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Merrill Required Minimum DistributionService
If you have an Individual Retirement Account (IRA), Individual Retirement Rollover Account® (IRRA®),
Simplified Employee Pension (SEP) IRA or Savings Incentive Match Plan for Employees (SIMPLE) IRA
that requires you take minimum distributions each year, you may want to consider enrolling in Merrill’s
Required Minimum Distribution Service.
What is the Merrill Required Minimum
Distribution Service?
This convenient service allows you to authorize Merrill to
automatically calculate and distribute your annual Required
Minimum Distribution (RMD) from your IRA to a BankofAmerica
banking or Merrill investment account or an account at another
financial institution.
••An RMD is the minimum amount you must begin taking each year
from your IRAs after reaching a specified age.
1
••If this is your first distribution year, you have until April 1 of the
year after you reach age 70½ or 72, as applicable, to take your
first distribution. Inallyears after that, your RMD must be taken
by December 31.
Merrill has created this service to make it easier for you to have
your RMD paid to you each year.
Who can participate?
This service is available to IRA, IRRA®, SEP IRA and SIMPLE IRA
clients who must take RMDs.
••Inherited IRA owners may be eligible for the Beneficiary
RMDService (if so please use the Beneficiary Required
Minimum Distribution Service form); however, keep in mind
thatdistributions from an Inherited IRA do not satisfy your
RMDrequirements from otherIRAs.
Beneficiary Required Minimum Distribution Service fact sheet.
••Clients who do not have a year-end value cannot enroll for
thatyear.
What are the benefits of the RMD Service?
••This service will simplify the distribution process by automatically
calculating and distributing your RMD each year.
••By automatically calculating your distribution, Merrill helps
ensure that your RMD is taken each year, avoiding potential
additionaltaxes.
••The service also helps ensure that you do not over- or under-
distribute in a given year.
How does the service work?
••Each January, Merrill will provide you with an annual RMD
calculation for each IRA you own at Merrill.* Your RMD amount for
each IRA is calculated based on its December 31 value from the
previous year, your age at the end of the current year and, under
certain circumstances, your primary beneficiary’s age.
••The service automatically will send your RMD to you by check,
electronically distribute it into your Cash Management Account®
(CMA® account) or BankofAmerica checking or savings account,
or distribute it to an account at another financial institution at
intervals you select for the calendar year.
••You can also elect to fund your scheduled distribution by
authorizing Merrill to automatically liquidate specified mutual
funds in your account, if eligible.
••If you maintain multiple IRAs at Merrill and want each of your
RMDs automatically distributed to you eachyear, you must enroll
each account separately in the service.
••If you take a one-time distribution outside of this service, you
will have the option to subtract the distribution amount from
theservice’s remaining calculated RMD amount.
*Provided all necessary information is filed.
MerrillLynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or
provided by companies that are affiliates of BankofAmerica Corporation (“BofACorp.”). MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and
awholly owned subsidiary of BofACorp.
Investment products:
Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
How do you enroll?
To enroll in the service, simply follow these steps:
1. Complete the Merrill RMD Service Enrollment and Authorization
Form (on pages 3-5).
2. Return the completed form, along with any additional
documentation, if required, to:
Merrill
P. O. Box 29002
Hot Springs, AR 71903
Or fax to 866.994.7807
You will receive a written confirmation once your enrollment
iscomplete.
Enrollment in the service is limited to one distribution instruction
per account.
What happens if a scheduled distribution does not
occur?
It is your responsibility to ensure liquid funds (cash and/or money
accounts) are available for your scheduled distribution. If a
scheduled distribution does not occur, you might not meet your
RMD obligation and may be subject to an additional tax of 50% of
the difference between the RMD amount you should have taken
and the amount actuallytaken.
••You may elect the automatic liquidation of mutual funds to help
ensure funds are available. If you elect to fund your distribution
via automatic liquidation, it is your responsibility to ensure that
the selected funds are available at the time of redemption.
••Merrill will adjust future payments to make up for a missed
distribution. If a scheduled distribution does not occur, Merrill
will divide the remaining RMD amount by the remaining total
number of payments scheduled, based on your selected payment
frequency, to satisfy your RMD for that year.
••If sufficient liquid funds are unavailable in your account on a
scheduled distribution date, Merrill will continue to monitor that
account for available cash and/or money accounts for 15 days.
••If funds become available during the 15 days, Merrill will attempt
to make the scheduled distribution. If sufficient funds are still
unavailable after15 days, we will be unable to process your
distribution request. You may have to take other action to meet
your RMD obligation for that year.
For scheduled distributions in December, Merrill will stop
monitoring your account for available funds on the last business
day of the tax year (typically December31), even if the 15 days
have not passed. If funds are still unavailable on December 31,
we will be unable to process the distribution request. If there is a
possibility that your accountmay have insufficient available funds
from which to make RMDs, contact a Merrill Financial Solutions
Advisor in sufficient time to liquidate your investments to raise the
needed funds. Self-Directed clients may contact the Investment
Center with any questions regarding fund availability.
What happens if you enroll for the current year?
••Generally, the amount of each scheduled distribution iscalculated
by dividing the annual RMD by the total number of payments
scheduled for that year. However, if you enroll in the service with
a current-year start date, Merrill will, if necessary, prorate your
remaining scheduled payments, based on your selected payment
frequency, to satisfy your RMD for that year.
••Distributions taken from your account before your enrollment in
the service will not be considered when prorating your scheduled
distributions. For example, ifyouenroll in June, choose monthly
distributions and your RMD is $12,000 for that year, Merrill will
distribute $2,000 per month from July through December.
••Please contact Merrill if, when prorating your scheduled
distributions, you want to consider previous distributions taken
from your account before enrollment in the RMD Service.
What if you already have instructions on file?
For accounts with existing periodic distributions, please contact
Merrill before you enroll to discuss whether those instructions
should be changed or canceled. Enrollingin the service will not
automatically cancel anyexisting instructions.
What if your account is enrolled in Merrill Guided
Investing, Merrill Guided Investing with Advisor, or
MerrillEdge Advisory Account (Advisory Program)?
If your account is enrolled in an Advisory Program, your standing
instruction and authorization to Merrill for these RMD amounts is
a request for a withdrawal of assets, as described in the relevant
Advisory Program brochure. Even if you are no longer enrolled
in anAdvisory Program, the RMD service will continue for your
account. Managed accounts are eligible for RMD auto liquidations
(see part 4 to enroll). The liquidation of specific mutual funds in
your managed account is not eligible.
How can you get started?
Visit merrilledge.com/fsalocator to find
aMerrillFinancial Solutions Advisor™ at select
BankofAmerica financial centers.
Call 888.654.6837 Monday through Friday,
8a.m. to 10p.m. Eastern if you’re already
aclient.
Interested in becoming a client?
Call 888.637.3343.
Neither BankofAmerica nor any of its affiliates provide legal, tax or accounting advice. You should consult your legal
and/ortax advisors before making any financial decisions.
2
Merrill RMD Service Enrollment and Authorization Form
Part I. Account Owner
Please provide all information as requested.
Name (Please print) Merrill retirement account number
Date of birth (month/day/year)
Instruction type (Please select one of the following.) New
Phone number
Change Cancel
If you have taken a distribution, or distributions, from this account within this calendar year and want the distribution(s)
considered when calculating your RMD for this calendar year, please check one of the options below.
Consider the total value of the distribution(s) taken this calendar year.
Only consider the following portion of the distribution(s) taken this calendar year: $
Part 2. Distribution Method
Please check one of the boxes below to indicate where you would like your distribution sent.
If you choose to distribute your RMD to an outside financial institution, please make sure the voided check is preprinted with your name and address, as well as your financial
institution’s address. If you don’t have a preprinted check, or if the account you want to access is not a checking account, you must provide a letter from your financial institution
on its letterhead. The letter must be signed by an officer of the institution and must include: 1)your account title, 2)type of account (checking, savings, other), 3)account number,
4)institution’s ABA routing/transit number and 5) your taxpayer identification number.
A. Distribute to a Merrill non-retirement account
Account number
B. Distribute to BankofAmerica account
(Automated Clearing House)
Account number
ABA routing number (voided check not required)
E. Distribute to an outside financial institution
(Automated Clearing House)
Name of institution
Account number
ABA routing number
C. Mail check to the account address on file
D. Mail check to the address listed here:
Memo*
*This information will not be displayed in the envelope window.
Outside account to be credited (please select one)
Checking (Enclose a preprinted, voided check for the account)
Savings (Enclose a letter of authorization from your financial institution)
Other (Enclose a preprinted, voided check for the account or a letter of
authorization from your financial institution)
Part 3. Distribution Schedule
Indicate the start date and frequency of your distributions.**
**To ensure proper calculation of your RMD, the start date must begin after January 15th.
Distribution start date: / /
(month) (day) (year)
(Please note that if you have elected to have your distributions sent to an outside financial institution, your start date must be at least 10 days after your enrollment date.)
Distribution frequency (Please select one of the following)
Monthly Quarterly Semiannually Annually
You can choose how frequently — monthly, quarterly, semiannually or annually — your RMD is distributed and the day of the month on which the distribution occurs. If this day falls
on a weekend or holiday, distributions will be made on the prior business day. You may select only one day per month per account to take yourdistribution.
3
Part 4. Automatic Liquidation (Optional)
Complete this section if you would like to fund your scheduled distribution by liquidating mutual funds in your account. To authorize
Merrill to automatically liquidate your eligible mutual funds, please complete the specified fields below (if additional space isneeded,
please attach a separate letter):
Only check this box if you are requesting automatic liquidations from your Merrill Managed Account.
Mutual Funds/Cash Security Symbol Percentage Amount
(Whole Numbers Only)
%
%
%
%
Total: 100%
Note:
••Liquidation will only occur from the funds you have authorized. If a selected fund does not have sufficient value to cover the allocated percentage, the order
will be restricted to 95% of the market value of the fund to minimize the risk of an order execution in excess of the available amount under volatile market
conditions. Theremaining unfulfilled amount will be liquidated proportionately from the other specified funds. If the amount is still unavailable, the system
will use available cash/cash equivalents to fulfill the distribution.
••Contingent deferred sales charges (CDSC), redemption fees and/or transaction fees may apply and result in insufficient funds to process the
requested distribution.
Part 5. Withholding Election
Important: Please read the Withholding Notice before completing this section. After reading the Notice, you MUST indicate your
withholding elections below.
If you are providing a U.S. address, please indicate your withholding election below.
Federal Withholding:
Please note that if you do not make a withholding election, federal income tax will be automatically withheld from your distribution
at a rate of 10%.
Do not withhold federal income tax from my distribution.
Withhold federal income tax from my distribution
(check one):
 At a rate of 10% At a rate of % (must be greater than 10%)
State Withholding:
Please note that state withholding may also be required in certain states. CA and VT state tax withholding is a percentage of the federal tax
withholding.* To determine your state’s withholding requirements, refer to the supplemental State Tax Withholding Rate Document.
The minimum required for the state of is .
Do not withhold state income tax from my distribution.
Withhold state income tax for the state of from my distribution (check one):
*
At the rate of %
Local Withholding:
Please note that local withholding may be applicable for the states of Indiana and New York.
If you are providing a foreign address, please indicate your withholding election below.:
Please note that if you are a U.S. citizen with a foreign address, you may not waive the federal withholding requirement. If you are
anonresident alien, all distributions are subject to a tax treaty rate or 30% tax withholding and you must complete Form W-8BEN.
I am a U.S. citizen living abroad
(check one) Withhold: At a rate of 10% At a rate of % (must be greater than 10%)
 At $ (dollar amount must be greater than 10% of total distribution value)
I am a nonresident alien (check one) Withhold: At a rate of 30% Tax Treaty rate of % Country
 At a rate of % (must be greater than 30%)
4
Part 6. Signature Authorization
Sign and date the form and return it to:
Merrill
P. O. Box 29002
Hot Springs, AR 71903
Or fax it to 866.994.7807
I hereby authorize Merrill to effect distributions from the Merrill IRA, IRRA, SEP IRA or SIMPLE IRA designated on this form in
the payment frequency indicated and inanamount that satisfies my annual RMD amount, as calculated by the Merrill RMD Service
forsaidaccount.
I hereby authorize Merrill to make my scheduled distributions forthe account described in Part 1 of this form, with income tax
withholding as elected, and to distribute the amount indicated after income tax withholding, if any.
I understand Merrill will not process a scheduled distributionif the dollar amount of the distribution is not available in one or a
combination of the following: cash credit balance, money market mutual fund shares or Retirement Asset Savings Program account
balance. I understand MerrillEdge® Self-Directed may offer different money markets than the Merrill Client Management. I agree it
is my responsibility to ensure that timely instructions are given to Merrill so such amounts are available to be distributed as scheduled.
Iagree if such amounts are not made available by me to meet ascheduled distribution, it is my responsibility to take any necessary
steps, including additional distributions to ensure I satisfy my RMD obligation for the account described in Part 1 of this form for the
year. If electing Automated Clearing House (ACH) distributions, Iauthorize the financial institution holding the bank account to accept
ACH transfers to my account without responsibility for the correctness thereof. I agree Merrill will not be liable for any loss, liability,
cost or expense for acting or failing to act upon my authorization, except to the extent required by applicable law. I authorize Merrill
toinitiate debit orcredit transfers to correct erroneous transfers to the extent permitted by law.
I understand if the distribution is made payable to a third party payee, I will be responsible for any taxes that are due as a result ofthese
requested or recurring distributions.
I have reviewed this form in its entirety, and hereby certify all information as it appears is correct and may be relied upon
bythecustodian.
Signature Date (month/day/year)
Withholding Notice
Federal income taxes are required to be withheld (subtracted) from your distribution at a flat rate of 10% unless you tell us you do not
want any taxes withheld. Keep in mind you may owe more or less when you file your income taxes. State income taxes will be withheld
according to the specific requirements of the state in which you reside. You must use this form to instruct us whether you want income
taxes withheld from distributions you will receive from your retirement account. Certain states require that you complete their state
form to opt out of state taxes when your distribution is subject to federal income taxes. To determine your state’s requirements,
please request a copy of the supplemental State Tax Withholding Rate document. Even if you elect to not have federal and state taxes
withheld from your distribution, you are liable for payment of federal and state income taxes on the taxable portion of your distribution.
How to choose not to have taxes withheld.
If you do not want any federal taxes withheld from your distributions, check the appropriate box in part 5 (Withholding Election).
Yourselection will also serve as anelection not to have state taxes withheld from your distributions. If you do want state taxes
withheld, check the appropriate box and indicate the applicable state withholding rates. Ifyou do not make an election, we will
assume you chooseto have federal and, if applicable, state incometaxes withheld from all distributions.
Changing your choice.
You can change your withholding election at any time or as often as you wish by completing the appropriate federal and state tax
withholding sections.
Estimated taxes.
Under Internal Revenue Service Rules, if you choose not to have federal income taxes withheld, or if the amount withheld from your
distribution is not sufficient, you may be responsible for paying estimated taxes each quarter. When your actual taxes for a year are
determined, you could incur IRS penalties if your estimated federal income tax payments were not sufficient. You may incur similar
taxes under state law.
5
1
Effective January 1, 2020, in accordance with new legislation, RMD age was raised from 70½ to age 72. If you were age 70½ or older as of December 31, 2019, you were required to
take an RMD for the 2019 tax year.
Merrill offers a broad range of brokerage, investment advisory and other services. There are important differences between brokerage and investment advisory services, including the
type of advice and assistance provided, the fees charged, and the rights and obligations of the parties. It is important to understand the differences, particularly when determining
which service or services to select.
© 2020 BankofAmerica Corporation. All rights reserved. | MAP3244692 | SHEET-09-20-0462 | 00-66-0045B | 09/2020
To learn about BankofAmerica’s environmental goals and initiatives, go to bankofamerica.com/environment. Leaf icon is a registered trademark of BankofAmerica Corporation.
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