Frequently Asked Questions Individual Retirement Accounts

Transcription

1 Frequently Asked Questions Individual Retirement Accounts What is an IRA? IRA stands for Individual Retirement Arrangement. An IRA is a taxed deferred vehicle used to set aside assets for retirement. What is the difference between a Roth IRA and a Traditional IRA? One of the key differences between these types of IRAs is that in some cases contributions to Traditional IRAs can be deducted from your taxable income while this is never true for Roth IRAs. Another key difference is that distributions of deductible contributions from a Traditional IRA are taxed as income while qualified distributions from a Roth IRA are not taxed. For additional information regarding the differences between Traditional IRAs and Roth IRAs, please reference IRS Publication 590. What is a SEP IRA? A SEP, Simplified Employee Pension, is a written arrangement that allows small business owners to make deductible contributions for their own and their employee s benefit to a Traditional IRA. A SEP-IRA is owned and controlled by the employee, and the employer makes contributions to the financial institution where the SEP-IRA is maintained. For information on if you are eligible to setup a SEP plan for your employees or to obtain form IRS Form 5305-SEP please consult the IRS website Can I have both a Roth IRA and a Traditional IRA? Yes. However the combined amount being contributed to both types of accounts must not exceed that year s contribution limits. Who is eligible for a Traditional IRA? You are eligible to make contributions to a Traditional IRA if you (or, if you file a joint return, your spouse) received taxable compensation during the year, and you are not age by the end of the year. You and your spouse are required to open separate IRAs. Who is eligible for a Roth IRA? The IRS guidelines define who is eligible to contribute to a Roth IRA based on your modified Adjusted Gross Income and tax filing status. Please consult IRS Publication 590 for the most up to date income eligibility requirements. How much can I contribute to my IRA? The amount that can be contributed to your IRA is based upon IRS annual contribution limits. For Roth and Traditional, typically it is the smaller of the two amounts: $5,000 (or $6,000, if you are age 50 or older), or 100% of your taxable compensation for the year. The most that can be contributed to a SEP IRA is the smaller of $49,000 or 25% of the employee s compensation for year Are contributions tax deductible? Your contributions to a Traditional IRA may be deductible based on your modified Adjusted Gross Income ( AGI ), your age, and whether you and/or your spouse are covered by employer sponsored plans. For questions regarding tax treatment of IRA contributions please consult IRS Publication 590 and your tax advisor. What If I earned more than expected this year and no longer qualify for a Roth IRA but already made a contribution for this year? If you make a contribution to a Roth IRA, and then discover that your income will exceed the maximum allowed to contribute to a Roth IRA the amount contributed for that year can be recharacterized as a contribution for a Traditional IRA. If you elect to recharacterize a contribution, you must do so by your tax return due date (including extension). Can I convert my Traditional IRA to a Roth IRA? Yes. You can convert your Traditional IRA into a Roth IRA. You will be required to pay income taxes on the amount being converted in the year the assets are distributed from the Traditional IRA. Paperwork to convert your Traditional IRA to a BlackRock Roth IRA can be found in the Combined IRA Kit. Please consult with your tax advisor for additional information. Am I required to take money out of my IRA? You are not required to take money out of a Roth IRA. You are required to take a Required Minimum Distribution ( RMD ) from your Traditional IRA after you reach the age of years old. If you are the beneficiary of an IRA you may also be subject to RMDs. When can I take money out of my IRA? You can withdraw money from your IRA at any time. However any money you withdraw from a Traditional IRA before the age of may be subject to a 10% IRS penalty (in addition to taxes) unless it is being used for certain purposes. Roth contribution amounts can be withdrawn at any time, however, any money exceeding the amount made in contributions withdrawn from a Roth IRA prior to the age of may be subject to a 10% IRS penalty. Reasons for the penalty exemption can be found in the IRS publication 590. Additional Forms for your IRA: To take distributions from your BlackRock IRA, you will need the IRA Distribution Form. To transfer assets from another custodian to BlackRock, use the IRA Transfer of Assets/Direct Rollover Form. To convert Traditional IRA assets to a Roth IRA, use the Roth Conversion Form. To certify a rollover distribution from another IRA within 60 days of distribution, use the Rollover Certification Form. Where can I learn more about IRAs? The attached Custodial Agreement and Disclosure Statement have additional information about your BlackRock IRA. IRS Publication 590, available at or by calling the IRS, outlines the rules governing IRAs.

2 IRA Account Application (Traditional, Roth and SEP IRA) } All fields in Part 2 must be completed for each individual listed on the account, and will be verified as required by the USA PATRIOT Act. If any of these fields are not completed, it may delay or prevent us from opening your account. Send this completed and signed application to: } Regular Mail } Overnight Mail BlackRock Funds BlackRock Funds P.O. Box Computer Dr. Providence, RI Westborough, MA Section 1: Check Which Type of IRA You Would Like to Establish h Traditional IRA For individual IRA contributions which grow tax-deferred until a distribution is taken h Rollover IRA For qualified retirement assets only funds from a qualified retirement plan or another Rollover IRA h Roth IRA Similar to a Traditional IRA, however contributions are not tax-deductible and distributions may be tax free h SEP IRA A Traditional IRA in which your employer can make qualified contributions on your behalf (your employer must participate). SEP Agreement IRS Form 5305-SEP must be included. Section 2: Registration for the New Account (Participant Information) Please Print Shares are to be registered in the name(s) and address indicated below. You must provide either your home address or an APO/FPO Post Office. A post office box may be added for mailing purposes only. First name of IRA account owner M.I. Last name Federal tax identification or Social Security number Date of birth (month/day/year) First name of responsible individual (if IRA owner is a minor) M.I. Last name Federal tax identification or Social Security number Date of birth (month/day/year) Street Number Street Name City State Zip Code h Please use this address as the mailing address on my account: P.O. Box/Street Number Street Name City State Zip Code Address YES! I want to do my part to save paper, reduce my environmental impact and reduce expenses by turning off the paper. h Please sign me up for E-Delivery of Prospectus, Annual reports, Daily Confirmations and Mailing list items. (To sign up for E-Delivery of your quarterly account statements and tax forms, please log in to your account at Questions? } Call us toll-free at or visit us online at

3 Employer name (Required for SEP IRA accounts only) P.O. Box/Street Number Street Name City State Zip Code h I have included a copy of the IRS Form 5305-SEP, completed and signed by my employer Section 3: Purchases at NAV h I certify that I qualify for a sales charge waiver as stated in the Fund s prospectus (state reason here): Section 4: Investment Dealer Firm name NSCC dealer number Representative s first name M.I. Representative s last name Branch number Representative s number Telephone number Street Number Street Name City State Zip Code address Representative s signature Date (month/day/year) 3

4 Section 5: Investment Instructions Tell us which type of contribution, transfer or rollover you would like: Regular IRA Contribution for tax year: h Current Year: $ h Prior Year: $ SEP IRA only Employer Contribution: $ Other Source (check all that apply): ROLLOVER please attach the IRA Rollover Certification Form h 60 Day Rollover Check. Type of IRA or Qualified Plan being rolled over: h Direct Rollover from 401(k), 403(b), 457 or other Qualified Retirement Plan (excluding a Designated Roth Contribution Account) to a Traditional IRA h Direct Rollover from a Designated Roth Contribution Account to a Roth IRA h Qualified Rollover Contribution (conversion) into a Roth IRA from a 401(k), 403(b), 457 or other Qualified Retirement Plan TRANSFER OF ASSETS please attach a Transfer of Assets Form h Traditional or SEP IRA transfer of assets held at another institution h Roth IRA transfer of assets held at another institution CONVERSIONS OR RECHARACTERIZATIONS Enclosed is a h check or h Roth IRA Conversion Form h Roth conversion rollover from an IRA h Recharacterization contribution (the proceeds of a distribution from a traditional IRA or Roth IRA at another institution) Tell us how to allocate your investments: Please enclose your check made payable to BlackRock Funds. The minimum investment is $1, per fund (and may be lowered to $50.00 if you are making additional investments with an AIP you must complete section 7A); see the enclosed list for fund names. If a class of shares is not selected, the investment will be made in Investor A Shares (NOTE: If you do not have an Investment Dealer on your account, you may only invest in Investor A shares. Applications without an Investment Dealer that select Investor C shares will be returned to you.) Investor A shares are subject to a front-end sales charge, while Investor C shares are subject to a contingent deferred sales charge. Please review the prospectus for more detailed information. Fund Name Share Class Investment Amount A C h h $ c, c c c, c c c. c c or c c c % A C h h $ c, c c c, c c c. c c or c c c % A C h h $ c, c c c, c c c. c c or c c c % A C h h $ c, c c c, c c c. c c or c c c % A C h h $ c, c c c, c c c. c c or c c c Total Amount to Invest $ c, c c c, c c c. c c =100% (Must include an estmated amount) The Fund reserves the right, in its sole discretion, to suspend the offering of shares of the funds or to reject purchase orders when, in the judgment of management, such suspension or rejection is in the best interest of the Fund; to modify or waive the minimum initial or subsequent investment for certain investors; and to redeem shares if information provided in this New Account Application should prove to be incorrect in any material manner (e.g., in a manner such as to render the shareholder ineligible to purchase shares of the fund). Shares will not be offered or sold in any jurisdiction to any person to whom it would be unlawful to make such offer or sale in such jurisdiction. 4

5 Section 6: Beneficiary Selection Note the share percentage must equal 100% for all Primary or all Contingent Beneficiaries. If neither the Primary nor the Contingent Beneficiary box is checked, the beneficiary will be deemed to be a Primary Beneficiary. If a trust is designated as a Beneficiary, please provide both the date of the trust and the name(s) of the trustee(s). In the event of my death, the balance in the account shall be paid to the Primary Beneficiaries who survive me in equal shares (or in the specified shares, if indicated). If none of the Primary Beneficiaries survive me, the balance in the account shall be paid to the Contingent Beneficiaries who survive me in equal shares (or in the specified shares, if indicated). I understand that, unless I have specified otherwise, if I name multiple Primary Beneficiaries and a beneficiary does not survive me, such interest is terminated and that percentage will be divided proportionately among the remaining Primary Beneficiaries. Similarly, unless I have specified otherwise, if no Primary Beneficiary survives me and I have named multiple Contingent Beneficiaries and a beneficiary does not survive me, such interest is terminated and that percentage will be divided proportionately among the remaining Contingent Beneficiaries. I understand that I may change my beneficiaries at any time by giving written notice to the Custodian. If I do not designate a beneficiary, or if all designated beneficiaries predecease me, my surviving spouse will become the beneficiary of my IRA. If I do not have a surviving spouse at the time of my death, my estate will become the beneficiary of my IRA. Per Stirpes Beneficiary Designations: The Custodian shall accept as complete and accurate all written instructions provided in good order by the estate/ executor with regard to the identification of the beneficiaries and the allocations thereto. Participant s Designation: In the event of my death, I hereby designate the following individuals as the Primary and Contingent Beneficiary(ies) to receive all benefits that may become due and payable under my IRA. If I name a beneficiary that is a Trust, I understand that I must provide certain information concerning the Trust to the Custodian. Choice A h Primary h Contingent Relationship: Percentage: % First name M.I. Last name OR Name of trust, foundation or other legal entity; name of responsible individual (if beneficiary is a minor) Social Security number (or tax ID of trust, foundation, etc) Date of birth (or Date of Trust, if beneficiary is a trust) Choice B h Primary h Contingent Relationship: Percentage: % First name M.I. Last name OR Name of trust, foundation or other legal entity; name of responsible individual (if beneficiary is a minor) Social Security number (or tax ID of trust, foundation, etc) Date of birth (or Date of Trust, if beneficiary is a trust) Choice C h Primary h Contingent Relationship: Percentage: % First name M.I. Last name OR Name of trust, foundation or other legal entity; name of responsible individual (if beneficiary is a minor) Social Security number (or tax ID of trust, foundation, etc) Date of birth (or Date of Trust, if beneficiary is a trust) Note: Consent of the Participant s spouse may be required in a community property or marital property state to effectively designate a beneficiary other than, or in addition to, the Participant s spouse. Disclaimer for Community and Marital Property States: The Participant s spouse may have a property interest in the account and the right to dispose of the interest by will. Therefore, any sponsors, issuers, depositories and other persons or entities associated with the investments and the Custodian specifically disclaim any warranty as to the effectiveness of the Participant s beneficiary designation or as to the ownership of the account after the death of the Participant s spouse. For additional information, please consult your legal advisor. I consent to the Beneficiary Designation. Signature of spouse Date (month/day/year) 5

6 Section 7: Options ALL dividend and capital gains options will be set to reinvest. If you wish to take these distributions in cash, you must provide us with an IRA Distribution Form. A. AUTOMATIC INVESTMENT PLAN (AIP) The Automatic Investment Plan (AIP) permits investments in BlackRock Fund account(s) on a periodic basis. BNY Mellon Investment Servicing Trust Company will periodically electronically debit your financial institution checking account or non-passbook savings account and credit your BlackRock Fund account(s) on the specific date you select (e.g., May 12). If you do not provide a specific date, the AIP transaction will occur on the 15th of the month. Minimum initial and subsequent investment is $50 per fund. The Automatic Investment Plan cannot be used in conjunction with the Systematic Withdrawal Plan. A savings and loan or credit union may not be able to honor electronic debits. Please check with your financial institution. Fund Name Investment Amount Frequency $ c, c c c, c c c. c c $ c, c c c, c c c. c c $ c, c c c, c c c. c c h Bi-weekly h Monthly h Semiannual h Quarterly h Annual $ c, c c c, c c c. c c Total: $ My contribution to the funds marked above will take place on the (i.e. 15th) of the month, beginning in the month of (i.e. April). If you do not indicate a date of the month, then we will default to the 15th of the month. For SEP IRA only: h Personal IRA contribution or h Employer contribution To utilize the AIP on your account, you must complete the EZ Trader section below. B. EZ TRADER Allows you to purchase or sell fund shares by telephone or over the Internet through the Automated Clearing House (ACH) network. Note: Your bank must be a member of the ACH. A savings and loan or credit union may not be able to honor electronic debits. Please check with your financial institution. Bank account holder s first name M.I. Last name Name of bank Account number Routing number (ABA number) h Checking h Savings Attach a voided check, personalized savings deposit slip or bank statement below. John A. Sample 123 Same Street Anywhere, USA /4556 PAY TO THE ORDER OF $ Any Bank USA Memo DOLLARS Routing Number Account Number For SEP IRA only: If the bank account is not in the name of the IRA account owner, the bank account owner/authorized signer must sign below: Bank account holder s name 6 Signature of bank account owner or authorized party

7 Section 7: Options (continued) C. REDUCED SALES CHARGE Using Rights of Accumulation and/or Letter of Intent, the investor(s) should meet the following breakpoint level (check one): h $25,000 h $50,000 h $100,000 h $250,000 h $500,000 h $1,000,000 h Rights of Accumulation (ROA) I apply for Rights of Accumulation, under which the current value of my existing holdings of BlackRock Funds and the BlackRock CollegeAdvantage 529 Program (subject to the Agent s confirmation of the following holdings) may be combined with the amount of the current purchase to qualify for a breakpoint and reduced sales charge in Investor A Shares. h Letter of Intent (LOI) I agree to the Letter of Intent provisions of the prospectus. Although I am not obligated to purchase, and the Fund is not obligated to sell, I intend to invest an aggregate amount in the BlackRock Funds at least equal to the amount checked above, over a 13-month period beginning on. Please note: purchases made prior to the start date of the LOI are not counted toward the breakpoint. Date (month/day/year) List Portfolio account numbers to be linked for the reduced sales charge. Please list accounts held directly with BlackRock as well as any BlackRock funds in accounts held through a financial intermediary that you wish to combine for Rights of Accumulation or Letter of Intent. *Please note: accounts held through a financial intermediary may not be visible to BlackRock; therefore we may not be able to link the accounts. If you wish to include assets in BlackRock Funds held through a financial intermediary, you must include the most recent statement detailing the holdings in BlackRock Funds from the financial intermediary. For Letter of Intent, the statement must show all purchases made during the 13-month Letter of Intent period. Please call us with any questions prior to submitting this application. BlackRock account number Brokerage account number* Registration of account BlackRock account number Brokerage account number* Registration of account BlackRock account number Brokerage account number* Registration of account D. TELEPHONE REDEMPTION AND EXCHANGE h NO, I do not want to have Telephone Redemption or Exchange on my account Your account will automatically be coded with the Telephone Redemption and the Telephone Exchange Privileges, unless you check the No box above. As a shareholder, you have the right to exchange Investor A, B or C Shares from one fund to shares of the same class (Investor A, B or C Shares, respectively) in another open fund to meet your changing financial needs. You may also redeem your shares via the telephone, as long as the request follows the rules set forth in the Fund s prospectus. It is understood that neither BNY Mellon Investment Servicing nor BlackRock Funds will be liable for any loss, liability, cost or expense for acting upon telephone requests reasonably believed to be genuine. The same registration and address will be used as listed on this form under Registration. The Fund reserves the right to modify, limit the use of, or terminate the privilege at any time, and may suspend or terminate your privilege if it believes, in its sole discretion, that you are engaging in market-timing or other inappropriate trading activities. E. TAX WITHHOLDING ON REDEMPTIONS Generally, IRA distributions are subject to 10% withholding unless you elect to have an additional amount withheld or elect to have no withholding. Any distributions from your account will be subject to 10% withholding, unless you select one of the following choices: h I elect not to withhold federal income taxes from my distributions h I elect to withhold % for federal income taxes (must be greater than 10%) Caution: Even if you elect not to have federal income taxes withheld, you are liable for payment of federal income tax on the taxable portion of your distribution. Contact your financial professional or tax preparer with any questions. 7

8 Section 8: Signature I, the Participant, acknowledge receiving and reading the Traditional and Roth IRA Application and Adoption Agreement Instructions, the Traditional IRA and Roth IRA Combined Disclosure Statement, the Traditional IRA Custodial Account Agreement, the Roth IRA Custodial Account Agreement and the Privacy Notice (the Account Documents ). I acknowledge receiving and reading the current prospectus for each Mutual Fund I may have designated for investment. The Custodian, upon proper instructions from me, is authorized to exchange a Mutual Fund for any other Mutual Fund and to purchase a Mutual Fund with the proceeds of any redemption. I agree that this IRA becomes effective only upon written acceptance by the Custodian and that such written acceptance will consist of a confirmation of transaction statement. I agree that the Custodian may amend (add to, delete from or revise) any term of the Agreement at any time by notice to me and that my sole remedy if I disagree with the amendment is to transfer funds in the IRA Account to another custodian. I agree that the Agreement is binding on me and on my successors in interest. Each contribution to my IRA will be invested in accordance with the written instructions I provide with respect to that contribution. In the event that this is a rollover contribution, the undersigned hereby irrevocably elects, pursuant to the requirements of Section 1.402(a)(5)-1T of the IRS regulations, to treat this contribution as a rollover contribution. Custodial Fees: $15.00 annual maintenance fee per fund account per year. This fee is owed and due for each full and partial calendar year that the IRA Account is open. The participant may pay the fee with funds other than those in the IRA Account ( non-custodial funds ). If the fee for a calendar year is not paid by the participant from non-custodial funds by the date reasonably designated by the Custodian or prior to closing the IRA Account, the Custodian is authorized to deduct the fee from funds in the IRA Account at any time immediately after such payment due date or immediately after receiving instructions to close the IRA Account. The Custodian is authorized to change the fee but will give at least 30 days written notice to the participant of any fee change. The Custodian will keep those records, identify and file returns and provide other information concerning the IRA as required of custodians by the Internal Revenue Code and any regulations issued or forms adopted by the Internal Revenue Service or U.S. Treasury Department. I direct that all benefits upon my death be paid as indicated on the beneficiary designation. If I named a beneficiary that is a Trust, I understand I must provide certain information concerning such Trust to the Custodian. I (the Participant) certify under penalties of perjury that (i) all information I have provided on this form or otherwise in connection with establishing my IRA is true, correct, and complete, and (ii) I am a US person (including a US resident alien) and that my Social Security Number is true, correct and complete and that this number is my Taxpayer Identification Number. To help the U.S. Government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies persons opening accounts; To comply, the Custodian requires the participant s name, address, date of birth and government-issued identification number (generally, a Social Security Number) and other information that may help the Custodian identify the participant; and the Custodian may ask for copies of related documentation and may consult third-party databases to help verify the participant s identity. I have read and I understand the Disclosure Statement which explains the risks of opening this account if I do not provide all requested identification materials or if my identity cannot be adequately verified in accordance with U.S. Government requirements. Participant s Signature (Or responsible Individual in the case of a minor IRA) Date (month/day/year) IRA Custodian: BNY Mellon Investment Servicing Trust Company (formerly PFPC Trust Company, renamed effective July 1, 2011). } All fields in Part 2 must be completed and will be verified as required by the USA PATRIOT Act. If any of these fields are not completed, it may delay or prevent us from opening your account. } Be sure to include any additional forms, if necessary, such as the IRA Rollover Certification, Roth IRA Conversion Request Form or IRA Transfer of Assets/Direct Rollover Form with your application. Send this completed and signed application to: } Regular Mail } Overnight Mail BlackRock Funds BlackRock Funds P.O. Box Computer Dr. Providence, RI Westborough, MA BlackRock, Inc. All Rights Reserved. Lit. No. IRA-APP-0711 F

9 BlackRock Fund List Mixed Asset Funds Asset Allocation Balanced Capital Global Allocation Income Fund US Equity Basic Value Capital Appreciation Equity Dividend Focus Growth Focus Value Index Equity Large Cap Core Large Cap Core Plus Large Cap Growth Large Cap Value Mid-Cap Growth Equity Mid-Cap Value Equity Mid-Cap Value Opportunities Russell 1000 Index S&P 500 Index Small Cap Growth Equity Small Cap Growth II Small Cap Index Small/Mid-Cap Growth US Opportunities Value Opportunities World Equity ACWI Ex-US Index Global Dividend Income Global Dynamic Equity Global Emerging Markets Global Growth Global Opportunities Global SmallCap International International Index International Opportunities International Value World Gold Fund Sector All-Cap Energy & Resources Energy & Resources Healthcare Health Sciences Opportunities Natural Resources Science & Technology Opportunities Utilities and Telecommunication Regional China EuroFund India Latin America Pacific Fixed Income: Taxable Bond Index Core Bond Emerging Market Debt Floating Rate Income GNMA High Income High Yield Bond Inflation Protected Bond International Bond Long Duration Bond Low Duration Bond Multi-Sector Bond Strategic Income Opportunities Total Return U.S. Government Bond U.S. Mortgage World Income Fixed Income: Municipal California Municipal High Yield Municipal Intermediate Municipal National Municipal New Jersey Municipal New York Municipal Pennsylvania Municipal Short-Term Municipal Lifecycle/Target Date Aggressive Growth Prepared Portfolio Conservative Prepared Portfolio Growth Prepared Portfolio Lifecycle Prepared Portfolio 2015 Lifecycle Prepared Portfolio 2020 Lifecycle Prepared Portfolio 2025 Lifecycle Prepared Portfolio 2030 Lifecycle Prepared Portfolio 2035 Lifecycle Prepared Portfolio 2040 Lifecycle Prepared Portfolio 2045 Lifecycle Prepared Portfolio 2050 LifePath 2020 LifePath 2025 LifePath 2030 LifePath 2035 LifePath 2040 LifePath 2045 LifePath 2050 LifePath 2055 LifePath Index 2020 LifePath Index 2025 LifePath Index 2030 LifePath Index 2035 LifePath Index 2040 LifePath Index 2045 LifePath Index 2050 LifePath Index 2055 LifePath Index Retirement Fund LifePath Retirement Fund Moderate Prepared Portfolio Money Market Funds Money Market Municipal Money Market NC Municipal Money Market NJ Municipal Money Market OH Municipal Money Market PA Municipal Money Market U.S. Treasury Money Market VA Municipal Money Market Available funds as of July 2011.

10 New Account Application Checklist Questions? Call us toll-free at or visit us online at Send this completed and signed application to: } Regular Mail } Overnight Mail BlackRock Funds BlackRock Funds P.O. Box Computer Dr. Providence, RI Westborough, MA To ensure that we are able to establish your account accurately, we recommend that you use this checklist to help you to complete the account application. You should have a discussion with your financial advisor prior to making your investment decisions. All Account Types h Review the account Registration section to make sure that all fields were completed for each individual listed on the account. If any of the fields are not completed, or if the information cannot be verified, this application will be returned to you (as required by the USA PATRIOT Act). h If you are investing by check, be sure that the check is made payable to BlackRock Funds, and that the check is in good order (completed correctly, signed, etc. Temporary or starter checks may not be accepted). h Review your investment allocation to ensure the correct fund names are listed, the allocation is accurate (and equals the amount of the investment), and that the investments in each fund meet the minimum investment amount. Non-retirement Accounts h If you are establishing a trust account, please include a copy of the first, last & signature pages, as well as any pages that list the names of any trustees, co-trustees, or successor trustees. We do not need every page of the trust document. h If you are establishing a corporate or any type of business account, you should provide a copy of a corporate resolution, certificate of incumbency or other document listing who is authorized to sign. h Requesting Checkwriting? Be sure to sign the Checkwriting section and indicate how many signatures will be required to accept a check. You are now ready to mail your completed application (and any other paperwork) to BlackRock to open your account! h Have your Financial Advisor complete and review the Investment Dealer section. h Review your Social Security number / taxpayer identification number for accuracy. If this number is incorrect, it may affect your tax reporting. h Sign up for E-Delivery! Save paper, reduce costs and minimize your mailings by signing up for E-Delivery of your statements, reports, confirmations, etc. h Be sure that each individual listed on the account has signed the application in the Signature section. IRA Accounts h Verify that you are eligible to fund an IRA. Please review IRS eligibility guidelines in the FAQ and the Disclosure Statement, or by talking with your financial advisor. h If you are funding your account with a rollover or transfer of assets from another custodian, be sure to complete and attach the IRA Transfer of Assets/Direct Rollover Form or Rollover Certification Form. h If you are funding with a contribution, please verify that the contribution amount does not exceed the maximum IRA contribution for the year your investment is being made. h IRA contributions should be clearly marked Current Year or Prior Year (prior year contributions must be made on or before the tax filing deadline). h Review the Beneficiary Selection to ensure all fields are completed and the allocation equals 100% BlackRock, Inc. All Rights Reserved. Lit. No. APP-CHKLST-0711 F

11 IRA Transfer of Assets/ Direct Rollover Request Form Use this form to request an IRA transfer of assets or a Direct Rollover from an existing retirement plan to your IRA at BlackRock. Based on your instructions, BNY Mellon Investment Servicing Trust Company will initiate the transfer or rollover for you. } You should not use this form for qualified rollover contributions (conversions) to a Roth IRA } If you are over age 70½, you are responsible for any required minimum distributions from your current retirement plan Send this completed and signed application to: } Regular Mail } Overnight Mail BlackRock Funds BlackRock Funds P.O. Box Computer Dr. Providence, RI Westborough, MA Section 1: Account Owner Information First name of IRA account owner M.I. Last name Federal tax identification or Social Security number Date of birth (month/day/year) Home telephone Business telephone Section 2: Investment Instructions Please tell us about your transfer or rollover (check all that apply): h I am opening a new IRA and have attached the required IRA Application. h Please deposit the proceeds into my existing BlackRock IRA, account number: h IRA Transfer of Assets (like accounts)* h Direct Rollover from a Qualified Plan to an IRA h Direct Rollover from a 403(b) or 457 to an IRA * SEP and SIMPLE (after the required 2-year holding period) IRAs can be transferred into a Traditional IRA. Direct Rollover Notice If this contribution is a direct rollover from a qualified plan, 403(b), or 457 plan, I understand that by signing page 2 of this form, I am acknowledging that the direct rollover contribution is an irrevocable election and is no longer eligible for special tax treatment which may be accorded to distributions from a qualified plan, 403(b), or 457 plan. You should contact your current plan administrator or custodian prior to completing this form to ensure that you have received and completed any in-house forms that they may require. Direct rollovers from a qualified plan to an IRA can only be in the form of cash. Please indicate the type of account transferring into: h Traditional IRA h Rollover IRA h SEP IRA h Roth IRA h SIMPLE IRA Questions? } Call us toll-free at or visit us online at

12 Section 2: Investment Instructions (continued) Please invest the proceeds as follows: Note: The minimum investment is $1, per fund (and may be lowered to $50.00 if you are making additional investments with an Automatic Investment Plan). To avoid processing delays, please indicate the estimated total amount of the transfer below. Fund Name Investment Amount Percentage $ c, c c c, c c c. c c c c c % $ c, c c c, c c c. c c c c c % $ c, c c c, c c c. c c c c c % $ c, c c c, c c c. c c c c c % $ c, c c c, c c c. c c c c c % $ c, c c c, c c c. c c c c c % Estimated total amount (required): $ c, c c c, c c c. c c = 100% Section 3: Current Custodian and Account Information Please indicate the type of account transferring from (check one): Please attach your most recent statement from your current custodian. h Traditional/Rollver IRA h Roth IRA h SEP IRA h 403(b) h 457 h Qualified Plan* h SEP IRA that is being transferred into a Traditional IRA h SIMPLE IRA (after the required 2-year holding period) that is being transferred into a Traditional IRA * If you are rolling over a qualified plan, please contact your current plan administrator for any distribution/rollover requirements. Current Custodian Information Name of Current Custodian Contact telephone number P.O. Box/Street Number Street Name City State Zip Code First name of IRA account owner M.I. Last name 2

13 Section 3: Current Custodian and Account Information (continued) Please liquidate and transfer: h Entire Account h Partial Amount: $ or # of shares h % of account Account number at current custodian Account number at current custodian OR Transfer In-Kind: Please transfer my existing BlackRock funds held in the account numbers below to the new / existing BlackRock IRA (in Section 2). Account number at current custodian OR ALL IRA accounts (of the type checked above) under this Social Security number Account number at current custodian For Certificates of Deposit: h Immediately* h Upon maturity (submit 30 days prior) Account number at current custodian Maturity date (month/day/year) * Note: If you wish to have Certificates of Deposit transferred immediately and they have not matured, you may incur a penalty. We cannot accept requests to transfer Certificates of Deposit more than 60 days before maturity. Section 4: Signature and Authorization I authorize the transfer of assets or direct rollover as noted above to my BlackRock IRA and authorize my current custodian, BlackRock Funds and BNY Mellon Investment Servicing Trust Company, to process this request on my behalf. I understand it is my responsibility to ensure the prompt transfer of assets or direct rollover by the current custodian. I have read and understand all information on this form and hereby provide the applicable authorization. Signature of IRA Owner Date (month/day/year) Medallion Guarantee: (Please place medallion guarantee stamp here) A medallion guarantee may NOT be obtained through a notary public. Medallion Signature Guarantee Stamp and Signature (If required by your current custodian or transfer agent): An eligible guarantor is a domestic bank or trust company, securities broker/dealer, clearing agency or savings association that participates in a medallion program recognized by the Securities Transfer Agents Association. The three recognized medallion programs are the Securities Transfer Agents Medallion Program (known as STAMP), Stock Exchanges Medallion Program (SEMP), and the Medallion Signature Program (MSP). A notarization from a notary public is NOT an acceptable substitute for a signature guarantee. 3

14 2011 BlackRock, Inc. All Rights Reserved. Lit. No. IRA-APP-TOA-0611 F

15 IRA Rollover Certification Form Use this form to certify that a contribution is an eligible rollover contribution. } This form is not intended for initiating rollovers from IRAs or employer sponsored plans; please use the IRA Transfer of Assets/Direct Rollover Form to request a transfer or rollover. Send this completed and signed application to: } Regular Mail } Overnight Mail BlackRock Funds BlackRock Funds P.O. Box Computer Dr. Providence, RI Westborough, MA Section 1: Account Owner Information First name of IRA account owner M.I. Last name Federal tax identification or Social Security number Home telephone BlackRock IRA account number (If new account, provide tax identification or Social Security number above) Section 2: Type of Rollover Contribution Traditional Rollover h Traditional IRA Rollover This is a distribution of all or part of my account balance from another traditional IRA which is being rolled over within 60 days of receipt. I understand that 365 days must have passed since I last received a rollover distribution from the distributing traditional IRA. h IRA Eligible Rollover Distribution This is a non-periodic distribution from my employer s qualified retirement plan of all or part of my account balance, other than the portion of any distribution which is nontaxable, which is being rolled over within 60 days of receipt. (Your employer s plan administrator should be able to tell you what portion of your distribution is an eligible distribution.) I certify that no portion of this rollover is from any portion of a Designated Roth Contribution Account under my employer s qualified retirement plan or from any amount required to be distributed under Internal Revenue Code Sections 408(a)(6) and 401(a)(9), commonly known as a required minimum distribution. SIMPLE IRA h SIMPLE IRA Rollover The investment is an eligible SIMPLE IRA rollover contribution being rolled over within 60 days of receipt, and includes only SIMPLE IRA assets. Questions? } Call us toll-free at or visit us online at

16 Roth Rollover h Roth IRA Rollover This is a distribution of all or part of my account balance from another Roth IRA which is being rolled over within 60 days of receipt. I understand that 365 days must have passed since I last received a rollover distribution from the distributing Roth IRA. h Qualified Rollover Contribution (conversion) into a Roth IRA from a 401(k), 403(b), 457 Plan or other Qualified Plan This is a distribution from my employer s retirement plan paid as a direct rollover contribution (conversion) into a Roth IRA. h Designated Roth Contribution Account This is a h direct rollover or a h 60-day rollover from my Designated Roth Contribution Account under my employer s qualified retirement plan. This rollover represents all or a portion of my Designated Roth Contribution Account under the employer s qualified retirement plan and no other source of money under the employer s qualified retirement plan is being rolled over to my Roth IRA. h Military Death Gratuity Payment This rollover contribution is less than $100,000 and is being made within 365 days of receipt. h Servicemember s Group Life Insurance (SGLI) This rollover contribution is less than $400,000 and is being made within 365 days of receipt. Section 3: Signature and Certification I certify that the contribution described above is an eligible IRA rollover contribution. I certify that this contribution is being rolled over within 60 days of receipt or is being rolled directly from my employer s plan or current custodian and meets the requirements for tax law provisions, as described above. I certify that the rollover is not part of a series of payments over my life expectancy or over a period of 10 years or more. The rollover does not include any required minimum distribution, hardship distribution, corrective distribution, or deemed distribution from the employer s qualified retirement plan. I understand that this rollover contribution is irrevocable and involves important tax considerations. Specifically, I understand that a rollover contribution from a pre-tax qualified retirement plan will no longer be eligible for the special averaging, capital gains and separate tax treatment that may be available under my employer s plan. I agree that I am solely responsible for all tax consequences. I also agree that neither the Custodian nor BlackRock Funds shall have responsibility for any such tax consequences or any consequences resulting from this amount being ineligible for rollover. Rules regarding rollovers, and their tax implications, are complex. Please refer to IRS Publication 590 or a professional tax advisor for more information. I have read this form and understand and agree to be legally bound by the terms of this form. I also understand that the Custodian will rely on my instructions within this form when accepting my rollover contribution. Signature of IRA account owner Date (month/day/year) 2011 BlackRock, Inc. All Rights Reserved. Lit. No. IRA-ROLL-CERT-0611 F

17 Roth IRA Conversion Request Form Use this form to convert a Traditional, SEP or SIMPLE IRA held at BlackRock to a BlackRock Roth IRA, or to request a conversion of a Traditional, SEP or SIMPLE IRA from another custodian or trustee to a BlackRock Roth IRA. } This form is not intended for initiating conversions from employer sponsored plans; 401(k) or 403(b) plans (contact your plan administrator for instructions) } If establishing a new Roth IRA, please attach a completed & signed BlackRock IRA Application. Send this completed and signed application to: } Regular Mail } Overnight Mail BlackRock Funds BlackRock Funds P.O. Box Computer Dr. Providence, RI Westborough, MA Roth IRA Conversion Between BlackRock Individual Retirement Accounts Use this part of the form to convert a traditional, SEP or SIMPLE (after the required two year holding period) IRA within BlackRock Funds. If establishing a new Roth IRA, attach a completed Blackrock Individual Retirement Account Application. Beginning in 2010, there are no eligibility requirements for converting a traditional, SEP or SIMPLE IRA into a Roth IRA under the Tax Increase Prevention and Reconciliation Act of 2006 ( TIPRA ). You should consult your tax advisor or the Internal Revenue Service (IRS) web site for more information. Section 1: Account Owner Information First name of IRA account owner M.I. Last Name Federal tax identification or Social Security number Home telephone Street Number Street Name City State Zip Code Section 2: Distribution Instructions Indicate below the existing BlackRock Funds IRA you wish to convert to a BlackRock Funds Roth IRA: Existing BlackRock IRA Account Number: Type of Account: h Traditional / Rollover IRA h SEP IRA h SIMPLE IRA (after the required two year holding period) Amount: h Distribute entire account balance across all funds, (or) h Partial account conversion: $ from: Fund Name Investment Amount $ c, c c c, c c c. c c or c c c % $ c, c c c, c c c. c c or c c c % $ c, c c c, c c c. c c or c c c % $ c, c c c, c c c. c c or c c c % Must Equal 100%

18 Section 3: Tax Withholding Election IRS regulations require the custodian or trustee of your IRA to withhold federal income taxes from the conversion distribution at the rate of 10% unless you elect not to have withholding apply. Withholding will apply to the entire amount of the conversion distribution, including the amount of any nondeductible contributions that may have been made to the IRA. You may not convert any portion of Required Minimum Distributions (RMDs). Please make an election: h I elect NOT TO have federal income tax withheld from this conversion distribution from my traditional IRA. This option is only available for accounts registered with an address in the United States. h I elect TO have 10% federal income tax withheld from this conversion distribution from my traditional IRA. h I elect TO have (must be more than 10%) % federal income tax withheld from this conversion distribution from my traditional IRA. Important: If you elect to have federal income taxes withheld, you may still invest the entire amount of the conversion distribution into your BlackRock Funds Roth IRA by using other assets to replace amounts withheld as a prepayment of federal income taxes. Remember, if you use your IRA assets to pay taxes on the conversion distribution amount (either by liquidating additional shares or by not replacing amounts withheld for federal income tax), the IRA assets used to pay those taxes may be considered a premature distribution (if you are under the age of 59 ½) since they are not being converted into the Roth IRA or rolled over into another IRA and you could also be subject to a 10% early withdrawal penalty. Section 4: Investment Allocation h New Roth IRA follow the investment instructions as provided on the attached application. h Invest the proceeds as follows into my existing Roth IRA: Fund Name Account Number: Investment Amount $ c, c c c, c c c. c c or c c c % $ c, c c c, c c c. c c or c c c % $ c, c c c, c c c. c c or c c c % $ c, c c c, c c c. c c or c c c % Must Equal 100% Section 5. Signature and Authorization I authorize BlackRock Funds and the Custodian to make the above requested distribution from my traditional IRA and use the distribution proceeds to purchase a conversion contribution into a Roth IRA. I certify that no tax or legal advice has been given to me by the Custodian, BlackRock Funds, or any agent of either of them, and that all decisions regarding the elections made on this form are my own. The Custodian may conclusively rely on this certification and authorization without further investigation or inquiry. I expressly assume responsibility for any adverse consequences which may arise from the election and agree that the Custodian, BlackRock Funds, and their agents shall in no way be responsible, and shall be indemnified and held harmless, for any tax, legal or other consequences of the election made on this form. I understand this conversion is irrevocable. I have read and understand and agree to be legally bound by the terms of this form. Signature of IRA account owner Date (month/day/year) 2

19 Roth IRA Conversion From Another Institution to a BlackRock Roth IRA Use this part of the form to convert a traditional, SEP or SIMPLE (after the required two year holding period) Individual Retirement Account ( IRA ) from another custodian or trustee to a BlackRock Funds Roth IRA. If establishing a new Roth IRA, attach a completed BlackRock Individual Retirement Account Application. This form is not intended for initiating conversions from employer sponsored plans; 401(k) or 403(b) plans (contact your plan s administrator for instructions). Beginning in 2010, there are no eligibility requirements for converting a traditional, SEP or SIMPLE IRA into a Roth IRA under the Tax Increase Prevention and Reconciliation Act of 2006 ( TIPRA ). You should consult your tax advisor or the Internal Revenue Service (IRS) web site for more information. Send this completed and signed application to: } Regular Mail } Overnight Mail BlackRock Funds BlackRock Funds P.O. Box Computer Dr. Providence, RI Westborough, MA Section 1: Account Owner Information First name of IRA account owner M.I. Last Name Federal tax identification or Social Security number Home telephone Section 2: Investment Allocation h New Roth IRA follow the investment instructions as provided on the attached application. h Invest the proceeds as follows into my existing Roth IRA: Fund Name BlackRock Account Number: Investment Amount Section 3: Tax Withholding Election $ c, c c c, c c c. c c or c c c % $ c, c c c, c c c. c c or c c c % $ c, c c c, c c c. c c or c c c % $ c, c c c, c c c. c c or c c c % Must Equal 100% IRS regulations require the custodian or trustee of your IRA to withhold federal income taxes from the conversion distribution at the rate of 10% unless you elect not to have withholding apply. Withholding will apply to the entire amount of the conversion distribution, including the amount of any nondeductible contributions that may have been made to the IRA. You may not convert any portion of Required Minimum Distributions (RMDs). Please make an election: h I elect NOT TO have federal income tax withheld from this conversion distribution from my traditional IRA. This option is only available for accounts registered with an address in the United States. h I elect TO have 10% federal income tax withheld from this conversion distribution from my traditional IRA. h I elect TO have (must be more than 10%) % federal income tax withheld from this conversion distribution from my traditional IRA. Important: If you elect to have federal income taxes withheld, you may still invest the entire amount of the conversion distribution into your BlackRock Funds Roth IRA by using other assets to replace amounts withheld as a prepayment of federal income taxes. Remember, if you use your IRA assets to pay taxes on the conversion distribution amount (either by liquidating additional shares or by not replacing amounts withheld for federal income tax), the IRA assets used to pay those taxes may be considered a premature distribution (if you are under the age of 59½) since they are not being converted into the Roth IRA or rolled over into another IRA and you could also be subject to a 10% early withdrawal penalty. 3