How to Change Trading Name for a Sole Trader

Changing the name of an account where you are the sole trader is a relatively simple process. There are a few different reasons why you might want to do this, but the most common is a name change due to marriage, or perhaps a legal change of name. However, this procedure differs from putting the account in someone else's name or adding a name to the account.

Difficulty: Moderately Easy

Instructions

1. Contact your trading account provider and inform them that you are going to change your name on the account. Ask them what forms you will need to complete in order to accomplish this.

2. Get a copy of the legal document (such as your marriage license) that authorizes and lists your new name. Do not send them the original; you must keep this for your own records.

3. Complete all of the paperwork provided by your trading account firm completely and correctly. Include the copy of your change of name. Your account provider may allow you to scan your forms and email them.

4. Check your account after you send the forms and make sure that your new name is listed correctly on the account. Contact your account custodian immediately if this is not the case. Also keep a copy of these forms for your records.

5. Repeat this process for all trading and other accounts that you own. You may need to make several copies of your change of name document in order to accomplish this. Also make sure that all other account information remains unchanged.

References

• Scottrade Website
• TD Ameritrade Website