services Legal Professional U.S. Government Employee (Federal/State/Local) Trade/Service (Labor/Manufacturing/Production) Accounting Professional Foreign Government Employee (Non-U.S.) Sales/Marketing Business Street Address City State Zip Code Are you affiliated with or employed by a stock exchange or member firm of an exchange or FINRA, or a municipal securities broker-dealer? No Yes (If yes, you must attach a letter from your employer approving the establishment of your account when submitting this application.) Are you a director, 10% shareholder or policy-making officer of a publicly held company? No Yes (If yes, enter company name and trading symbol.) Marital Status Number of Dependents Single Married Divorced Widowed Investment Experience: None Limited Good Extensive Annual Income: Under $15,000 $15,000 $24,999 $25,000 $49,999 $50,000 $99,999 $100,000 or More Liquid Net Worth: Under $25,000 $25,000 $49,999 $50,000 $99,999 $100,000 $249,999 $250,000 or More Specify: 4. Overall Investment Objective of Account (Select one only.) Capital Preservation Income Growth Speculation 5. Your Consent to Enroll in Schwab s Cash Features Program The Cash Features Program is a service that offers the Bank Sweep feature (a Cash Feature ) to permit your uninvested cash (the Free Credit Balance ) to earn income while you decide how those funds should be invested longer term. You understand that additional information about the Cash Features Program and each Cash Feature is available in the Cash Features Disclosure Statement. By signing this Application, you consent to having the Free Credit Balance in your brokerage account included in the Cash Features Program, as described in the Cash Features Disclosure Statement. The Bank Sweep feature is designated as the Cash Feature for brokerage accounts of account holders residing in the U.S. Through the Bank Sweep feature, Schwab automatically makes deposits to and withdrawals from deposit accounts at one or more banks affiliated with Schwab ( Sweep Banks ). Your deposits at each Sweep Bank are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 (including principal and accrued interest) when aggregated with all other deposits held by you in the same insurable capacity at that bank. Your funds may be placed in a Sweep Bank in excess of the FDIC insurance limit. In certain limited circumstances, Schwab may place your funds in a sweep money market fund. Please see the Cash Features Disclosure Statement for additional information. You understand and agree that Schwab may (1) make changes to the terms and conditions of the Cash Features Program; (2) make changes to the terms and conditions of any Cash Feature; (3) change, add, or discontinue any Cash Feature; (4) change your investment from one Cash Feature to another if you become ineligible for your current Cash Feature or your current Cash Feature is discontinued; and (5) make any other changes to the Cash Features Program or Cash Feature as allowed by law. Schwab will notify you in writing of changes to the terms of the Cash Features, changes to the Cash Features we make available, or changes to the Cash Features Program prior to the effective date of the proposed change. FOR CHARLES SCHWAB USE ONLY: Branch Office and Customer Source Code Account Number ID Number Approved By Print Name of Approver Date 2018 Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC ( DS) APP (01/18) TC *APP =03*

5 6. Paperless Document Enrollment Page 4 of 7 The Account Holder or Custodian, as applicable, will receive account statements, trade confirmations, shareholder materials, account agreements and related disclosures, and other regulatory documents, if available in paperless form, by . For certain documents, including account statements, you will receive an notification with a link to log on to our secure website to access your documents. For complete information, please see Important Information About Your Informed Consent to Receive Paperless Documents in the Appendix to this application. To opt for Paperless Documents, simply provide your address in Section 3. The completion of your enrollment will depend on one of the following scenarios. Scenario 1: If you are the Account Holder or Custodian, as applicable, and already have an account enrolled in Paperless Documents using the address provided in Section 3, have logged on to Schwab.com in the past six months, and agree to the following, your paperless enrollment will be complete once your account is opened. Unless you opt out of Paperless Documents, you acknowledge the following. I have read and understood the Important Information About Your Informed Consent to Receive Paperless Documents in the Appendix to this application and consent to enrolling this account in Paperless Documents. I understand that I will receive an with my new account agreement and related disclosures. Or Scenario 2: If you are the Account Holder or Custodian, as applicable, and do not have an existing account enrolled in Paperless Documents, are using a different address, or have not logged on to Schwab.com in the past six months, we will send you an after the account is opened. To complete enrollment, you will need to click the I Consent button in that and/or follow the instructions to access Schwab.com. If you do not click the I Consent button, this account will not be enrolled in Paperless Documents, and we will send your account agreement and related disclosures, as well as future regulatory documents, by postal mail. If you are the Account Holder or Custodian, as applicable, and do not want to participate in Paperless Documents, please check the box below. No, do not enroll my account in Paperless Documents. Please send my regulatory documents via postal mail. 7. Tax Withholding Election You can choose to withdraw money from the account each year, or you may elect to withdraw the entire balance of the account immediately by selecting Lump-Sum Distribution in Section 8. Enter your tax withholding election for future distributions from this account, including a lump-sum distribution or the decedent s RMD. Tax Withholding Election Distributions from your IRA (excluding those from Roth IRAs) are generally subject to federal (and possibly state) income tax. Even if you elect in writing not to have federal and/or state income tax withheld, you are liable for payment of federal and state income taxes, if applicable, on the taxable portion of your distribution. You may also be subject to tax penalties under the estimated tax payment rules if your withholding and payment of estimated tax, if any, are not adequate. For more information, see IRS Publication 590B. U.S citizens who are foreign residents are subject to a 10% minimum withholding rate. Non-resident aliens are subject to either the minimum tax treaty rate or a 30% tax withholding rate and must submit a valid IRS Form W-8BEN. A. Federal Income Tax Withholding You may elect not to have withholding apply, or you may elect to increase the rate of withholding. If you do not make an election, Schwab is required to withhold 10% for payment of federal income tax from your gross distribution. Choose one: I do not want federal income tax withheld. I want federal income tax withheld at the rate of % (must be a whole number and at least 10%). B. State Income Tax Withholding State income tax withholding from your distribution may be required. In some cases, you may elect not to have withholding apply, or you may elect to increase the rate of withholding. In other cases, state income tax withholding is not available. Refer to the State Income Tax Withholding information sheet for specific information concerning your state. If you do not make an election, Schwab will apply withholding (if required) at the minimum rate based on the laws for your state of residency as determined by the legal address of record on your account. While Schwab makes every effort to obtain information about state tax laws from sources believed to be reliable, Schwab cannot guarantee the accuracy or timeliness of state tax withholding information because state tax laws are subject to constant change and interpretation. We recommend that you contact your tax advisor regarding your tax withholding elections and to answer any questions that you may have regarding your state s withholding laws. Choose one: I do not want state income tax withheld. I want state income tax withheld at the rate of % (must be at least your state s minimum tax rate) Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC ( DS) APP (01/18) TC *APP =04*

6 Page 5 of 7 8. Distribution Instructions (Select one, if applicable.) A. Lump-Sum Distribution Take a lump-sum distribution from my Schwab Inherited IRA and close my account (choose one): Transfer to my existing Schwab Account. Existing Schwab Non-Retirement Account Number Sell my share of the assets in my new IRA account and send me a check. B. Decedent s Required Minimum Distribution (If the decedent did not satisfy their RMD, please complete this section.) Distribute my share of the decedent s RMD from my Schwab Inherited IRA (choose one): Transfer my share of the RMD amount to my existing Schwab non-retirement account. Existing Schwab Non-Retirement Account Number Sell my share of the RMD amount from my new IRA account and send me a check. List each security and the number of shares or dollar value you would like transferred or sold to satisfy the RMD amount. (Additional securities should be listed on a separate sheet of paper.) Name of Security #1: Number of shares: Dollar value: $ Name of Security #3: Number of shares: Dollar value: $ Name of Security #2: Number of shares: Dollar value: $ Name of Security #4: Number of shares: Dollar value: $ Note: Sales of existing positions will not be completed until the new account has been opened. Since the prices of securities may fluctuate, the value of the existing positions may rise or fall between the time this application is completed and the time the existing positions are sold. You agree that Schwab is not responsible for any changes in the value of the inherited securities. Please contact us at if you need to sell your securities. 9. Designate Your Beneficiary(ies) In the event of my death, pay the full value of my Account (in equal proportions in the case of multiple beneficiaries unless I indicate otherwise) to the Primary Beneficiary(ies) as designated below. I understand that if a Primary Beneficiary predeceases me, the remaining portion will be divided proportionately to any surviving Primary Beneficiaries in the manner provided in the Charles Schwab & Co., Inc. Individual Retirement Plan. If no Primary Beneficiary survives me, pay the full value of my Account (in equal proportions in the case of multiple beneficiaries unless I indicate otherwise) to the Contingent Beneficiary(ies) as designated below. I understand that if a Contingent Beneficiary predeceases me, the remaining portion will be divided proportionately to any surviving Contingent Beneficiaries in the manner provided in the Charles Schwab & Co., Inc. Individual Retirement Plan. I understand that I may change or revoke this designation at any time during my lifetime by completing a new IRA Beneficiary Form with Schwab. It will become effective when Schwab receives it. If I live in a state with community property statutes and do not designate my spouse as the sole beneficiary, I represent and warrant that my spouse has consented to such designation. If this is an Inherited IRA for a minor, I understand that only the minor s estate can be the beneficiary until such time as the minor becomes the owner of the Inherited IRA and designates his or her own beneficiaries. I understand that if Schwab determines that my beneficiary designation is not clear with respect to the amount of the distribution, the date on which the distribution shall be made, or the identity of the party or parties who will receive the distribution, Schwab will have the right, in its sole discretion, to consult counsel and to institute legal proceedings to determine the proper distribution of the account, all at the expense of the account, before distributing or transferring the account. Note: If you wish to indicate per stirpes distribution for the beneficiary(ies) of your new IRA account, do not complete Section 9. Instead, complete the Schwab IRA Beneficiary Designation Form and submit it with this application. Visit Schwab.com and review the form for additional information Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC ( DS) APP (01/18) TC *APP =05*

7 9. Designate Your Beneficiary(ies) (Continued) Page 6 of 7 Please note: Primary Beneficiary(ies) share percentage must add up to 100%. Contingent Beneficiary(ies) share percentage must add up to 100%. If you wish to designate more than four beneficiaries, attach a separate sheet of paper and include all the information as requested below. If you fail to indicate a percentage of benefits, Schwab will divide benefits equally among the beneficiaries you designate. Note: Benefits cannot be expressed in dollar amounts. If a trust is designated as a beneficiary, the date of the trust must be provided. I hereby designate the individual(s) or entity(ies) below as my beneficiary(ies): Type of Beneficiary Share % Relationship Social Security/Tax ID Number Primary Contingent Name (if individual, include First, Middle, Last) Spouse Non-Spouse Individual Trust Estate Charity or Other Entity Date of Birth/Trust (mm/dd/yyyy) Home/Legal Street Address (no P.O. boxes) City State Zip Code Home Telephone Number Business Telephone Number Cellular Telephone Number Address Country(ies) of Citizenship (Must list all.) Country of Legal Residence USA Other: Other: USA Other: Type of Beneficiary Share % Relationship Social Security/Tax ID Number Primary Contingent Name (if individual, include First, Middle, Last) Spouse Non-Spouse Individual Trust Estate Charity or Other Entity Date of Birth/Trust (mm/dd/yyyy) Home/Legal Street Address (no P.O. boxes) City State Zip Code Home Telephone Number Business Telephone Number Cellular Telephone Number Address Country(ies) of Citizenship (Must list all.) Country of Legal Residence USA Other: Other: USA Other: Type of Beneficiary Share % Relationship Social Security/Tax ID Number Primary Contingent Name (if individual, include First, Middle, Last) Spouse Non-Spouse Individual Trust Estate Charity or Other Entity Date of Birth/Trust (mm/dd/yyyy) Home/Legal Street Address (no P.O. boxes) City State Zip Code Home Telephone Number Business Telephone Number Cellular Telephone Number Address Country(ies) of Citizenship (Must list all.) Country of Legal Residence USA Other: Other: USA Other: Type of Beneficiary Share % Relationship Social Security/Tax ID Number Primary Contingent Name (if individual, include First, Middle, Last) Spouse Non-Spouse Individual Trust Estate Charity or Other Entity Date of Birth/Trust (mm/dd/yyyy) Home/Legal Street Address (no P.O. boxes) City State Zip Code Home Telephone Number Business Telephone Number Cellular Telephone Number Address Country(ies) of Citizenship (Must list all.) Country of Legal Residence USA Other: Other: USA Other: Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC ( DS) APP (01/18) TC *APP =06*

8 10. Authorization to Open Account If you are a spouse beneficiary and you selected option A in Section 2, by signing this application you hereby authorize the transfer of cash and/or investments in the manner stated on this form. If you selected option B, C, D or E in Section 2, by signing this application you hereby authorize the transfer of cash and/or investments in the manner stated on this form as applicable and adopt the applicable Individual Retirement Plan that names Charles Schwab & Co., Inc. as custodian of this Account, as further explained in the Charles Schwab & Co., Inc. Individual Retirement Plan. You acknowledge that you have received and read the attached Application Agreement, which contains a predispute arbitration provision. You acknowledge that your signature signifies and constitutes your agreement that this Account and your relationship with Schwab will be governed by the Application Agreement and all incorporated agreements and disclosures, including, but not limited to, the applicable Individual Retirement Plan and Disclosure Statement, the Schwab IRA and ESA Account Agreement and the Charles Schwab Pricing Guide, each as amended from time to time (the Agreement and Disclosures ). You understand there are fees associated with establishing, maintaining, engaging in transactions and transferring assets out of this Account. This Account is established and effective when you receive your account number. You have the right to cancel the account within seven days from the date the Account is established. The revocation will be reported to the IRS as a distribution. You also acknowledge that, while bank deposit products available through Schwab such as certificates of deposit offered on Schwab Page 7 of 7 CD OneSource and deposit products offered by Charles Schwab Bank are insured by the Federal Deposit Insurance Corporation ( FDIC ) to the maximum extent provided by law, the securities products purchased or sold in a transaction with Schwab (i) are not insured by the FDIC; (ii) are not deposits or other obligations of Schwab and are not guaranteed by Schwab Bank; and (iii) are subject to investment risks, including possible loss of the principal invested. For purposes of this Account Application and the attached Application Agreement, the terms you, your and Account Holder refer to each person who signs this Account Application, and apply with respect to both a person s individual capacity as well as any applicable representative or fiduciary capacity. The terms we, us, our and Schwab refer to Charles Schwab & Co., Inc. You certify under penalty of perjury that (1) the number shown on this application is your correct taxpayer number; (2) you are not subject to back-up withholding because (a) you are exempt from back-up withholding, or (b) you have not been notified by the IRS that you are subject to back-up withholding as a result of a failure to report all interest and dividends, or (c) the IRS has notified you that you are no longer subject to back-up withholding; (3) you are a U.S. person (including a U.S. resident alien); and (4) you are exempt from Foreign Account Tax Compliance Act (FATCA) reporting. (You understand that if you have been notified by the IRS that you are subject to back-up withholding as a result of dividend or interest underreporting and you have not received a notice from the IRS advising you that back-up withholding is terminated, you must strike or cross out the information contained in item 2 above.) The IRS does not require your consent to any provision of this document other than the certifications required to avoid back-up withholding. The Agreement with Schwab includes a predispute arbitration clause. You acknowledge receipt of the predispute arbitration clause contained in Section 10, page 2, of the Application Agreement. Signature X and Date Required Account Holder/Custodian Signature Print Name Date 11. Signature of Resigning Custodian and Witness (Required if existing custodian is resigning.) The witness may NOT be the individual designated as the new custodian and must be at least 18 years of age. Signature X and Date Required Signature of Resigning Custodian Print Name Date X Witness Signature Print Name Date 2018 Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC ( DS) APP (01/18) TC *APP =07*

9 Add a Trusted Contact Person Page 1 of 2 Schwab.com (inside the U.S.) (outside the U.S.) (multilingual services) We re here to help. 1 Use this form to add up to two Trusted Contacts for your Schwab accounts. You may also update your Trusted Contact information by visiting Schwab.com or calling Adding a Trusted Contact provides Schwab with a resource to contact on your behalf, if necessary. A Trusted Contact is a person whom you are permitting Schwab to contact and disclose information to about your account to address possible financial exploitation; to confirm your contact information, health status, or the identity of any legal guardian, executor, trustee, or holder of a power of attorney; or as otherwise permitted by applicable rules. Trusted Contact Designation Naming a Trusted Contact is optional. The Trusted Contact(s) must be at least 18 years old. The Trusted Contact(s) will not be able to view your account information, execute transactions, or inquire about account activity. Schwab suggests that your Trusted Contact(s) not be someone who is already authorized to transact business on your account(s) or already able to receive information about your Schwab account(s) e.g., financial consultant, investment advisor, or by virtue of Power of Attorney or View Only authority. You do not need to designate a separate Trusted Contact for each Schwab account. A single designation covers all Schwab accounts over which you are the account holder or joint account holder, trustee, or agent. For accounts with multiple account holders, trustees, or agents, please fill out a separate Trusted Contact form for each account holder, trustee, or agent. Only you as the account holder have the ability to add, update, or remove a Trusted Contact(s) for your account(s). Account Holder Information The Trusted Contact designation(s) only applies to the Account Holder/Trustee/Agent named below. Social Security Number Name Title, First Middle Name Last, Suffix 2 Trusted Contact Person(s) Trusted Contact information provided on this form will replace all Trusted Contact information currently on file. Person 1 Name Title, First Middle Name Last, Suffix Relationship Please select only one. Spouse Partner Child Parent Sibling Friend Other Please provide at least one method of contact for each Trusted Contact listed. Home/Legal Street Address No P.O. Boxes Country State or Province Postal or Zip Code City Home Phone Number Mobile Phone Number Address Person 2 Name Title, First Middle Name Last, Suffix 2018 Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC (0118-7KJ8) APP (01/18) *APP =01*

10 2. Trusted Contact Person(s) (Continued) Page 2 of 2 Relationship Please select only one. Spouse Partner Child Parent Sibling Friend Other Please provide at least one method of contact for each Trusted Contact listed. Home/Legal Street Address No P.O. Boxes Country State or Province Postal or Zip Code City Home Phone Number Mobile Phone Number Address 3 Account Holder/Trustee/Agent Authorization Agreement and Signature I understand that there is no requirement that Schwab reach out to my Trusted Contact Person and that I may withdraw this Authorization at any time by notifying Schwab via phone or in writing at the address shown on my account statement. By signing below, I and my heirs agree to indemnify and hold Schwab, its predecessors, successors, officers, directors, employees, agents, representatives, parents, affiliates, assigns, and attorneys harmless from and against any and all claims, judgments, taxes, fines, penalties, damages, liabilities, costs, and expenses (including but not limited to attorneys fees and expert witness fees) incurred by Schwab as a result of any claim, judgment, or proceeding arising out of or relating to Schwab contacting, or failing to contact, my Trusted Contact Person(s) identified in this form. By my signature below, I authorize Schwab and its affiliates to share my nonpublic personal information held at Schwab with the named Trusted Contact Person(s) identified above. Nonpublic personal information includes, but is not limited to, financial account information and balances, recommendation for purchase of a security or insurance product, and, as defined in Title V of the federal Financial Services Modernization Act of 1999 as amended, or as defined by any other federal or state law, personally identifiable financial information (i) provided by a consumer to a financial institution; (ii) resulting from any transaction with the consumer or any service performed for the consumer; or (iii) otherwise obtained by the financial institution. I understand that Schwab or my advisor may contact the Trusted Contact Person(s) and disclose information about my account to address possible financial exploitation; to confirm the specifics of my current contact information or health status or the identity of any legal guardian, executor, trustee, or holder of a power of attorney; or as otherwise permitted by FINRA rules. I understand that if an investment advisor is linked to my account(s), then my Trusted Contact Person(s) information will be made available to the investment advisor, and Schwab may notify the investment advisor of Schwab s interactions with the Trusted Contact Person(s). I agree that Schwab will not be responsible for, and cannot monitor, the investment advisor s use of the Trusted Contact Person(s) information. SIGN HERE Please sign and date using blue or black ink. Account Holder Signature Print Name Title, First Middle Name Last, Suffix Today s Date (mm/dd/yyyy) 4 Return Instructions Upload online with secure messaging (if you are an existing client and have online access to your account). 1. Go to Schwab.com and log in to your account. 2. Click the Message Center link (under Service), and then click the Compose New Message link. 3. Upload your form as an attachment by clicking the Add File button. 4. When your message is complete, click Send. Fax to Bring to your nearest Schwab branch (visit Schwab.com/branch for locations). Mail to any of the following addresses: Regular Mail (West) Charles Schwab & Co., Inc. P.O. Box El Paso, TX Regular Mail (East) Charles Schwab & Co., Inc. P.O. Box Orlando, FL Overnight Mail (West) Charles Schwab & Co., Inc Northwestern Dr. El Paso, TX Overnight Mail (East) Charles Schwab & Co., Inc Summit Park Dr., Ste. 200 Orlando, FL Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC (0118-7KJ8) APP (01/18) *APP =02*

11 Inherited IRA Application Agreement Page 1 of 2 This agreement relates to your account and is part of the Account Agreement between each account holder and Charles Schwab & Co., Inc. ( Schwab ). Please read and retain for your records. Section 1: Scope of Agreement. Your agreement Section 4: Account Handling. Schwab will manner of liquidation, or for any tax conse- with Schwab consists of the terms set automatically hold all of your securities purquences from such actions pursuant to this forth in this Application Agreement and the chased, sales proceeds, dividends and interest. direction. This serves as your direction and terms set forth in the applicable Individual Schwab will also release your name, address and authorization to us, without any additional notice Retirement Plan and Disclosure Statement, and securities positions to companies in which we to you. No demand or notice shall impose on the Schwab IRA and ESA Account Agreement, hold securities for your Account upon request, Schwab any obligation to make such demand or which incorporates the Charles Schwab Pricing unless you notify us otherwise in writing. provide such notice to you in the future. Any Guide and a number of other important Section 5: Responsibility for Investment such notice or demand is hereby expressly disclosures. The applicable Individual Retirement Decisions. You agree that you and any agent waived, and no specific demand or notice shall Plan and Disclosure Statement and the Schwab under a power of attorney or Investment Advisor invalidate this waiver. IRA and ESA Account Agreement are provided (if you have one) are solely responsible for Section 8: Verification. You authorize Schwab with this application or at the opening of your investment decisions in your Account, including to inquire from any source, including a consumer Account. You agree to contact Schwab if you do whether to buy or sell a particular security. reporting agency, as to the identity (as required not receive the applicable Individual Retirement Unless required by law, or unless Schwab by law), creditworthiness and ongoing eligibility Plan and Disclosure Statement and the Schwab provides advice to you that is clearly identified for the Account of the Account Holders, any IRA and ESA Account Agreement. as an individualized recommendation for you, other person referred to on this application, or In addition, you may in the future receive from you understand that Schwab has no obligation any person who Schwab is later notified is Schwab supplemental terms or disclosures to determine whether a particular transaction, associated with or has an interest in the that pertain to certain account types, service strategy or purchase or sale of a security is Account (as well as such persons spouses if features and benefit packages. These supplemental suitable for you. Your obligation includes an they live in a community property jurisdiction) at terms and disclosures, this Application Agreement, affirmative duty to monitor and stay informed account opening, at any time throughout the life the applicable Individual Retirement Plan about your Account and your investments and of the Account, and thereafter for debt and Disclosure Statement, and the Schwab IRA respond to changes as you deem appropriate. collection or investigative purposes. and ESA Account Agreement are collectively Unless Schwab otherwise agrees with you in Section 9: Required Arbitration Disclosures. referred to as the Agreement and Disclosures. writing, Schwab does not have any discretionary Regulatory authorities require that any brokerage You agree to read the Agreement and Disclosures authority or obligation to review or make recommendations for the investment of securities or agreement must disclose that this agreement agreement containing a predispute arbitration carefully and retain copies for your records. Section 2: Acceptance of Agreement and cash in your Account. contains a predispute arbitration clause. This Disclosures. You agree that the Agreement and You acknowledge that Schwab does not provide Agreement contains a predispute arbitration Disclosures govern all aspects of your relationship tax or legal advice. clause. By signing an arbitration agreement, the with Schwab, including all transactions between Section 6: Payment of Indebtedness. You agree parties agree as follows: Schwab and you and all products and services to make payment of any indebtedness related to All parties to this Agreement are giving up the now or in the future offered through Schwab. your Account, including, but not limited to, any right to sue each other in court, including the Schwab may rely on your use of Schwab s such indebtedness that results from instructions right to a trial by jury, except as provided by the products and services as evidence of your provided to Schwab by you, your agent or any rules of the arbitration forum in which a claim continued acceptance of the Agreement and attorney-in-fact under a power of attorney or is filed. Disclosures. Investment Advisor authorized to make transactions Arbitration awards are generally final and Section 3: Your Representations and in your Account. We may elect anytime, binding; a party s ability to have a court reverse Warranties. You represent and warrant that: with or without notice, to make any debit balance or modify an arbitration award is very limited. (a) you are of legal age in the state in which or other obligation related to your Account The ability of the parties to obtain documents, you live and you are authorized to enter into immediately due and payable. We may report any witness statements and other discovery is this Agreement; (b) you have supplied accurate past-due account to a consumer and/or generally more limited in arbitration than in information in your Account Application; (c) if securities credit reporting agency. We may also court proceedings. you are married, live in a state with community refer your Account to a collection agency. property laws and have designated someone The arbitrators do not have to explain the Section 7: Liquidations. Whenever it is other than your spouse as the sole beneficiary reason(s) for their award unless, in an eligible necessary for our protection to satisfy a debit in to this Account, you have obtained the consent case, a joint request for an explained decision your Account or obligation owed us with respect of your spouse to such designation; (d) no has been submitted by all parties to the panel to your Account (including the payment of any additional authorizations from third parties are at least 20 days prior to the first scheduled fees and expenses relating to your Account that required for you to open the Account and hearing date. are assessed from your Account), you authorize effect transactions therein; (e) except as you The panel of arbitrators will typically include and direct Schwab to sell, assign and deliver all have otherwise indicated on your Account a minority of arbitrators who were or are or any part of the property in your Account or Application or in writing to us, (i) you are not an affiliated with the securities industry. close any or all transactions in your Account or employee of or affiliated with any securities restrict activity in your Account as may be The rules of some arbitration forums may exchange or member firm of any exchange, the necessary from time to time to satisfy any such impose time limits for bringing a claim in Financial Industry Regulatory Authority (FINRA) debit or obligation. You further authorize and arbitration. In some cases, a claim that is or any securities firm, bank, trust company, or direct us to choose which property to buy or sell, ineligible for arbitration may be brought insurance company; and (ii) you are not a which transactions to close, and the sequence in court. director, 10% beneficial shareholder, policymaking officer, or otherwise an affiliate (as actions on whatever exchange or market and in claim is filed, and any amendments thereto, and timing of liquidation. We may take such The rules of the arbitration forum in which the defined in Rule 144 under the Securities Act whatever manner (including public auction or shall be incorporated into this Agreement. of 1933) of a publicly traded company; and private sale) that we choose in the exercise of No person shall bring a putative or certified (f) this Application Agreement, as amended our business judgment pursuant to this class action to arbitration, nor seek to enforce from time to time, is a legal, valid and binding direction. You agree not to hold us liable for the any predispute arbitration agreement against obligation, enforceable against you in accordance with its terms. transactions to close, or for the timing or class action; or who is a member of a putative choice of which property to buy or sell or which any person who has initiated in court a putative 2018 Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC ( DS) APP (01/18) TC

12 class who has not opted out of the class with respect to any claims encompassed by the putative class action until: 1. the class certification is denied; 2. the class is decertified; or 3. the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein. Section 10: Arbitration Agreement. Any controversy or claim arising out of or relating to (i) this Agreement, any other agreement with Schwab, an instruction or authorization provided to Schwab or the breach of any such agreements, instructions, or authorizations; (ii) the Account, any other Schwab account or Services; (iii) transactions in the Account or any other Schwab account; (iv) or in any way arising from the relationship with Schwab, its parent, subsidiaries, affiliates, officers, directors, employees, agents or service providers ( Related Third Parties ), including any controversy over the arbitrability of a dispute, will be settled by arbitration. This arbitration agreement will be binding upon and inure to the benefit of the parties hereto and their respective representatives, attorneysin-fact, heirs, successors, assigns and any other persons having or claiming to have a legal or beneficial interest in the Account, including court-appointed trustees and receivers. This arbitration agreement will also inure to the benefit of third-party service providers that assist Schwab in providing Services ( Third-Party Service Providers ) and such Third-Party Service Providers are deemed to be third-party beneficiaries of this arbitration agreement. The parties agree that this arbitration agreement will apply even if the application to open the Account is denied and will survive the closure of your Account and/or the termination of services rendered under this Agreement. Such arbitration will be conducted by, and according to the securities arbitration rules and regulations then in effect of, the Financial Industry Regulatory Authority (FINRA) or any national securities exchange that provides a forum for the arbitration of disputes, provided that Schwab is a member of such national securities exchange at the time the arbitration is initiated. Any party may initiate arbitration by filing a written claim with FINRA or such eligible national securities exchange. If arbitration before FINRA or an eligible national securities exchange is unavailable or impossible for any reason, then such arbitration will be conducted by, and according to the rules and regulations then in effect of, the American Arbitration Association (AAA). If arbitration before the AAA is unavailable or impossible for any reason, the parties agree to have a court of competent jurisdiction appoint three (3) arbitrators to resolve any and all disputes or controversies between or among the parties. Each party shall bear its own initial arbitration costs, which are determined by the rules and regulations of the arbitration forum. In the event of financial hardship, the arbitration forum may waive certain costs in accordance with such rules. At the conclusion of the hearing, the arbitrators will decide how to assess the costs of the arbitration among the parties. Any award the arbitrator makes shall be final and binding, and judgment on it may be entered in any court having jurisdiction. This arbitration agreement shall be enforced and interpreted exclusively in accordance with applicable federal laws of the United States, including the Federal Arbitration Act. Any costs, fees or taxes involved in enforcing the award shall be fully assessed against and paid by the party resisting enforcement of said award. For FINRA arbitrations, FINRA will appoint a single public arbitrator in customer cases decided by one arbitrator. In customer cases decided by three arbitrators, investors have the option of choosing an arbitration panel with two public arbitrators and one non-public arbitrator (Majority-Public Panel Rule) or a panel of all public arbitrators (Optional All-Public Panel Rule). If the customer declines to elect a panel selection method in writing by the applicable deadline, the Majority-Public Panel Rule for selecting arbitrators will apply. All notices from one party to the other involving arbitration shall be considered to have been fully given when so served, mailed by first-class, certified or registered mail, or otherwise given by other commercially accepted medium of written notification. In addition to the above provisions, if a party to this Agreement is or becomes a non-u.s. resident at the time of any controversy subject to this arbitration agreement, such party acknowledges and agrees to the following additional provisions: (1) The rules of the organization administering the arbitration specifically provide for the formal designation of the place at which the arbitration is to be held. (2) Entering into this Agreement constitutes consent to submit to the personal jurisdiction of the courts of the state of California, U.S.A., to interpret or enforce any or all of these arbitration provisions. Judgment on any arbitration award may be entered in any court having jurisdiction, or application may be made to such court for judicial acceptance of the award and an order of enforcement, as the case may be. (3) The exclusive language to be used by the parties and the arbitrators in the arbitration proceedings shall be English. Any party wishing an interpreter shall make all arrangements directly with the interpreter and shall assume all costs of the service. (4) If a party is a foreign government or state, state-owned or state-operated enterprise or other instrumentality of a foreign government or state, such party waives all rights of sovereign immunity and neither the Federal Act of State doctrine nor the doctrine of sovereign immunity shall apply insofar as any enforcement in courts located in the U.S.A. is concerned. Page 2 of 2 Section 11: Electronic Copies. The electronically stored copy of your (or your agent s) signature, any written instructions or authorizations, the Account Application and the Agreement and Disclosures is considered to be the true, complete, valid, authentic and enforceable record, admissible in judicial, administrative or arbitration proceedings to the same extent as if the documents and records were originally generated and maintained in printed form. You agree to not contest the admissibility or enforceability of Schwab s electronically stored copy of such documents in any proceeding between you and Schwab. Section 12: Float. You agree that Schwab may retain as compensation for services your Account s proportionate share of any interest earned on aggregate cash balances held in Schwab s bank account with respect to (1) assets awaiting investment or (2) assets pending distribution from your Account. Such interest retained by Schwab shall generally be at money market rates. Schwab s receipt of such compensation is further described in the Agreement and Disclosures. Section 13: Unclaimed Property. If no activity occurs in the Account within the time period specified by applicable state law, the Account may be transferred to the appropriate state. Section 14: Information About SIPC. To obtain information about Securities Investor Protection Corporation (SIPC), including an explanatory SIPC brochure, please contact SIPC at or Section 15: Impartial Lottery for Securities Subject to Partial Call or Partial Redemption. If Schwab holds securities for you in street name, in Schwab s name, or in bearer form that are subject to partial call or partial redemption, then in the case of a partial call or partial redemption Schwab will use an impartial lottery system to select the securities to be called or redeemed from among accounts holding those securities. For a description of Schwab s lottery system, please visit PartialCalls. If you would like a printed description of Schwab s lottery system mailed to you, please contact a Schwab representative at Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC ( DS) APP (01/18) TC