Sit Mutual Funds shareholders with assets held directly in the Sit Bond Funds have an exclusive checkwriting option that provides quick and convenient access to their Sit account(s). The checkwriting drafts may be used as you would use your personal bank account checks to make purchases, pay bills and other purposes, but you may not use these checks to process an electronic debit from your account. (If a merchant/recipient attempts to do so in error, the transaction will be rejected.) Another difference between the Sit checkwriting feature and your personal bank account check is that Sit drafts must be written for at least $250.00.
Sit checkwriting is available to shareholders with at least $5,000 in the Sit Minnesota Tax-Free Income, Tax-Free Income,U.S. Government Securities, and/or the Quality Income Funds. The drafts are specific to one fund and account number, and if you change your account registration (e.g. from an individual to a joint account), you must complete a new checkwriting form to order a checkbook for the new account.
To add this option to your Sit Bond Fund account, complete the checkwriting form and mail it to Sit Mutual Funds, PO Box 9763, Providence, RI 2940. We will mail a book of checks to you once the checkwriting feature is established (approximately two weeks to deliver). Additional checks may be ordered at no charge, and you may order a checkbook for each applicable Fund you own. The Sit Mutual Funds Bond Funds statutory prospectus provides additional information on this feature in the “Account Information” section. Please read this information prior to completing the checkwriting form. If you have questions or require assistance, an investor services representative will be happy to help. Please call 800-332-5580 for assistance.