Sit Required Minimum Distribution Election Form - Sit Mutual Funds

SYSTEMATIC DISTRIBUTION CYCLE

- (If a frequency is not selected, your RMD will be distributed annually.)

Begin systematic distributions on: ______/______/______ Frequency (choose one):

Monthly

Quarterly

Semi-Annually

Annually

PAYMENT METHOD

Based on your selected distribution method, a Medallion Signature Guarantee Stamp may be required. Please refer to your prospectus or call us at

the number listed on this form for specific requirements. If a payment method is not selected, your RMD will be issued as a check payable to you

and mailed to your address of record. Your payout method will remain in effect until we receive notice from you requesting a change.

Mail check to my address of record currently on file.

Purchase into my non-retirement account:

Application attached with investment instructions (or)

Existing Account Number: ____________________________ Investment Fund(s): _________________________________________

*Transfer funds electronically via ACH (voided check required) (or)

**Mail check to:

*The receiving bank account must include

your name in the account registration.

Name of Institution: ___________________________________________________________

Address: ____________________________________________________________________

**Medallion

Signature

Guarantee

required and may be obtained at your local

____________________________________________________________________________

bank

trust

company,

securities

broker/dealer, clearing agency or savings

Routing and Account Number: ___________________________________________________

association.

FEDERAL TAX WITHHOLDING ELECTION

(required)

Distributions from IRAs and qualified retirement plans that are not eligible for rollover are subject to federal income tax withholding unless you

affirmatively elect NOT to have withholding apply to such payments. Generally, such distributions are subject to 10% withholding unless you elect

to have an additional amount withheld or elect to have no withholding. You may make a withholding election by selecting one of the options

below. Your election will remain in effect for any subsequent distributions unless you change or revoke it by providing us with a new election.

Please select one:

Do not withhold federal income tax. This option is only available for accounts registered with a United States address.

Withhold 10% in federal income tax.

Withhold _____% in federal income tax (must be more than 10%).

Federal income tax will be withheld from any distribution subject to the IRS withholding rules if you do not complete and return this election or if

you have not previously elected out of withholding. Tax will be withheld on the gross amount of these payments even though you may be receiving

amounts that are not subject to withholding because they are excluded from gross income. This withholding procedure may result in excess

withholding on the payments.

STATE INCOME TAX WITHHOLDING ELECTION

Your state of residence will determine your state income tax withholding requirements, if any. Those states with mandatory withholding may

require state income tax to be withheld from payments if federal taxes are withheld or may mandate a fixed amount regardless of your federal tax

election. Voluntary states let individuals determine whether they want state taxes withheld. Some states have no income tax on retirement

payments. You may wish to consult with a tax advisor or your state's tax authority for additional information on your state requirements.

I elect TO NOT have state income tax withheld from my retirement

I elect TO have the following dollar amount or percentage from

account distributions (only for residents of states that do not require

my retirement account distribution withheld for state income taxes (for

mandatory state tax withholding).

residents of states that allow voluntary state tax withholding).

$ _____________ or _____ %

AUTHORIZATION

I certify that I am the Participant authorized to make these elections and that all information provided is true and accurate. I further certify that the

Custodian, Sit Mutual Funds, or the agent of either of them has given no tax or legal advice to me and shall be indemnified and held harmless for

any tax, legal or other consequences resulting from my election(s). I expressly assume responsibility for any adverse consequences which may arise

from the election(s). The Custodian is hereby authorized and directed to distribute funds from my account in the manner requested. I have read

and understand and agree to be legally bound by the terms of this form.

Participant's Signature (required)

Date

Medallion Signature Guarantee Stamp and Signature: An eligible guarantor is a domestic

Medallion Signature Guarantee Stamp

bank or trust company, securities broker/dealer, clearing agency or savings association

that participates in a medallion program recognized by the Securities Transfer Agents

Association. The three recognized medallion programs are the Securities Transfer Agents

Medallion Program (STAMP), Stock Exchanges Medallion Program (SEMP), and the

Medallion Signature Program (MSP). A notarization from a notary public is NOT an

acceptable substitute for a signature guarantee.

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RMDSW2016

Sit Required Minimum Distribution Election Form - Sit Mutual Funds - 2016 Page 2

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