custodial account


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  • noun

Words related to custodial account

a brokerage firm account that parents have created for a minor

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Most state laws provide a way to establish a custodial account under either UGMA (Uniform Gifts to Minors Act) or UTMA (Uniform Transfers to Minors Act).
Halpern acknowledged Holmes' reading of the regulation for other types of custodial accounts, but wrote that because of an IRA'S special tax treatment, regarding it in such a fashion "utterly subverts the rationale for the attribution rule in the regulation.
1 the launch of the Profile Retirement Program, a custodial account of low-cost, no-load mutual funds, to meet the demand from plan sponsors for outsourced administrative services and the continued availability of a low-cost, direct-model investment platform, said Bruce Corcoran, senior vice president of K-12 national markets.
Depending on their size, custodial accounts may have income tax implications.
State and local governments that do not currently use trust, annuity contracts, or custodial accounts will need to establish one or more of these investment vehicles.
Following a refinancing, the funds received by the servicer from the homeowner (at any time within the month) are placed in a custodial account.
Custodial Accounts: A custodial account is an account managed by a parent or guardian on behalf of a child.
This milestone demonstrates key objectives for the firm, which strives to offer a wide range of separately managed accounts and specialty allocation strategies leveraging ETFs and mutual funds, through a single custodial account, or unified managed account.
Reporting is now required for those who hold interests valued at more than $50,000 in the aggregate in: (i) depository or custodial accounts maintained by a non-US-financial institution; (ii) non-US stock, interests in non-US entities, and financial instruments or contracts with a non-US counterpart not held within a custodial account of a financial institution.
The Sixth Circuit said that only assets of an ERISA plan held in a trust would be excluded from the bankruptcy estate and that assets in a custodial account could not be excluded.
An HSA is a tax-exempt trust or custodial account established exclusively to pay qualified medical expenses of the account beneficiary who, for the months for which contributions are made to an HSA, is covered under a high-deductible health plan that satisfies certain requirements as to deductibles and out-of-pocket expenses.
An MSA is a tax-deductible custodial account established to pay medical expenses in conjunction with a high-deductible health insurance plan.
By opening a custodial account, the minimum is lowered from $2,500 to $1,000 and any sales charges are waived.
The International Explorer Fund requires a minimum initial investment of $25,000 to open a new general, IRA, or custodial account.
The current integration efforts with Pershing's NetX360 platform will enable advisors using Advisor Xi to conduct straight-through processing of equity and mutual fund trades on accounts custodied at Pershing, as well as access real-time custodial account data.