How to Open an Equity Trust IRA Account

Equity Trust is a company located outside of Cleveland, Ohio. Equity Trust is highly experienced in implementing IRAs and other retirement accounts. It is licensed as a custodial trust, meaning this firm can legally be a trustee of your IRA. It is not a depository, however, which means Equity Trust cannot hold gold or other precious metals for your IRA. You can open an IRA account with Equity Trust easily.

Difficulty: Easy

Instructions

Things You'll Need:

• Downloaded application

1. Choose the type of IRA account you would like to open. Equity Trust offers the following IRA types: traditional, Roth, SEP and SIMPLE.

2. Educate yourself about Equity Trust's policies and fees before you open an account. You can expect to pay a one-time setup fee, as well as a yearly all-inclusive fee based on how much you have invested in your account(s). This amount is adjusted for inflation on January 1 of each year.

3. Visit the Equity Trust website and click on "Open an Account" (see Resources below).

4. Pick your method of starting your account. Click on "By Web" or "By Form Download." You can also choose to call the toll-free number to open your account by phone.

5. Fill out the appropriate paperwork to open your IRA. Follow instructions to print out your online application.

6. Sign your applications before mailing.

7. Send your completed application to Equity Trust. After confirming your information and signature, the company will open your account.

8. Wait for a letter from the accounts department signifying that your Equity Trust IRA account has been created.

9. Log in to your account using the account number from the letter you receive.

10. Make your investments from the options offered by Equity Trust. You can use a bank account or credit card to pay your fees.

Tips & Warnings

• Complete your application patiently, since your account will not be immediately opened. Keep in mind that Equity Trust, like many other online investment companies, still requires an original signature be sent through the mail rather than using an online e-signature. This is a very good way to safeguard your identity and ensure that you are actually the person opening the account.
• The more money you invest in your account at Equity Trust, the higher your fee schedule will be. However, unlike other companies, the fees here are all-inclusive, which means that you don't pay per trade or transaction.

Resources

• Open an account on the Equity Trust Company website.