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Hawthorn School District 73, Illinois Salary Reduction Authorization for 403(b) Annuity Contract or 403(b)(7) Custodial Accountable of Company No Load Account (No Agent Signature Required)Employees

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How to fill out custodial account - salary

01

Choose a financial institution that offers custodial accounts for minors.

02

Provide the necessary information about the minor, such as their name, date of birth, and social security number.

03

Deposit funds into the account, either through a one-time contribution or regular salary deposits.

04

Keep track of the account activity and manage investments on behalf of the minor.

05

Ensure that the funds in the account are used for the benefit of the minor.

Who needs custodial account - salary?

01

Parents or legal guardians who want to save and invest money on behalf of a minor child.

02

Employers who want to set up custodial accounts to deposit a portion of an employee's salary for their child.

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What is custodial account - salary?

A custodial account - salary is a financial account set up to hold and manage funds or assets for a beneficiary.

Who is required to file custodial account - salary?

The person or entity responsible for managing the funds or assets in the custodial account - salary is required to file.

How to fill out custodial account - salary?

To fill out a custodial account - salary, the required information such as beneficiary details, account activity, and any income earned on the account must be reported.

What is the purpose of custodial account - salary?

The purpose of a custodial account - salary is to provide a safe and organized way to manage funds or assets on behalf of a beneficiary.

What information must be reported on custodial account - salary?

Information such as account activity, income earned, and details of the beneficiary must be reported on a custodial account - salary.

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