Trust
Accounts
What is a Trust Account?
A Trust account is setup so a trustee can administer an account for the
benefit of one or more beneficiaries. Most Trusts have their
own Fed ID #.
I
want to open a Trust Account with your firm. At what point
should I send in the completed account opening documentation?
You will first need to make contact with a broker here and discuss the
details of your transaction. If our compliance department
approves your transaction, you can then proceed to fax or email in the
account opening documentation. If you will be
depositing shares, you will first want to complete an
Equity Deposit Questionnaire
(EDQ)
or the Quick
Facts Questionnaire (QFQ). See
Guidelines for Depositing OTC Securities.
What forms are required to open
up a Trust Account?
- The New Account Approval Form (Page 1***&2), Customer Account Agreement, Trustee Certification, Initial Privacy Notice, & Receipt of Documentation. These forms can be found under New Accounts>Trust Account
- Each Trustee will need to submit an unexpired government issued identification. Government-issued identification includes driver's licenses, state identification cards and/or passports.
- We will need to be provided a copy of the trust.
Do you need the original
documentation?
You can fax us or scan into an email the required documentation.
The only instance for which we require original documentation
is in the case of the W-8BEN for a foreign company.
Would you open a trust setup in
Canada?
No. We are unable to open Canadian trust accounts.
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