Form 5306 - Application For Approval Of Prototype Or Employer Sponsored Individual Retirement Arrangement (Ira) Page 2

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Form 5306 (Rev. 8-2013)

Page

Part II

Plan Information

Attach a copy of the plan documents and indicate the article or section reference and the page number

Article or

For IRS

Page

where the following provisions appear. If an item does not apply, enter “N/A.” Sample language, or a listing

Section

Use

of required modifications (LRMs), is available on the IRS website at IRS.gov. Type “LRM” in the search box.

Number

Only

Reference

Sponsors are encouraged to use LRM language.

8a Does the IRA provide that the trust is created for the exclusive benefit of the participant

or his or her beneficiaries, or that the annuity contract must be owned only by the

annuitant?

1/13

b Does the IRA describe the type of allowable contributions (that is, only cash except

for rollovers) and maximum limitation?

2/14

c Does the IRA prohibit the investment of trust assets in collectibles, or contain a

statement informing individuals that an investment in collectibles, except for

investments in certain coins and precious metals, will be treated as a taxable

distribution? .

d Does the IRA prohibit investment in life insurance contracts? .

e Does the IRA provide the rules on required distributions commencing before death? .

5/15

Does the IRA provide the rules on required distributions commencing after death?

6/16

g Does the IRA provide that the account is nonforfeitable?

7/17

h Does the IRA provide that the contract is nontransferable?

Does the IRA provide for application of premium refund (other than refunds attributable

to excess contributions) before the end of the calendar year following the year of the

refund toward the payment of future premiums or the purchase of additional benefits?

Does the IRA prohibit commingling assets of trusts?

k Does the IRA provide that annuity contracts must have flexible premiums? .

Does the IRA provide for a separate accounting for the interest of each employee or

member of the association? .

m Does the IRA provide for annual calendar-year reports by trustees or issuers? .

10/21

n Does the IRA require substitution of non-bank trustee or custodian when notified by

the Commissioner of the Internal Revenue Service? .

o Does the IRA define compensation? .

12/22

5306

Form

(Rev. 8-2013)

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