custodial account


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Noun1.custodial account - a brokerage firm account that parents have created for a minor
cash account - an account with a securities brokerage whose transactions are settled on a cash basis
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Mutual funds held in a custodial account are also permissible 403(b) investments but are treated as amounts contributed to an annuity.
According to officials with ICBC, to subscribe for CDB bond, customers can open or designate the capital account for bond trading and the custodial account of bond by logging into ICBC internet banking or mobile banking, or visiting ICBC outlets during the issuing period.
If you're discussing such a strategy with clients, point out that 529 contributions must be made in cash, so any securities held by the student in a custodial account will have to be sold.
The UGMA, as originally enacted, did not allow a custodial account to hold real estate and various other investments.
The new global offering will consolidate allocation and settlements for institutional investors executing trades across multiple brokers and execution venues to a single aggregated allocation and delivery to each custodial account.
Taproot claimed that because the Roth IRA was a custodial account, it was a qualified trust for purposes of being an S corporation shareholder.
Gifts may also be made to an irrevocable trust or custodial account (see charts on pages 63 and 79, and discussions on pages 560-562).
Generally, an individual retirement account is set up as a trust or custodial account with a bank, a federally insured credit union, or a savings and loan association; whereas an individual retirement annuity is established by purchasing an annuity contract from a life insurance company.
They found their own issuer and set up their own annuity contract or custodial account, but they didn't know what the IRS requirements were, so you had mistakes right and left," Baum said.
Note if money is held in a custodial account, tenants will receive interest at the level indicated by the Bank of England base rate.
The funds are held in trust or in a custodial account, but the employee has control and ownership.
A typical custodial account is registered under a minor's Social Security number, owned by the minor and managed in the minor's best interests by the custodian, typically the parent.