Common use of Recordkeeping and Reports Clause in Contracts

Recordkeeping and Reports. Subject to the provisions of this Agreement, the Custodian will maintain such records as may be necessary for the proper administration of the Custodial Account. The Custodian will submit all reports to the IRS, Employer, and Participant at such times and in such manner as may be prescribed as the responsibility of the Custodian by applicable law.