What information must Invesco Aim Investment Services, Inc. (IAIS) provide?
As agent for the custodian, Invesco National Trust Co., IAIS must provide a nontechnical IRA Disclosure Statement to each employee who establishes an account. The statement must explain options for contributions and withdrawals, provisions on rollover distributions into another IRA and all tax implications of the IRA distributions. Rules pertaining to eligibility and deductions of contributions must also be outlined. Procedures for revoking the IRA, including the name, address and telephone number of the person who must receive notice of revocation, must be clearly stated. Finally, the statement must explain how to obtain financial information concerning earnings and sales-commission charges. Employees must also receive an annual account statement by Jan. 31 of the following year, or within 30 days of the last contribution for the plan year. IAIS will provide quarterly and annual statements to all employees.
