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or minor, nor do we have any duty to monitor or ensure that 

the Custodian is acting in the minor’s best interest. Each 

Custodial Account may designate only one Custodian on 

behalf of one minor.

(e) Estate Account

An Estate Account is an Account opened in the name of a 

decedent’s estate by the estate’s executor or administrator.

(f) Individual Retirement Account

We offer Traditional and Roth IRA CDs. IRA CDs are also 

governed by a separate IRA Plan Agreement and disclosures 

that we furnish to you at IRA Plan opening. The required forms 

must be completed and returned prior to funding, as set forth 

in Section 3(iii) above.

(g) Guardianship Account

A Guardianship Account is an Account maintained by a court- 

appointed guardian on behalf of a person who is either a 

minor or legally incapacitated (the “Ward”).

(7) DISCOVER STUDENT DEPOSITS PROGRAM

(a) Program Description

The Discover Student Deposits Program is available only to 

university or college students who come to Discover Bank 

through the RefundSelect

SM

 and eRefunds PLUS

TM

 Program 

and receive Title IV funds disbursements from universities  

or colleges where Discover offers its Student Cashback  

Debit product.

(b) Eligibility Criteria

In addition to all of the eligibility requirements in Section 2, 

a student must meet the following requirements to be part of 

the Discover Student Deposits Program.

(i) Eligibility to Open: Customer must have applied and 

been approved through the RefundSelect

SM

 or eRefunds 

PLUS

TM

 selection portal offered in conjunction with specific 

universities or colleges.

(ii) Eligibility to Maintain: To maintain your Discover 

Student Deposits Cashback Debit Account, a customer 

must meet the following enrollment status requirement:

•  You must have been considered an enrolled student by 

your university or college at some point in the past 24 

months as determined by Discover. In other words, if you 

are no longer enrolled in school and remain unenrolled 

for 24 consecutive months, you will no longer be eligible 

to participate in the Discover Student Deposits Program.

(c) Discover Student Deposits Program Fees

The fee schedule disclosed in Section 36 is applicable, 

excluding the Insufficient Funds Fee. While the Insufficient 

Funds Fee will not apply, Discover reserves the right to return 

the transaction.

Once you are no longer part of the Discover Student Deposits 

Program, you will be subject to the terms and conditions of 

the Cashback Debit Account, including the Insufficient  

Funds Fee.

(8) INCOME TAX REPORTING AND WITHHOLDING

(a) Taxpayer Identification Number

We will use the TIN described below for income tax reporting 

purposes:

(i)     Individual Account (including Informal Trust Accounts 

and Individual Retirement Accounts): The Social 

Security Number or other Taxpayer Identification 

Number provided by the Accountholder.

(ii)   Joint Account (including Informal Trust Accounts): The 

Social Security Number or other Taxpayer Identification 

Number of the Primary Accountholder.

(iii)   Custodial Account: The Social Security Number or  

other Taxpayer Identification Number of the minor.

(iv)    Trust Account: The Employer Identification Number 

(“EIN”) of the trust, or, if none, the Social Security 

Number or other Taxpayer Identification Number of the 

grantor.

(v)   Estate Account: The EIN of the decedent’s estate or the 

decedent’s Social Security Number.

(vi)  Guardianship Account: The Social Security Number or 

other Taxpayer Identification Number of the Ward.

(b) Backup Withholding

We may be required by the Internal Revenue Service (“IRS”) 

to withhold interest or other reportable income on your 

Account(s) if you do not furnish us with your correct TIN and 

do not properly certify that you are not subject to backup 

withholding (e.g., complete the W-9) or if otherwise instructed 

by the IRS.

(c) State Tax Withholding

(i) Checking, Money Market, Savings, and Non-IRA CD 

Accounts

Your state of residence, as determined by your address of 

record with us, will determine if you are subject to state 

income tax withholding. Some states have no income tax. 

For additional information and details that are specific to 

you on state tax withholding requirements, you should 

consult a tax advisor or your state’s tax authority.

(ii) IRA CD Accounts

State tax withholding laws on IRA distributions vary by 

state. Therefore, when requesting an IRA distribution, 

any state tax withholding will be based on your state of 

residence, as determined by your address of record  

with us. 

   •  For Traditional IRAs, your state’s tax regulations may 

require that we withhold a portion of the gross IRA 

distribution. 

   •  For Roth IRAs, state tax is typically not withheld unless 

requested by you. 

Even if you elect in writing not to have federal and/or 

state income tax withheld, you are liable for payment 

of federal and state income taxes, if applicable, on the 

taxable portion of your distribution. You may also be 

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