Change of BeneficiaryDesignationForms and InstructionsFor Changing the Designated Beneficiaries for Your OppenheimerFunds Traditional IRA, Roth IRA, SEP IRA, SARSEP IRA, SIMPLE IRA or 403(b)(7) Accounts

Not FDIC InsuredMay Lose ValueNot Bank Guaranteed

One of the most important things to be aware of when it comes to estate planning is the need to name beneficiaries on your retirement plan accounts. Designating beneficiaries gives you control of who will receive your assets after your death. It also helps transition your assets with fewer delays and less cost.

Enclosed is the OppenheimerFunds’ Change of Beneficiary Form, as well as information regarding your beneficiary designations and their distribution options. Once we receive your completed form, your beneficiary designations will be updated. You can then view and make additional changes to your designations on our website at oppenheimerfunds.com.

Questions?

Call us at 800 835 7305

CONTENTS

1 Your Beneficiary Designation Options

3 Change of Beneficiary Form

7 Distribution Options Based on Beneficiary Designation

9 Frequently Asked Questions

10 Checklist

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Your Beneficiary Designation Options

The beneficiary designations provided on this form will supersede any other instructions—including those you have in your will. You may want to consult with an estate attorney. Also, please be sure to complete the entire form, even if you are changing only a part of your beneficiary designation.

You may update your beneficiaries or your special beneficiary options at any time. However, your designations are irrevocable upon your death. It’s a good idea to review your designations periodically, especially when a major event occurs, such as the birth of a child/grandchild, a marriage or a divorce.

What are my beneficiary designation options?

You can choose from among the designations below. On the form, indicate the percentage of assets you want to allocate for each beneficiary, ensuring the total equals 100% in both the primary designation section and the contingent designation section.

Beneficiary designations include:• Individually Named Beneficiary(ies) • Spouse • Non-spouse individual • Organization/Charity• Special Beneficiary Option: Per Capita/Per Stirpes

(DO NOT list children’s names when selecting this option.)

• Special Beneficiary Option: Trust or Estate (If naming your trust as your beneficiary, DO NOT write in the trustee(s) name(s) on the form, only the name of your trust.)

What is the difference between a primary beneficiary and a contingent beneficiary?

A primary beneficiary is the first designation to inherit the proceeds of your account in the event of your death. You may name more than one primary benefi-ciary. If one primary beneficiary dies before you, that beneficiary’s share will be divided equally among the surviving primary beneficiaries. If none of your primary beneficiaries survive you, then your assets will go to any listed contingent beneficiary(ies). You may name more than one contingent beneficiary.

What are the responsibilities of your beneficiaries?

Upon your death, your beneficiaries will need to supply specific information and documentation to OppenheimerFunds prior to us distributing your assets. You should discuss your designations with your beneficiaries and inform them of this responsibility.

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Hans Pam Walt $33,333 $0 $0 (1/3)

Hans Pam Walt $100,000 $0 $0 (100%)

If you are survived by all of your children, your account will be divided among them equally.

Should any of your children predecease you, your assets would be distributed based on the option you select.

Note: or = deceased

GR

AN

DC

HIL

DR

EN

C

HIL

DR

EN

P

AR

EN

T

Jan Pete Tina $0 $0 $0

You$100,000

Hans Pam Walt $33,333 $33,333 $33,333 (1/3) (1/3) (1/3)

Per Capita at Each Generation All beneficiaries within the same generation get an equal share of the account.

Jan Pete Tina $22,222 $22,222 $22,222 (2/9) (2/9) (2/9)

You$100,000

Per Stirpes (by the branch)/Per Capita with Representation

All surviving children receive an equal share of the account and, if a child predeceases you, his or her children would take (or equally divide) their parent’s share.

Jan Pete Tina $33,333 $16,666 $16,666 (1/3) (1/6) (1/6)

You$100,000

Hans Pam Walt $33,333 $0 $0 (1/3)

Per Capita (by the head)

All surviving children get an equal share of the account. There is no representation, which means grandchildren will not receive a share so long as any children are still living.

Jan Pete Tina $0 $0 $0

You$100,000

Special Beneficiary Options: Per Capita/Per Stirpes

You may designate how your account is distributed to your children and grandchildren as beneficiaries using a Per Capita (“by the head”) or Per Stirpes (“by the branch”) designation. The executor/executrix of your estate is responsible for negotiation under these designations.

To be effective, the designation must be received by OppenheimerFunds Services, as agent of the IRA Trustee/403(b)(7) Custodian. Once received, the designation replaces any prior beneficiary designation for your account(s).

You may also designate or change your beneficiary designations online at oppenheimerfunds.com. However, if you wish to select a “Special Beneficiary Option,” see Section 3 (B or C) or 4 (B or C). You will need to submit your designation on this form.

If you are signing as a fiduciary (attorney-in-fact, guardian, conservator), on behalf of the shareholder, your signature must be guaranteed. If you are signing as the attorney-in-fact, a copy of the Power of Attorney document (POA), and a Durable 30-Day Affidavit (available from OppenheimerFunds), are also required stating the shareholder is alive and the POA is in full force and effect.

Complete and return pages 1–4 of this form to:

OppenheimerFunds Distributor, Inc. P.O. Box 5390 Denver, CO 80217-5390

Fax: 303 768 1500

If you have any questions or need assistance, please call 800 CALL OPP (225 5677) (toll free). We’ll be glad to help you.

Please print clearly in all CAPITAL LETTERS using black ink. Color in circles completely. For example: not x not ✓

1 | Account owner information

*Asterisked fields are required.

*First name *Middle initial *Last name Mr. Mrs. Ms. Home phone number

Social Security number

*Residential street address (P.O. Boxes not accepted, APO/FPO address accepted) Daytime phone number

City State Zip

*Mailing address (if different from above) Email address

City State Zip

Contact (select one): Me My Advisor Either

( )

Daytime phone number

( )

( )

Update address with residential or mailing address information listed below.

Update phone number with information listed below.

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Change of Beneficiary Form Traditional IRA, Roth IRA, SEP IRA, SARSEP IRA, SIMPLE IRA and 403(b)(7)

Instructions

2 | Type of account

Designate beneficiaries in these retirement plan types ONLY (check all that apply). If you want different beneficiary designations on different retirement plan types, please complete a separate form for each retirement plan type.

Traditional/Rollover IRA Roth IRA SEP IRA SARSEP IRA

SIMPLE IRA Inherited IRA1 Inherited Roth IRA1 Inherited SEP IRA1

Inherited SARSEP IRA1 Inherited SIMPLE IRA1 403(b)(7) Inherited 403(b)(7)1

1. Estates, trusts or charities that inherit IRAs or 403(b)(7)s cannot designate beneficiaries.

3 | Beneficiary designations—Primary Beneficiary

Please NoteIf you need any further information or assistance, call 800 835 7305.

Per capita—all surviving children get an equal share of the account. According to this method, there is no representation, so grandchildren will not receive a share if any children are still living.

Per stirpes/per capita with representation—all surviving children receive an equal share of the account and if a child predeceases the account owner, any grandchildren by that child would take their parent’s share. For example, if an account owner has three children, the child who is still living receives one-third of the account; a second child predeceases the account owner but has one son, so that grandchild receives one-third of the account (his parent’s entire share), and the third child predeceases the account owner but has two children, so those grandchildren each receive one-sixth of the account (since they had to split their parent’s share).

Per capita at each generation— all beneficiaries of the same generation always get an equal share of the account. Considering the example above, according to this method the first child still receives one-third of the account, however, unlike above, the remaining two-thirds of the account is split evenly by all the grandchildren, because they are the same generation. This means they would each receive one-third of the remaining two-thirds of the account (that is, each of the three grandchildren would receive two-ninths of the account).

NOTE: Do not list children’s names if indicating a per stirpes or per capita designation.

Primary BeneficiaryI hereby elect the following as my primary election for beneficiary(ies). The designation replaces any prior beneficiary(ies) designation that I have made.

Please complete A, B or C below (choose only one). If you are not naming your spouse as sole beneficiary and you live in a Community Property State, also complete Section 5: Spousal Consent—Community property states only.

A. Individually Named Beneficiary(ies)

Allocations must be in whole percentages and must equal 100%. Assets will be divided equally among designated beneficiaries if allocation percentages are not provided. If you need additional space, please photocopy this page, fill it out and include with the other pages of this form.

Name Provide the full legal name of person, or organization (include suffixes, if applicable) Jr. Sr. Other _______________

Social Security/Tax ID number Date of birth (mm/dd/yyyy)

Relationship: Spouse Non-Spouse Organization/Charity Allocated percent: ____________%

B. Special Beneficiary Option: Per Capita/Per Stirpes

Select only one of the options below.

• Do not complete Contingent Beneficiary section below.

• DO NOT list children’s names above when selecting one of these Special Beneficiary Options. OppenheimerFunds will rely on the Special Beneficiary Option selected and will require the executor of the estate to provide the name(s) of the beneficiary(ies) upon a requested transfer of assets. Any names listed above will be disregarded.

100%: I designate that my account(s) be distributed to my children per capita.

100%: I designate that my account(s) be distributed to my children per stirpes/per capita with representation.

100%: I designate that my account(s) be distributed to my children per capita at each generation.

Name Provide the full legal name of person, or organization (include suffixes, if applicable) Jr. Sr. Other ________________

Social Security/Tax ID number Date of birth (mm/dd/yyyy)

Relationship: Spouse Non-Spouse Organization/Charity Allocated percent: ____________%

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4 | Beneficiary designations—Contingent Beneficiary

C. Special Beneficiary Option: Trust or Estate

____________%: I designate that my account(s) be distributed to my trust.

Trust Title: _________________________________________________________

Under Agreement (U/A) Date: ____ /____ /______ OR Under Will (U/W) Date: ____ /____ /______

____________%: I designate that my account(s) be distributed to my estate.

Contingent BeneficiaryI hereby elect the following as my contingent election for beneficiary(ies). The designation replaces any prior beneficiary(ies) designation that I have made.

Please complete A, B or C below (choose only one). If you designated a Special Beneficiary Option: Per Stirpes/Per Capita or Trust or Estate as your primary beneficiary, please do not fill out this section.

A. Individually Named Beneficiary(ies)

Allocations must be in whole percentages and must equal 100%. Assets will be divided equally among designated beneficiaries if allocation percentages are not provided. If you need additional space, please photocopy this page, fill it out and include with the other pages of this form.

Name Provide the full legal name of person, or organization (include suffixes, if applicable) Jr. Sr. Other _____________

Social Security/Tax ID number Date of birth (mm/dd/yyyy)

Relationship: Spouse Non-Spouse Organization/Charity Allocated percent: ____________%

Name Provide the full legal name of person, or organization (include suffixes, if applicable) Jr. Sr. Other _____________

Social Security/Tax ID number Date of birth (mm/dd/yyyy)

Relationship: Spouse Non-Spouse Organization/Charity Allocated percent: ____________%

B. Special Beneficiary Option: Per Capita/Per Stirpes

Select only one of the options below.

• DO NOT list children’s names above when selecting one of these Special Beneficiary Options. OppenheimerFunds will rely on the Special Beneficiary Option selected and will require the executor of the estate to provide the name(s) of the beneficiary(ies) upon a requested transfer of assets. Any names listed above will be disregarded.

100%: I designate that my account(s) be distributed to my children per capita.

100%: I designate that my account(s) be distributed to my children per stirpes/per capita with representation.

100%: I designate that my account(s) be distributed to my children per capita at each generation.

C. Special Beneficiary Option: Trust or Estate

____________%: I designate that my account(s) be distributed to my trust.

Trust Title: _________________________________________________________

Under Agreement (U/A) Date: ____ /____ /______ OR Under Will (U/W) Date: ____ /____ /______

____________%: I designate that my account(s) be distributed to my estate.

NOTE: Do not list children’s names if indicating a per stirpes or per capita designation.

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5 | Spousal consent—Community property states only

If this section is left blank, OppenheimerFunds will default to “Not Presently Married.”

Not Presently Married

I hereby consent to the designation of the beneficiary(ies) previously stated. Married residents of AZ, CA, ID, LA, NV, NM, TX, WA and WI must sign below if the shareholder’s spouse is not designated as the sole primary beneficiary.

X Spouse’s signature Date

6 | Spousal consent—ERISA 403(b)(7) plans only

If you work for a non-profit, hospital or other 501(c)(3) organization, your plan may be subject to ERISA. If your plan is subject to ERISA, and you are married but have not designated your spouse as your sole primary beneficiary, your spouse must complete this section and have their signature notarized. Check with your employer about the plan’s ERISA status.

Not Presently Married. Proceed to Section 7.

I certify I have read this designation of beneficiary form and voluntarily and irrevocably consent to the designation of beneficiary. I understand I am not designated as the participant’s sole primary beneficiary. I understand that if I were to decline to sign this consent, as the participant’s surviving spouse, I would be entitled to 100% of any beneficial account at the time of the participant’s death.

Spouses’ first name Middle initial Spouse’s last name

X Spouse’s signature Date

This section must be completed by a Notary Public.

If you are the attorney-in-fact, guardian or conservator signing for the shareholder, your signature must be Signature Guaranteed. If you are signing as attorney-in-fact you must also provide a photocopy of the POA document and a 30-day affidavit stating the shareholder is alive and the POA is in full force and effect.

Acknowledgement

State of ________________________________________ County of _______________________________________

On this ________ day of ______________, ________________, appeared before me in person, the person whose signature appears above, the spouse of the participant, to me personally known to be the person who executed the above foregoing consent and acknowledged to me that (s)he executed the same as his or her own free act and deed and for the purpose therein stated.

Notary Public’s signature (seal) Commission expires (month/day/year)

7 | Signature

I hereby designate my beneficiary(ies) under my OppenheimerFunds IRA and/or 403(b)(7), in accordance with the OppenheimerFunds IRA Trust Agreement, OppenheimerFunds SIMPLE IRA Trust Agreement, and/or OppenheimerFunds 403(b)(7) Custodial Agreement. This designation supersedes any prior beneficiary designations that I have made. I understand that if my designation indicates a class of individuals, it shall be the sole responsibility of my estate to determine the individual beneficiaries entitled to benefit from the balance of my account.

X Signature Date

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Distribution Options Based on Beneficiary Designation

Different beneficiary designations bring with them different options for distributing the assets from your account. The descriptions below outline these options. Please consult your advisor for further details.

Spousal Beneficiary

If your spouse is your sole beneficiary, he or she has the following distribution options:

• Distribute the assets by placing the assets into his/her own retirement plan account (often referred to as “roll-to-control”).

• Distribute the assets in a lump sum.

• Distribute the assets from a beneficial account using the 5-Year Rule (option available only if your death occurs before your required beginning date (RBD) has been reached).

• Your RBD is the date by which you must begin receiving required minimum distributions.

• For all IRAs (Traditional IRAs, SEP IRAs, SARSEP IRAs and SIMPLE IRAs), this date is April 1 of the year following the calendar year you reach age 70½.

• For 403(b)s, this date is the later of: • April 1 of the year following the calendar

year you reach age 70½, OR

• April 1 of the year following the calendar year you retire.

• Distribute the assets from a beneficial account using the Life Expectancy distribution method based on the spousal beneficiary’s age. Distributions must begin by December 31 of the year following the year of your death. The life expectancy divisor will be determined in each subsequent year.

• Defer distributing the assets from a beneficial account using the Life Expectancy distribution method based on the spousal beneficiary’s age no later than December 31 of the year you would have reached age 70½ (option available only if your death occurs before your RBD has been reached).

• Community Property Assets accumulated during marriage in community property states might not be inherited by non-spouse beneficiaries. Please consult with your estate attorney for guidance on community property rights.

• 403(b)(7) Custodial Accounts If you are married and own a 403(b)(7) custodial account and your employer’s plan is governed by the Employee Retirement Income Security Act of 1974 (ERISA), your spouse may have special rights as your beneficiary. For more information, check with your employer.

NOTE: Spousal beneficiaries of 403(b) accounts may not move the assets to a Beneficial IRA. They must remain in a Beneficial 403(b) or roll the assets to their own retirement account.

Non-Spousal Beneficiary

(Includes special beneficiary designation options: per capita/per stirpes.)

A non-spouse beneficiary has the following distribution options:

• Distribute the assets in a lump sum.

• Distribute the assets from a beneficial account using the 5-Year Rule (option available only if your death occurs before your required beginning date (RBD) has been reached).

• Your RBD is the date by which you must begin receiving required minimum distributions.

• For all IRAs (Traditional IRAs, SEP IRAs, SARSEP IRAs and SIMPLE IRAs), this date is April 1 of the year following the calendar year you reach age 70½.

• For 403(b)s, this date is the later of: • April 1 of the year following the calendar year

you reach age 70½, OR

• April 1 of the year following the calendar year you retire.

• Distribute the assets from a beneficial account using the Life Expectancy distribution method based on the non-spousal beneficiary’s age. Distributions must begin by December 31 of the year following the year of your death. The life expectancy divisor will be reduced by one in each subsequent year.

• 403(b) Non-Spousal Option Only: Distribute the assets by placing the assets into a Beneficial IRA or by doing a direct conversion to a Beneficial Roth IRA.

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Trust Beneficiary

If a trust is designated as your beneficiary it must be valid under your state’s law and either be irrevocable from the beginning or become irrevocable, by its terms, no later than at your death. Please consult with your estate attorney for guidance on trusts.

When designating a trust as your beneficiary, it is important to name only the trust and not the trustee(s). Your trust beneficiary has the following distribution options:

• Distribute the assets in a lump sum.

• Distribute the assets from a beneficial account using the 5-Year Rule (option available only if your death occurs before your required beginning date (RBD) has been reached).

• Your RBD is the date by which you must begin receiving required minimum distributions.

• For all IRAs (Traditional IRAs, SEP IRAs, SARSEP IRAs and SIMPLE IRAs), this date is April 1 of the year following the calendar year you reach age 70½.

• For 403(b)s, this date is the later of: • April 1 of the year following the calendar year

you reach age 70½, OR

• April 1 of the year following the calendar year you retire.

• Distribute the assets from a beneficial account using the Life Expectancy distribution method based on the spousal beneficiary’s age. Distributions must begin by December 31 of the year following the year of your death. The life expectancy divisor will be determined in each subsequent year.

• 403(b) Trust Option Only: The Trustee(s) of your trust may elect to move your 403(b)(7) assets into a Beneficial IRA and then begin distribution of the assets.

Organization/Charity/Estate Beneficiary

An organization, charity or estate as beneficiary has the following distribution options:

• Distribute the assets in a lump sum.

• Distribute the assets from a beneficial account using the 5-Year Rule (option available only if your death occurs before your required beginning date (RBD) has been reached).

• Your RBD is the date by which you must begin receiving required minimum distributions.

• For all IRAs (Traditional IRAs, SEP IRAs, SARSEP IRAs and SIMPLE IRAs), this date is April 1 of the year following the calendar year you reach age 70½.

• For 403(b)s, this date is the later of: • April 1 of the year following the calendar year

you reach age 70½, OR

• April 1 of the year following the calendar year you retire.

• Distribute the assets from a beneficial account using the Life Expectancy distribution method based on your age in the year of death. Distributions must begin by December 31 of the year following the year of your death. The life expectancy divisor will be reduced by one in each subsequent year. (This option is available only if your death occurs after your RBD has been reached.)

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Frequently Asked Questions

What happens to my account if I do not designate a beneficiary?

If you do not designate a beneficiary or if all of your primary and contingent beneficiaries predecease you, your surviving spouse becomes your beneficiary if you are married at the time of your death. If you do not have a surviving spouse, payment of your account will be made to your estate.

Do I have to designate a contingent beneficiary?

No. Note that your contingent beneficiary only receives the proceeds of your account if you have no surviving primary beneficiaries at the time of your death.

What happens if my primary beneficiary(ies) predecease me and I don’t have any contingent beneficiary(ies) designated?

If you do not designate any contingent beneficiary and all of your primary beneficiaries predecease you, your surviving spouse becomes your beneficiary if you are married at the time of your death. If you do not have a surviving spouse, payment of your account is made to your estate.

How many beneficiaries can I designate?

You can designate up to 99 primary and 99 contingent beneficiaries for each plan type.

Can a minor be designated a beneficiary?

Yes, but at the time of your death, if any of the named beneficiaries is a minor, a guardian must manage the account until the beneficiary reaches the age of majority (typically age 18 or 21, depending on state law). For specific legal implications regarding benefi-ciary designations, contact your legal advisor. Your right to designate a beneficiary is subject to appli-cable state law.

How does marital status affect my account?

A change in marital status may impact your estate planning if you do not update your beneficiary desig-nations. You may want to consult your legal advisor for clarification.

What if I live in a community property state?

If you live in a community property state (AZ, CA, ID, LA, NM, NV, TX, WA or WI) and you do not designate your spouse as your sole primary beneficiary, your spouse must sign the appropriate section of the Account Application or Change of Beneficiary form.

Assets accumulated during marriage in community property states might not be inherited by non-spouse beneficiaries. Please consult with your estate attorney for guidance on community property rights.

What happens after I pass away?

Upon your death, your financial advisor, beneficiary(ies) or the person handling your estate should call OppenheimerFunds and speak with a Customer Service Representative for instructions and assistance. We will not contact your beneficiary(ies).

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1 Did you provide your Social Security number in Section 1? Yes No

2 Did you tell us to which retirement plan type(s) the beneficiary(ies) designations apply in Section 2?

Yes No

3 Do your primary beneficiary allocations in Section 3 equal 100%? Yes No

4 Do your contingent beneficiary allocations in Section 4 equal 100%?

Yes No

5 If you live in a community property state, did your spouse sign in Section 5 if you did not elect him/her as primary beneficiary?

Yes No

6 If you have a 403(b)(7) account and your plan is subject to ERISA, did your spouse sign in Section 6 if you did not elect him/her as primary beneficiary? Check with your employer concerning your plan’s ERISA status.

Yes No

7 If applicable, was your spouse’s signature in Section 6 notarized by a Notary Public?

Yes No

8 Did you sign the form in Section 7? Yes No

9 Did you make a copy for your files? Yes No

Checklist

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Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.

This material is provided for general and educational purposes only, and is not intended to provide legal, tax or investment advice, or for use to avoid penalties that may be imposed under U.S. federal tax laws. Contact your attorney or other advisor regarding your specific legal, investment or tax situation.

Before investing in any of the Oppenheimer funds, investors should carefully consider a fund’s investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com or calling 1 800 CALL OPP (225 5677). Read prospectuses and summary prospectuses carefully before investing.Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc. 225 Liberty Street, New York, NY 10281-1008© 2016 OppenheimerFunds Distributor, Inc. All rights reserved.

RE0000.007.0816 September 19, 2016

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