Merger Amendment Mailing Documents

If your organization goes through a merger, you may need to provide amendments to the merging organization's account owners to reflect new language in the Superior IRA & HSA® opening documents.

Providing an amendment mailing to the merging financial organization's existing account owners ensures that all accounts at the surviving financial organization are governed under the same agreement and disclosure documents. 

If the merging organization does not currently govern its accounts under the Superior agreement, the Superior default beneficiary process may be different from the default currently used by the merging organization. 

The Superior agreement indicates that an account will become payable to the surviving spouse if no beneficiary is designated upon the owner’s death. If there is no surviving spouse, it will become payable to the estate.

One-Way Amendment Mailing

If the merging organization and the surviving organization are the same fiduciary type (e.g., Custodian or Trustee), then only a one-way amendment mailing is required. This means that the amendments may be sent to the merging organization's account owners and do not need to be signed or returned by the account owners to take effect. 

Two-Way Amendment Mailing

If the merging organization and the surviving organization are different fiduciary types (e.g., Custodian vs. Trustee), then a two-way amendment mailing is required. This means that the documents sent to the merging organization's account owners must be signed and returned by the account owners to take effect. 

Determine how your organization will complete this amendment mailing:

1. Have Superior complete the mailing at an extra cost. Copies of amendments are stored at the account level under the Notifications section in the Superior platform. (Notify the Superior representative processing your organization's merger if you choose this option.)
2. Have your organization complete the mailing in-house, using the applicable documents provided below depending on the surviving organization's fiduciary type--Custodian or Trustee--and if you will be completing a One-Way Amendment Mailing or a Two-Way Amendment Mailing. (Notify Superior once you complete this mailing.)