Get the free CUSTODIAL ACCOUNT AGREEMENT - Kalos Financial

CUSTODIAL ACCOUNT AGREEMENT WHEN TO USE THIS FORM When you want to open a Custodial (taxable) account with Equity Trust Company. INSTRUCTIONS & GUIDELINES Please fill in all sections of the application

How to fill out custodial account agreement

1. Start by obtaining a custodial account agreement form from the financial institution where you wish to open the account. This form can usually be found on their website or requested from a customer service representative.
2. Read through the agreement carefully, ensuring that you understand all the terms, conditions, and responsibilities associated with opening and maintaining a custodial account.
3. Provide your personal information, such as your name, address, and Social Security number, as required on the form. If the custodial account is for a minor, you will need to provide the minor's information as well.
4. Select the type of custodial account you wish to open. There are different types of custodial accounts available, including Uniform Gifts to Minors Act (UGMA) accounts and Uniform Transfers to Minors Act (UTMA) accounts. Each account type has its own specific rules and regulations, so it's important to choose the one that best suits your needs.
5. Determine who will be the custodian of the account. The custodian is the individual responsible for managing the account and making investment decisions on behalf of the minor. This could be a parent, guardian, or another trusted adult. Make sure to provide their complete information on the form.
6. If you want to designate a successor custodian, whom will take over the account if the initial custodian is unable to fulfill their duties, fill in their information on the form as well.
7. Review any additional options or features offered by the financial institution, such as the ability to invest in specific funds or select a specific investment strategy. Make sure to indicate your preferences on the form, if applicable.
8. Once you have completed all the required sections of the custodial account agreement form, review it again for accuracy and completeness. Make sure you have signed and dated the form where necessary.
9. Submit the completed form to the financial institution through their preferred method, whether it is by mail, fax, or online submission. Some institutions may require additional documentation, such as proof of identification or a birth certificate for the minor. Make sure to include any requested documents with your submission.

Who needs custodial account agreement?

1. Parents or legal guardians who wish to save and invest money on behalf of their minor children often need custodial account agreements. These accounts provide a way to hold assets for the benefit of the child until they reach the age of majority, usually 18 or 21 years old, depending on the state.
2. Grandparents or other family members who want to make financial gifts to minors may also utilize custodial account agreements. These accounts allow them to transfer assets to the minor, providing a way to save for their future or fund education expenses.
3. Some individuals may set up custodial account agreements for disabled persons, allowing them to manage and protect assets on behalf of the disabled individual.

In conclusion, anyone who wants to establish and manage a custodial account for the benefit of a minor or disabled person will need to fill out a custodial account agreement. It is important to carefully read and understand the terms of the agreement and provide accurate information to the financial institution.

For pdfFiller’s FAQs

What is custodial account agreement?

A custodial account agreement is a legal document that establishes the terms and conditions of a custodial account, which holds assets on behalf of a minor.

Who is required to file custodial account agreement?

The custodian of the account is required to file the custodial account agreement.

How to fill out custodial account agreement?

To fill out a custodial account agreement, the custodian must provide all necessary information about the account and the minor beneficiary.

What is the purpose of custodial account agreement?

The purpose of a custodial account agreement is to ensure that the assets in the account are managed and distributed according to the wishes of the custodian on behalf of the minor beneficiary.

What information must be reported on custodial account agreement?

The custodial account agreement must include information about the custodian, the minor beneficiary, the assets held in the account, and the terms of the agreement.

How do I complete custodial account agreement online?

Filling out and eSigning custodial account agreement is now simple. The solution allows you to change and reorganize PDF text, add fillable fields, and eSign the document. Start a free trial of pdfFiller, the best document editing solution.

Can I create an electronic signature for the custodial account agreement in Chrome?

Yes, you can. With pdfFiller, you not only get a feature-rich PDF editor and fillable form builder but a powerful e-signature solution that you can add directly to your Chrome browser. Using our extension, you can create your legally-binding eSignature by typing, drawing, or capturing a photo of your signature using your webcam. Choose whichever method you prefer and eSign your custodial account agreement in minutes.

How do I edit custodial account agreement straight from my smartphone?

The best way to make changes to documents on a mobile device is to use pdfFiller's apps for iOS and Android. You may get them from the Apple Store and Google Play. Learn more about the apps here. To start editing custodial account agreement, you need to install and log in to the app.