How Do I Open an Account at Equity Trust?

By Elsie Dudukovich0 Comments

The path to self-directed IRA investing with Equity Trust Company starts with opening an account. Whether you are new to Equity Trust or an established client looking to hold a different type of account, your account application is an important first step.

Before you begin, make sure you meet the account’s eligibility requirements as established by the IRS.
The IRS has a wide range of publications and resources regarding retirement accounts.  Consulting with your trusted advisor and reviewing IRS publications could be part of your research into which accounts may be appropriate for you.
Once you have decided which account is appropriate for you, our Senior Account Executives will assist you with Equity Trust Company’s account application process.

The basic steps for opening a new account are:
  1. Complete every section on the application.  Every section of the application is relevant to how your account is established and maintained.
    1. A Senior Account Executive can help you with any questions you have regarding what information is needed in each section.       
  2. Provide a copy of your identification such as a driver’s license. Our Senior Account Executives will assist you if you are opening an account for a minor.
  3. Provide or indicate how you are funding the new account.  Accounts can be funded through personal contributions, transfers from other custodians, and rollovers.
    1. A typical transfer of funds and/or assets from your current custodian to your Equity Trust account could take anywhere from 14-30 days from the time the paperwork is received by your current custodian.  Transfer timeframes may vary per custodian.  Please also contact your current custodian to discuss what their processing requirements are for transferring funds from their institution to another custodian.
    2. Due to the possible tax implications, include a contribution/rollover deposit coupon with the incoming funds for proper identification and processing.
    3. A Senior Account Executive can help you with any questions you have regarding what information is needed to fund your account.
  4. Provide a method for paying any fees associated with opening your account. A credit card is required with all new account applications.
    1. A Senior Account Executive can help you with any questions you have regarding how to pay for account fees.     
If you have any questions or need or assistance during the process, call our Senior Account Executives at 888-382-4727.