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Unit 13 - Types of accounts - retirement (7 qs) - Coggle Diagram
Unit 13 - Types of accounts - retirement (7 qs)
Types of accounts and registrations
Cash Account
Margin Account
Long Market Value :check:
Fee Based Account
Prime Brokerage Account
Delivery vs Payment (DVP) and Receipts vs Payments (RVP)
Pattern Day Trading account :check:
Individual Account
Multiple Owner Account
Joint Accounts
Joint Tenants with Rights of Survivorship (JTWROS)
Tenants in Common (TIC)
Community Property
Custodial Accounts
Transfer on Death (TOD) :check:
only be added to:
➡️ Individual accounts and ➡️ Joint Tenants with Right of Survivorship (JTWROS) accounts.
Sole Proprietorship
GPs
LPs
Limited Liability Company LLC
S corp
C Corp
ABLE account :check:
Tax advantage, before 26 handicap
Numbered account :check:
Day trading :check:
Account Opening Requirement
New Account form
Customer Identification Program (CIP)
help prevent Money Laundering
Opening Accounts for Other Members' Employees
Trusted Contact Person :check:
Regulation SP (Privacy Notices)
Power of Attorney (POA)
Full, Limited and Durable Power of Attorney
Account changes
Internal transfers
Bulk transfers
Negative response letter
Qualified and nonqualified retirement plans
Retirement plan :check:
Employer Sponsored retirement plans
Nonqualified plans - Not governed by ERISA
Deferred Compensation plan
Payroll deduction plan
Qualified plans
Collectibles and Naked options prohibited :check:
Individual retirement accounts
Traditional IRAs
Roth IRAs
Roth Conversions
Transferring IRAs :check:
Eduction IRA (Coverdell ESAs) :check:
after tax contribution, withdrawal tax free for education purposes
contribution limits: high income can't contribute
early withdrawals exemptions for IRAs :check:
contributions to IRA :check:
Employer-Sponsored retirement plans
Tax-sheltered annuities (403b plans)
Section 457 plans
Corporate sponsored retirement plans
Defined contribution and defined benefit plans
Profit-sharing plans
401k plans
Roth 401k plans
Additional corporate plans
Simplified employee pension (SEP IRA)
Savings Incentive Match for Employees (SIMPLEs)
Keogh plans
Employee Stock Purchase Plan (ESPP) :check:
Employee retirement income security act
ERISA provisions
Health Savings Accounts