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It explains eligibility to open and contribute, how to revoke an IRA within a limited window, and Merrill Lynch’s role as the custodian and, for investment advice, as a fiduciary under ERISA. The document covers beneficiary designation, contribution and rollover mechanics, investing guidance and restrictions, required minimum distributions, fee and expense categories, and relevant taxes, penalties, and worksheets for calculations.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":36,"@type":70,"position":76},"https://docshare.wps.com/template/forms/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/disclosure-and-custodial-agreement-traditional-ira-disclosure-statement/304147/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/disclosure-and-custodial-agreement-traditional-ira-disclosure-statement/304147.png","ImageObject",442,249,{"name":88,"@type":89},"Rowan","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-22","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":73},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"Who can open a Traditional IRA under this disclosure statement?","Question",{"text":108,"@type":109},"A Traditional IRA can only be opened in an individual capacity and cannot be opened under joint ownership or by non-individual entities.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"How can you revoke your IRA and receive contributions back?",{"text":113,"@type":109},"You may revoke within 14 days from the date the Disclosure Statement was mailed by notifying in writing. 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INTRODUCTION—PAGE 2  \nPurpose of this Disclosure Statement—page 2 Who can open an IRA—page 2  \nRevoking your IRA—page 2  \n2. THE ROLE OF MERRILL LYNCH—PAGE 2  \n3. ABOUT YOUR IRA AND SERVICES WE PROVIDE—PAGE 2  \nServices for your IRA—page 2  \n4. DESIGNATING BENEFICIARIES—PAGE 3 Types of beneficiaries—page 3  \nDesignating beneficiaries as primary or contingent—page 4  \nChanges in family status affecting designations—page 4  \nTax implications of making a designation—page 4  \n5. CONTRIBUTING TO YOUR IRA—PAGE 4 Transfers and rollovers from another IRA—page 5 Annual contributions limits—page 7  \n6. ADDITIONAL INFORMATION ABOUT YOUR ACCOUNT—PAGE 8  \nInvesting your IRA assets—page 8  \nProhibited investments and transactions—page 9 Insurance and SIPC protection—page 9  \nLosing your IRA’S tax-deferred status—page 10 Sweep arrangements for cash in your IRA—page 10 Tax communications we’ll send—page 10  \n7. DISTRIBUTIONS FROM YOUR IRA—PAGE 10 Required minimum distributions—page 10 Calculating your minimum distributions—page 10 Taking your minimum distributions—page 11 Distributions after your death—page 11 Calculating distributions to beneficiaries—page 11  \n8. FEESAND EXPENSES—PAGE 12  \nCustodial fees—page 13  \nAccount close-out fee—page 13  \nOther fees and expenses—page 13  \n9. TAXES AND PENALTIES—PAGE 13  \nYour responsibility to file tax returns and other reports—page 14  \nDeductible and nondeductible contributions—page 14 Penalty for contributions over the annual  \nlimit—page 14  \nTax-free distributions for nondeductible contributions—page 15  \nTaxes on distributions—page 15  \nSubstantially equal periodic payments to avoid penalty—page 16  \nPenalty for failure to take minimum distribution—page 16  \n10. WORKSHEETS TO HELP YOU WITH CALCULATIONS—PAGE 16  \nCalculating tax-free distributions—page 16  \nActive participants: Calculating your tax deduction—page 17  \n11. GLOSSARY—PAGE 18  \n12. IRS APPROVAL—PAGE 20  \nCUSTODIAL AGREEMENT—PAGE 21  \nRETIREMENT ASSET SAVINGS PROGRAM—PAGE 35 MERRILL LYNCH STATEMENT LINK SERVICE—PAGE 43  \nThe following pages contain the agreement and disclosures governing your traditional IRA including disclosures required by federal law.  \nThis Disclosure Statement and Custodial Agreement has not yet been updated for tax law changes included in the Setting Every Community Up for Retirement Enhancement (SECURE) and SECURE 2.0 Acts which became law in 2020 and 2023, respectively. The SECURE Acts change the rules governing IRA contributions and the age at which you are required to start your Required Minimum Distributions (RMDs). SECURE and SECURE 2.0 Acts changes to the law are not reflected in this document. You should check with your tax advisor regarding your specific situation before making any decisions concerning your IRA.  \nSection 1: Introduction  \nPURPOSE OF THIS DISCLOSURE STATEMENT  \n[1] This Disclosure Statement describes the rules and benefits of your Traditional Individual Retirement Account (IRA) as well as legal and federal tax information you should know about it. In case there is a discrepancy between this Disclosure Statement and your Custodial Agreement, the Custodial Agreement is the primary document governing your IRA other than as provided in the second paragraph under Section 2: The role of Merrill Lynch in this Disclosure Statement, which shall govern with respect to our role as fiduciary.  \nWHO CAN OPENAN IRA  \n[2] You can only open an IRA in an individual capacity. It cannot be opened under joint ownership or by non-individual entities.  \n[3] To make annual contributions to your IRA, you must be under age 70½ at the end of the Tax Year and receive taxable compensation. But there are no age or compensation restrictions to make contributions by rollover or direct transfer. See Section 5 for more information. REVOKING YOUR IRA  \n[4] You can revoke your IRA and receive a complete refund of any contributions ","cbCainAJJNi1c42i","https://ap.wps.com/l/cbCainAJJNi1c42i","pdf",2108062,44,"English","# INTRODUCTION\n## Purpose of this Disclosure Statement\n## Who can open an IRA\n## Revoking your IRA\n# THE ROLE OF MERRILL LYNCH\n# ABOUT YOUR IRA AND SERVICES WE PROVIDE\n## Services for your IRA\n# DESIGNATING BENEFICIARIES\n## Types of beneficiaries\n## Changes in family status affecting designations\n## Tax implications of making a designation\n# CONTRIBUTING TO YOUR IRA\n## Transfers and rollovers from another IRA\n## Annual contributions limits\n# ADDITIONAL INFORMATION ABOUT YOUR ACCOUNT\n## Investing your IRA assets\n## Prohibited investments and transactions\n## Insurance and SIPC protection\n## Losing your IRA’s tax-deferred status\n## Sweep arrangements for cash in your IRA\n## Tax communications we’ll send\n# DISTRIBUTIONS FROM YOUR IRA\n## Required minimum distributions\n## Calculating your minimum distributions\n## Distributions after your death\n## Calculating distributions to beneficiaries\n# FEES AND EXPENSES\n## Custodial fees\n## Account close-out fee\n## Other fees and expenses\n# TAXES AND PENALTIES\n## Responsibility to file tax returns\n## Deductible and nondeductible contributions\n## Penalty for contributions over the annual limit\n## Taxes on distributions\n## Penalty for failure to take minimum distribution\n# WORKSHEETS TO HELP YOU WITH CALCULATIONS\n## Calculating tax-free distributions\n## Active participants: Calculating your tax deduction\n# GLOSSARY\n# IRS APPROVAL\n# CUSTODIAL AGREEMENT","[{\"question\":\"Who can open a Traditional IRA under this disclosure statement?\",\"answer\":\"A Traditional IRA can only be opened in an individual capacity and cannot be opened under joint ownership or by non-individual entities.\"},{\"question\":\"How can you revoke your IRA and receive contributions back?\",\"answer\":\"You may revoke within 14 days from the date the Disclosure Statement was mailed by notifying in writing. If properly postmarked, certified, or registered within the period, contributions are returned without deductions for commissions, administrative expenses, other fees, or market value fluctuations.\"},{\"question\":\"What does the document say about Merrill Lynch’s role and fiduciary status?\",\"answer\":\"Merrill Lynch follows instructions for transactions and may hold assets uninvested if it does not receive instructions. It acknowledges acting as a fiduciary under Title I of ERISA and Section 4975 of the Tax Code when providing investment advice and recommendations regarding securities or strategies in your IRA.\"}]","Disclosure and Custodial Agreement - Traditional IRA Disclosure Statement | PDF",1789810564]