IRA rules do not mandate the sending of periodic statements. If you choose to send periodic statements on time deposits, Regulation DD defines "periodic statement" in such a way as to exclude those statements from coverage; i.e. the content requirements do not apply:
(q) Periodic statement means a statement setting forth information about an account (other than a time account or passbook savings account) that is provided to a consumer on a regular basis four or more times a year.
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.