Reporting And Notice

(1) Reporting. A statement listing the activity, selected investment options, and Redemption Value of the Account will be sent to the Account Owner periodically. The frequency of such statements will be set by the Board. If a payment has been made from an Account, the Board will report to the Beneficiary or the Account Owner, whichever is applicable, information about such payments to assist in determining that person’s tax liability. The report will be furnished by no later than January 31st of the calendar year following the calendar year in which the payment was made. Disclosure documents will also be prepared by the Treasurer and made available to the Account Owner prior to the Account Owner opening an Account. (2) Notice. Notice from the Program or Board, including but not limited to, Account statements, tax forms, and information about the Program, a Contract or an Account, may be in any form acceptable to the Board, which may include, but may not limited to, notice and reporting by electronic means.