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Form 5305-SA Bridgeport Connecticut: What You Should Know

Administrative Code.) The custodian must provide written and electronically filed notices to the account owner and a copy to the other party when it is closed. The account owner must provide a copy of the notice to the custodian along with an acknowledgment that the notice has been given. The custodian must retain the acknowledgment as proof of notice and must provide it to the owner of the closed account. The custodian may also retain for future administrative use a copy of the notice and the acknowledgment provided by the owner. A custodian is required to comply with any notices to the accounts' owner. The custodian must provide the account owner notice to the extent that the notice conflicts with the custodial agreement and if the notice is given with the knowledge that the account can be closed at any time. The account agreement must be available on the account owner's web page for viewing by both parties and must be posted on the custodian's web page when the agreement is signed. The custodian must provide notice to the owner if the account is to close before the closing date. The administrator or custodian must maintain the account owner's account until the closing date in an electronic file available for viewing by both parties. The custodian must keep records of all the account owner's transactions and provide the account owner with notice. Form 5305-SA. (March 2002).

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