One-time Account establishment fee: $150 (paid upon initial application)
No Annual Record Keeping Fee until your first movement of money! (Investment, Distribution, Termination)
Accounts under $7500 pay a lower Annual fee! (please contact us for details)
Account fees: Annual Fees: are assessed each year on the account’s anniversary date of the first movement of funds, are not prorated, and are withdrawn from any cash in the Depositor’s Account not invested pursuant to a specific investment direction by you, the Depositor (hereinafter referred to as “Undirected Cash”), unless Depositor elects to pay by credit card or debit card as specified above.
Transaction fees: are due prior to funding the transaction. Fees paid from Depositor’s account will be reflected on Depositor’s statements, which are available online. Where Depositor elects to pay assessed fees with Undirected Cash and there is insufficient Undirected Cash to cover the assessed fees, Depositor authorizes Custodian to charge Depositor’s credit card or debit card to collect any assessed fees. Where Depositor elects to pay by credit card or debit card and the credit card or debit card is declined, for any reason, Depositor authorizes Custodian to withdraw Undirected Cash to collect any assessed fees. Where there is insufficient Undirected Cash in the Depositor’s account and the credit card or debit card on file are declined, for any reason, Depositor authorizes Custodian to liquidate other assets in Depositor’s account to pay for such fees after a 30-day notification, in accordance with the Custodial Agreement and Disclosure Statement.
Late Payment Fees: Depositor will be charged $25 per month or any portion of any month, an invoice remains past due or the maximum allowable under applicable state law. Depositor agrees and directs Custodian that Depositor’s Undirected Cash be placed into a state and/or Federal banking institution unless Custodian is otherwise directed by Depositor. Depositor understands that if fees are not paid within thirty (30) days after Custodian has provided a written past due notice, Custodian may begin the process of closing Depositor’s account. Depositor understands that any asset distributed directly to Depositor as part of closing Depositor’s account will be reported to the IRS on Form 1099R and may subject Depositor to possible taxes and penalties. Depositor agrees that accounts with past due fees, unfunded accounts, and accounts with zero value will continue to incur administrative fees until such time as Depositor notifies Custodian, of intent Depositor’s to close the account or until Custodian resigns. In accordance with Depositor’s Account Application, this Fee Disclosure is part of Depositor’s Agreement with the Custodian and must accompany Depositor’s Application. Custodian reserves the right to change its Fee Schedule at any time with a 30-day notice to Depositor.
By my signature below, I acknowledge and declare that I have examined this New Account Application, and to the best of my knowledge and belief, it is true, correct, and complete. I further declare and acknowledge I have read the Custodial Agreement (Forms 5305A, 5305-RA, 5305-SA, 5305-SEP, 5305-C, and 5305-EA), Fee Schedule, Privacy Notice, and Account Disclosure Statement and agree to abide by the terms as currently written, or as they may be amended from time to time. In the event of a conflict between this New Account Application, Fee Schedule, Privacy Notice, and/or Account Disclosure Statement, the Custodial Agreement shall govern. This Agreement, which shall include the Custodial Agreement, Fee Schedule, Privacy Notice, New Account Application, and Account Disclosure Statement, is the complete and exclusive agreement between the parties with respect to my Custodial Account and shall supersede any prior agreements and communications (both written and oral) related to my Custodial Account.
Corporate Headquarters: New Vision Trust Company, 401 E. 8th Street, Suite 200R, Sioux Falls, South Dakota 57103