6 of 7IV00CS3001 (01/14) Version 1.4
• By signing this Account Application, I hereby acknowledge and agree that I have received a copy of the Account Owner Agreement for the
Ivy Funds InvestEd 529 Plan, that the Account Owner Agreement is expressly incorporated herein by this reference and that the Account
Owner Agreement shall become effective immediately upon the signing of this Account Application.
• I certify this account is being opened to provide funds for the qualified higher education expenses of the beneficiary on the account. To the
best of my knowledge, the contributions should not cause the balances in all qualified state tuition programs for such beneficiary to exceed
the maximum contribution limit for the program.
• I have received a copy of the current Program Overview for the Ivy Funds InvestEd 529 Plan, (529-OVERVIEW) and agree to the terms and
conditions therein and herein.
• I have not relied on any representation or other information, whether oral or written, other than the information set forth in the Prospectus for
the funds selected, the Program Overview and the Account Owner Agreement that accompanied the Prospectus and this Account
• I consent to the householding (delivery of a single Prospectus, shareholder report and/or Proxy Statement to a shared address) for any
current or future fund within the Ivy Fund Family.
• I have had an opportunity to review the Privacy Notice and /or otherwise agree to receive a copy of the Privacy Notice with the account
• I understand an investment in a fund is not a deposit in a bank, and is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other governmental agency.
• I understand: (i) the state of Arizona does not insure this investment account: (ii) neither the principal amount invested nor any investment
return is guaranteed by the state of Arizona, WI Services Company or any of it's affiliated companies, the funds or by any other person; (iii)
the value of this account may increase or decrease, based on the investment performance of the funds to which the contributions are
allocated; (iv) no person makes any guarantee I will not suffer a loss of amounts contributed to the account or that the value of the account
will be adequate to fund actual higher education expenses.
• I understand participation in the program does not guarantee that any designated beneficiary: (i) will be accepted as a student by any
institution of higher education; (ii) if accepted, will be permitted to continue as a student; (iii) will be treated as a state resident of any state for
tuition purposes; (iv) will graduate from any institution of higher education; or (v) will receive any particular treatment under applicable state,
federal or other financial aid programs.
• I understand the account (and any interest in the account) may not be pledged or used as security for a loan.
• If I am transferring funds from an existing Ivy Account or any other account, I understand the transfer will be treated as redemption or sale of
assets in that account, and that such a transfer may be a taxable transaction.
• If I am transferring funds from an existing account subject to the Uniform Gift/Transfers Minors Act (UGMA/UTMA), or similar state law, I
understand: (i) the transfer will be treated as a redemption or sale of account assets that may be a taxable transaction; (ii) the beneficiary
must be named as the owner of the account; (iii) such account may be viewed as an asset of the beneficiary for purposes of federal, state or
other financial aid programs; (iv) there are variations in the state law treatment with respect to UGMA/UTMA Accounts and transfers from
such accounts, and I should consult with tax and/or legal advisors with respect to such issues.
• I understand I will have no ability to direct the investment made by the funds. I further understand that under current rules, I will be able to
change the investment option made with respect to the amounts contributed, only once per calendar year or upon a change in the beneficiary
on the account.
• I understand and agree any dividend and capital gain distributions made by a fund will be automatically reinvested in additional shares in
• I understand: (i) the state of Arizona, WI Services Company or any of it's affiliated companies, and the funds do not guarantee and are not
responsible for any favorable tax treatment or tax benefits with respect to the funds and the program; (ii) the tax laws may change, and that
they vary among different states
and depend upon individual situations and circumstances; (iii) there may be federal gift tax, federal estate
tax or federal generation skipping transfer tax consequences that result from making contributions and/or changing the beneficiary and/or
account ownership, and there may also be consequences under state tax or state probate or other state laws. I understand it is my
responsibility to consult with our own attorney or tax advisor with respect to the tax and other consequences of investing in the funds and the
• I understand there is no guarantee the funds will remain as an investment option for the program during the entire period planned or
necessary to save for the education expenses of the beneficiary. Under certain circumstances this may result in a transfer by the state of
Arizona of the account to another financial situation. Such a transfer could result in a change in investment strategy.
1 No contribution may be made to an account if it would cause the sum of the balances in all section 529 Accounts with the same beneficiary as of the first day of the
account year plus contributions made during the account year less withdrawals during the account year to or from any such account to exceed the lesser of (a) the cost
in current dollars of qualified higher education expenses the account owner reasonable anticipates the designated beneficiary will incur, or (b) a balance limit
established by the Commission. The balance limit will be adjusted each year (currently based on a formula that takes into account an index of average costs at private
colleges), and the Commission may also set a lower balance limit if it determines that a lower limit is required for the program to quality under Section 529 of the
Internal Revenue Code. WI Services Company will not accept all, or a portion of a contribution, if it determines that such contribution would cause the sum of the
account balance for the designated beneficiary to exceed the balance limit. Under current Arizona law, any excess contributions with respect to a beneficiary must be
promptly withdrawn as a non-qualified withdrawal or rolled over to an account for a different beneficiary.
2 Under current law, any Arizona income tax on any account earnings is deferred until withdrawal, and withdrawals for qualified higher education expenses are also
exempt from Arizona income tax. The earnings portion of any non-qualified withdrawals will generally be taxable to Arizona residents. Residents of other states should
contact their tax advisor to determine the state tax consequences of an investment in the program in their own state and whether investing in their state's program
would offer tax benefits not available to them when opening an Ivy Funds InvestEd 529 Plan account.