Fillable Form 5305-A - Traditional Individual Retirement Custodial Account printable pdf download

5305-A

Do not file

Form

Traditional Individual Retirement Custodial Account

with the Internal

(Rev. April 2017)

(Under section 408(a) of the Internal Revenue Code)

Revenue Service

Department of the Treasury

Internal Revenue Service

Name of depositor

Date of birth of depositor

Account number

Address of depositor

Check if amendment

▶

Name of custodian

Address or principal place of business of custodian

The depositor named above is establishing a traditional individual retirement account under section 408(a) to provide for his or her retirement and

for the support of his or her beneficiaries after death.

The custodian named above has given the depositor the disclosure statement required by Regulations section 1.408-6.

The depositor has assigned the custodial account

dollars ($

) in cash.

The depositor and the custodian make the following agreement.

Article I

Except in the case of a rollover contribution described in section 402(c), 403(a)(4), 403(b)(8), 408(d)(3), or 457(e)(16), an employer contribution to a

simplified employee pension plan as described in section 408(k), or a recharacterized contribution described in section 408A(d)(6), the custodian will

accept only cash contributions up to $5,500 per year for 2013 through 2017. For individuals who have reached the age of 50 by the end of the year, the

contribution limit is increased to $6,500 per year for 2013 through 2017. For years after 2017, these limits will be increased to reflect a cost-of-living

adjustment, if any.

Article II

The depositor’s interest in the balance in the custodial account is nonforfeitable.

Article III

1. No part of the custodial account funds may be invested in life insurance contracts, nor may the assets of the custodial account be commingled

with other property except in a common trust fund or common investment fund (within the meaning of section 408(a)(5)).

2. No part of the custodial account funds may be invested in collectibles (within the meaning of section 408(m)) except as otherwise permitted by

section 408(m)(3), which provides an exception for certain gold, silver, and platinum coins, coins issued under the laws of any state, and certain bullion.

Article IV

1. Notwithstanding any provision of this agreement to the contrary, the distribution of the depositor’s interest in the custodial account shall be made

in accordance with the following requirements and shall otherwise comply with section 408(a)(6) and the regulations thereunder, the provisions of

which are herein incorporated by reference.

2. The depositor’s entire interest in the custodial account must be, or begin to be, distributed not later than the depositor’s required beginning date,

April 1 following the calendar year in which the depositor reaches age 70

. By that date, the depositor may elect, in a manner acceptable to the

custodian, to have the balance in the custodial account distributed in:

(a) A single sum or

(b) Payments over a period not longer than the life of the depositor or the joint lives of the depositor and his or her designated beneficiary.

3. If the depositor dies before his or her entire interest is distributed to him or her, the remaining interest will be distributed as follows:

(a) If the depositor dies on or after the required beginning date and:

(i) The designated beneficiary is the depositor’s surviving spouse, the remaining interest will be distributed over the surviving spouse’s life

expectancy as determined each year until such spouse’s death, or over the period in paragraph (a)(iii) below if longer. Any interest remaining after the

spouse’s death will be distributed over such spouse’s remaining life expectancy as determined in the year of the spouse’s death and reduced by 1 for

each subsequent year, or, if distributions are being made over the period in paragraph (a)(iii) below, over such period.

(ii) The designated beneficiary is not the depositor’s surviving spouse, the remaining interest will be distributed over the beneficiary’s remaining

life expectancy as determined in the year following the death of the depositor and reduced by 1 for each subsequent year, or over the period in

paragraph (a)(iii) below if longer.

(iii) There is no designated beneficiary, the remaining interest will be distributed over the remaining life expectancy of the depositor as

determined in the year of the depositor’s death and reduced by 1 for each subsequent year.

(b) If the depositor dies before the required beginning date, the remaining interest will be distributed in accordance with paragraph (i) below or, if

elected or there is no designated beneficiary, in accordance with paragraph (ii) below.

(i) The remaining interest will be distributed in accordance with paragraphs (a)(i) and (a)(ii) above (but not over the period in paragraph (a)(iii),

even if longer), starting by the end of the calendar year following the year of the depositor’s death. If, however, the designated beneficiary is the

depositor’s surviving spouse, then this distribution is not required to begin before the end of the calendar year in which the depositor would have

reached age 70

. But, in such case, if the depositor’s surviving spouse dies before distributions are required to begin, then the remaining interest will

be distributed in accordance with paragraph (a)(ii) above (but not over the period in paragraph (a)(iii), even if longer), over such spouse’s designated

beneficiary’s life expectancy, or in accordance with paragraph (ii) below if there is no such designated beneficiary.

(ii) The remaining interest will be distributed by the end of the calendar year containing the fifth anniversary of the depositor’s death.

4. If the depositor dies before his or her entire interest has been distributed and if the designated beneficiary is not the depositor’s surviving spouse,

no additional contributions may be accepted in the account.

5305-A

Form

(Rev. 4-2017)

Cat. No. 11820G