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
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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