Trust Accounts at Interactive Brokers
Interactive Brokers offers a variety of account types for both individuals and institutions, including trust accounts. Opening a trust account on the IBKR website is straightforward, and the pricing is very competitive.
Overview of Trust Accounts at Interactive Brokers
Interactive Brokers provides several types of trust accounts, including:
- Irrevocable Living Trust
- Revocable Living Trust
- Regulated Retirement Trust (Qualified Retirement Plan)
- Regulated Retirement Trust (Non-Qualified Retirement Plan)
- Testamentary Trust
- Other
Interactive Brokers accepts both legally-established trusts and common-law trusts.
Opening a Trust at IBKR
You can
open a trust account using the IBKR website. The best place to start is with the red "Open an Account" button at the top of the site. After clicking this button, you'll be directed to a page to create a login. Whether you're a new or existing IBKR client, a trust account must have its own login credentials and cannot use those of an existing account.
On the initial sign-up page, you must indicate the country of residency. In addition to the United States, Interactive Brokers accepts tax residency from many other countries, such as:
- Turkmenistan
- Western Sahara
- Zambia
- Canada
You also need to provide an email address, which must be verified before the account can be opened.
Further along in the process, you'll need to choose a commission schedule for the trust account: IBKR Lite or IBKR Pro.
You'll then fill out the remaining details, including contact information, tax ID number, and principal place of business. A tax ID number is required, but it doesn't have to be a Social Security Number or any number from the U.S. government.
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Trust Accounts at Interactive Advisors
Trust accounts can be opened at Interactive Advisors, the company's robo-advisor, but only by institutions. Individuals are not eligible.
Fees for Trusts at IBKR
Interactive Brokers does not charge special fees for trust accounts. This means you can open a trust account with no deposit, and there are no low-balance or recurring fees like annual or maintenance charges.
Trading fees are very low for many products. For example, a U.S.-based trust pays no commissions on online trades of U.S.-listed stocks and ETFs. Other products have some trading costs, but IBKR keeps these quite low. Futures trades, for instance, can cost as little as 10ยข per trade.
Investments for Trusts
Trust accounts at Interactive Brokers can trade a wide range of asset classes. These include the same investments available to other accounts, such as:
Futures
Stocks, including OTC and foreign stocks
Mutual funds
Fixed income
ETFs
Options
Forex
And more
Trust Education
Once the trust account is open, you'll find an Education tab at the top of the site after logging in. This section offers many learning materials focused on active trading. While these resources don't specifically target estate planning, there are a few trust-related terms in the glossary that might be helpful.
IBKR Trust Account Judgment
Yes, trusts can be opened at Interactive Brokers. The process is easy, thanks to the user-friendly online application. Even common-law trusts are accepted. However, because there's limited educational content on trusts, this option is best for experienced investors who understand what they're doing.
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Updated on 7/19/2024.
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