Sit Mutual Funds Individual Retirement Account (Ira) Distribution Request Form (Page 4 of 4) in pdf

VII. T AX W ITHHOLDING E LECTION

A. Federal W ithholding

Federal i ncome t ax w ill b e w ithheld a t t he r ate o f 1 0% f rom a ny d istribution, s ubject t o t he I RS w ithholding r ules, u nless y ou e lect o r h ave p reviously e lected o ut

of withholding. Tax will be withheld on the gross amount of the payment even though you may be receiving amounts that are not subject to withholding

because they are excluded from gross income. This withholding procedure may result in excess withholding on the payments. If you elect to have no federal

taxes w ithheld f rom y our d istribution, o r i f y ou d o n ot h ave e nough f ederal i ncome t ax w ithheld f rom y our d istribution, y ou m ay b e r esponsible f or p ayment o f

estimated tax. You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are not sufficient. If you are completing

this f orm, y our b elow e lection w ill r emain i n e ffect u ntil s uch t ime a s y ou m ake a d ifferent e lection i n w riting t o t he C ustodian.

Please s elect o ne o f t he f ollowing:

I e lect T O N OT h ave f ederal i ncome t ax w ithheld. ( This o ption i s o nly a vailable f or a ccounts r egistered w ith a n a ddress i n t he U nited S tates.)

Withhold 1 0% f ederal i ncome t ax

Withhold________% f ederal i ncome t ax ( must b e m ore t han 1 0%)

B. State W ithholding

Your state of residence will determine your state income tax withholding requirements, if any. Those states with mandatory withholding may require state

income t ax t o b e w ithheld f rom p ayments i f f ederal i ncome t axes a re w ithheld o r m ay m andate a f ixed a mount r egardless o f y our f ederal t ax e lection. V oluntary

states let individuals determine whether they want state taxes withheld. Some states have no income tax on retirement payments. Please consult with a tax

advisor o r y our s tate's t ax a uthority f or a dditional i nformation o n y our s tate r equirements.

I elect TO NOT have state income tax withheld from my retirement account distributions (only for residents of states that do not require mandatory

state t ax w ithholding).

I elect TO have the following dollar amount or percentage from my retirement account distribution withheld for state income taxes (for residents of

states t hat a llow v oluntary s tate t ax w ithholding). $ _ _______________ o r _ _______________ %

VIII. P ARTICIPANT A UTHORIZATION

I c ertify t hat I a m t he i ndividual a uthorized t o m ake t hese e lections a nd t hat a ll i nformation p rovided i s t rue a nd a ccurate. I f urther c ertify t hat t he Custodian, t he S it

Mutual F unds, o r a ny a gent o f e ither o f t hem h as g iven n o t ax o r l egal a dvice t o m e, a nd t hat a ll d ecisions r egarding t he e lections m ade o n t his f orm a re m y o wn. T he

Custodian is hereby authorized and directed to distribute funds from my account in the manner requested. The Custodian may conclusively rely on this certification

and authorization without further investigation or inquiry. I expressly assume responsibility for any adverse consequences which may arise from the election(s) and

agree that the Custodian, Sit Mutual Funds, and their agents shall in no way be responsible, and shall be indemnified and held harmless, for any tax, legal or other

consequences o f t he e lection(s) m ade o n t his f orm.

Participant’s S ignature*:

Date:

*Beneficiary’s S ignature f or i nheritance l iquidations.

Please r eview t he S it M utual F unds p rospectus f or M edallion S ignature G uarantee s tamp r equirements.

Mail t o t he f ollowing:

First C lass M ail:

Overnight M ail:

Sit M utual F unds

P.O. B ox 9 763

4400 C omputer D rive

Providence, R I 0 2940-‐9763