Examples of Xxxxxxxxx Account in a sentence
All contributions to the Xxxxxxxxx Account shall be invested and reinvested by the Custodian as directed by the Responsible Individual (or the Depositor or Designated Beneficiary, if applicable).
The Custodian may also charge a service fee in connection with any distribution from the Xxxxxxxxx Account.
Any contribution made to the Xxxxxxxxx Account will be treated as a contribution for the year it is received, unless the contribution is made between January 1 and the April 15th postmark deadline and you have identified the contribution as a prior year contribution.
Contributions may be made to the Xxxxxxxxx Account for a Designated Beneficiary under the age of 18 by one or more individuals but the total contributions made to all Xxxxxxxxx ESAs for the Designated Beneficiary cannot exceed $2,000 for any tax year.
Subject to any minimum investment requirements, contributions to the Xxxxxxxxx Account must be allocated to one or more of the Mutual Funds made available in connection with the Xxxxxxxxx Account.
I agree that the Xxxxxxxxx Account becomes effective only upon written acceptance by the Custodian and that such written acceptance will consist of a confirmation of transaction statement.
As referenced in the Xxxxxxxxx Account Application Instructions and in any forms associated with this Custodial Agreement, carries the same definition as the Depositor identified in this Custodial Agreement and the Definitions Section of this Custodial Agreement.
The Depositor, Designated Beneficiary and Responsible Individual agree that the Custodian shall be entitled to receive any and all fees specified in the Custodian’s current published fee schedule for establishing and maintaining this Xxxxxxxxx Account, including, but not limited to, any fees for distributions from, transfers from, and terminations of this Xxxxxxxxx Account.
The charges in connection with the Xxxxxxxxx Account are set forth in the Application Form.
Xxxxxxxxx ESAs established using the Custodial Agreement will meet the requirements of the Code applicable to Xxxxxxxxx ESAs. However, the IRS has not endorsed the investments permitted under this Xxxxxxxxx Account.