Is there a balance required to avoid a custodial fee for an IRA CD?
A $15 annual custodial fee will be assessed to your IRA plan unless you meet one of the following waiver criteria: • You have a combined fair market value of at least $25,000 in all of your Union Bank IRA plans (excluding Small Business Retirement Plans1 and Coverdell Education Savings Accounts) on December 31 of the year for which the annual custodial fee is being charged • You make a minimum contribution of $4,000 to one or more of your Union Bank IRA plans (excluding Small Business Retirement Plans and Coverdell Education Savings Accounts) by December 31 of the prior year • You are age 70 or older by June 30 of the prior year
