Estate of Judith Baker 3/9/2022 - Laserfiche WebLink

Brancha 3 5 IRA Account a 0 2 3 5 3 1 FA,/PWA4 3 3 6 Section 8—Death Benefit Election —For initial Beneficiary Division or Payout. Rollover/Transfer to spouse's IRA f Lump sum U Transfer to Inherited IRA Transfer to Inherited IRA at another financial institution (attach ACATS). 09/08/2021 IRA PARTICIPANT ATE OF DEATH BENEFICIARY'S DATE OF BIRTH Section 9—Required Minimum Distributions ("RMD") (check one) Select your payment frequency in Section 4. AUTO-RMD (automatically pays out the exact amount) AUTO-RMD by Account— distribute only from this account number iJ AUTO-RMD by SSN group my accounts by IRA type and Social Security Number and distribute the aggregated RMD amount from the account indicated on this form. If you elect AUTO-RMD, the exact amount of your annual RMD will be paid out automatically. For each year thereafter, we will calculate your RMD using the IRS Uniform Life Expectancy Table and distribute it over the entire year based on the frequency selected in Section 4. This election will remain in effect unfit we receive updated instructions from you to do otherwise. For calculation purposes, if AUTO-RMD is checked, the default calculation will use the Uniform table. RMD for the year of the IRA owner's death must be paid out by December 31 of that year. The Uniform Table will be used as the default option if the Joint Life option is not selected. Joint Life Expectancy Calculation Election Joint Life Expectancy Table: only available when your sole Primary Beneficiary is your spouse who is more than ten (10) years younger than you SPOUSE BENEFICIARY'S DATE OF BIRTH (REQUIRED) SPOUSE BENEFICIARY'S SOCIAL SECURITY NUMBER (REQUIRED) Section 10—Notice of Federal Income Tax Withholding on IRA Distributions and Federal Income Tax Withholding Election The distributions you receive from an IRA are subject to withholding for federal income tax unless you elect not to have withholding apply by checking the appropriate box on this form. You may also elect to have withholding from your distribution by checking the appropriate box and indicating either 10%, a different percentage, or a fixed dollar amount. If no election is made, federal income tax will be withheld from your distribution at a rate of 10%. Your election will be applied to all subsequent distributions and will remain in effect until you revoke it in writing. To change or revoke your election, contact your Financial Advisor or Private Wealth Advisor. If you elect not to have withholding apply or if you do not have enough withheld, you may be responsible for payment of estimated tax. You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are not sufficient. Even if you elect not to have federal income tax withheld, you are liable for payment of federal income tax on your IRA distributions. You also may be subject to tax penalties under estimated tax payment rules if your payment of your estimated tax and withholding, if any, are not adequate to cover the income tax. If you elect to have federal income tax withheld, your state of residence may also require that state income tax be withheld. CHECK ONE -if no boxes are checked, the minimum federal rate of 10% will be applied. 2 Do not withhold federal income tax or _ Withhold federal income tax from my IRA distribution as follows: ❑ For verbal requests only: i 10% of gross distribution — Default —Same as selected to the left Percentage of gross distribution._ % (not less than 10%) C None — Fixed dollar amount $ _ __._ (fixed payment only; not less than 10%) Section 11—Notice of State Income Tax Withholding on IRA Distributions and State Income Tax Withholding Election In certain states, state income tax can also be withheld from the distributions you receive from an IRA If federal taxes are being withheld, you may also elect to have the state tax withheld as either a percentage of gross distribution or a percentage of the federal income tax withholding. Certain states require that the state income tax be withheld from your distribution. Other states may allow you to waive withholding on the state level (and still withhold federal income tax) by making this election on IRS Form W-4P or checking the appropriate box on this form. Your election will be applied to all subsequent distributions and will remain in effect until you revoke it in writing. Since eligible states have varying guidelines and minimums for withholding, you should refer to withholding regulations for your state and/or consult with a tax advisor. Even if you elect not to have federal income tax withheld, you are liable for payment of federal income tax on your IRA distributions. You also may be subject to tax penalties under estimated tax payment rules if your payment of your estimated tax and withholding, if any, are not adequate to cover the income tax. If you elect to have federal income tax withheld, your state of residence may also require that state income tax he withheld. CHECK ONE —if no boxes are checked the minimum state rules will be applied. __ Do not withhold state income tax or Withhold state income tax from my IRA distribution as follows: n Percentage of gross distribution __..... ...... _._____ Percentage of federal withholding _.__-........% n Fixed dollar amount $______.._.._ —_ __. (fixed payment only) For verbal requests only: Default —Same as selected to the left None ■ Section 12—Electronic Funds Transfer Service Terms and Conditions and Additional Disclosures These Funds Transfer Service Terms and Conditions and Additional Disclosures (the "Terms") govern your use of the Morgan Stanley Funds Transfer Service (the "Service") to electronically transfer funds to and f om your Morgan Stanley Smith Barney LLC brokerage account (the "Morgan Stanley Account") and your accounts at other financial institutions ("Outside Bank Accounts") as identified above. These transfers are referred to herein as 'Transfers:' These Terms supplement the terms and conditions in the agreement governing your Morgan Stanley Account (the "Account Agreement"), which are incorporated therein by reference. In the event of any conflict between these Terms and the terms and conditions in your Account Agreement, these Terms shall govern with respect to your use of the Service. If you have also enrolled in Morgan Stanley.com's Online Transfers Service, any transfers that you initiate by contacting your Financial Advisor to act on your instructions, will be governed by these Terms. Outside Bank Accounts that you enroll in the Service must share at least one (1) common owner with the Morgan Stanley Account. By agreeing to these Terms, you are authorizing Morgan Stanley to initiate debit and credit transactions with your Morgan Stanley Account(s) and Outside Bank Accounts to effect Transfers and to correct errors. You further understand and agree that you will not be able to rescind any Transfer that has reached the Executed status. ATransfer is given the "Executed" status by Morgan Stanley when all required internal Morgan Stanley approvals have been obtained and Morgan Stanley has initiated the processing of the Transfer; you may contact your Branch or go online to find out whether a Transfer has reached the "Executed" status. However, as discussed below, "Executed" does not mean that payment of the Transfer is complete. Should an incorrect amount be transferred, you authorize Morgan Stanley to correct the error through its initiation of a debit/credit to your Morgan Stanley Account(s) and Outside Bank Account(s), as applicable. Should a correction not be possible (due to, for example, insufficient funds), you agree to promptly deposit into your Morgan StanleyAccount any amount you may owe Morgan Stanley. This authorization will remain in full force and effect until Morgan Stanley has received notification from you of its termination in such time and in such manner as to afford Morgan Stanley and your depository institutions a reasonable opportunity to act on it. Please contact your Financial Advisor if you wish to terminate use of the Service. Once you have submitted a signed Form authorizing Transfers, or you have provided such authorization online as part of the Online Transfers Service, Morgan Stanley may initiate IRA DISTRIBUTION FORM (02/2020) RETIRACD RETIRACD WFD PAGE OFF PLEASE RETURN ALL PAGES NY CS 9706902 02/2020