Company: UMBFO
Filing Date: 2025-06-25
Form Type: 11-K
Source: 0000950170-25-089908
Chunk: 10

Company: UMB FINANCIAL CORP
Filing Date: 2025-06-25
Form: 11-K
Chunk 10
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 | — |     | $       | — |     | $     | 665,618,502 |

5. Plan Termination Although it has not expressed any intention to do so, the Board of Directors of the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions set forth in ERISA. In the event that the Plan is terminated, participants become 100 percent vested in their accounts and the Plan provides that its net assets be used to pay all expenses and benefits due and will distribute the remaining assets among the Plan participants based upon their account balance. 6. Tax Status The Plan uses a pre-approved defined contribution plan document sponsored by FMR, LLC. The sponsor received an opinion letter from the Internal Revenue Service (IRS) dated June 30, 2020, which states that the pre-approved defined contribution plan document satisfies the applicable requirements of the IRC. The Plan itself has not received a determination letter from the IRS. However, the Plan’s management believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the IRC. Therefore, no provision for income taxes has been included in the Plan’s financial statements. The Plan is subject to routine audits by taxing jurisdictions; however there are currently no audits for any tax period in progress. The Plan’s federal tax returns for tax years 2021 and later remain subject to examination by taxing authorities. 7. Related Party and Party In Interest Transactions At December 31, 2024 and 2023, included in the Plan’s share of net assets of the Master Trust are 185,612 and 195,948 shares, respectively, of UMB’s common stock at a fair value of $20,948,215 and $16,371,478, respectively. Certain Plan investments are units of mutual funds and a collective investment trust managed by affiliates of the Trustee. All of the above transactions are exempt party in interest transactions under ERISA. Additionally, certain employees have outstanding loans with the Plan as of December 31, 2024 and 2023. These loans are considered party in interest transactions allowable under ERISA.

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#### 8.
Transfers from The ESOP of UMB

The ESOP allows participants to diversify their investment in Company stock by transferring a portion of their investment in Company stock from the ESOP into other investment options offered by the Plan. Participants who are at least age 50 with at least 10