Help Center

Open an Account

*Note: Depending on your user access level, and if you have an advisor who can access your account, some of the functions described here may not be available to you, or may be performed by your advisor.

What types of accounts do you offer?

We offer general investing, retirement, corporate and trust accounts. View more account types here.

How do I open an account?

To open an account:

  1. Use the link provided by your financial services firm to access the online account opening process
  2. Review your financial services firm’s information and terms, then agree to move onto our account opening path
  3. Choose an account type, enter all of the required information and select Continue
  4. Enter all required fields throughout the account opening process
  5. Review your account information and certifications, check I Agree and select Submit

If you need an account opening link contact your advisor or broker.

How do I add an account?

To add an account:

  1. Under Account Actions select Add Account
  2. Choose the account type and enter an account name, then select Continue
  3. Review the pricing information and select Continue
  4. Review your account information and select Continue
  5. Review the account certifications, check I Agree and select Submit

What are the password requirements?

  1. Passwords must be at least 10 and no more than 64 characters
  2. Passwords must contain at least one uppercase letter, at least one lowercase letter, at least one number or symbol, and can include spaces.
  3. Passwords are case sensitive.
  4. If resetting your password, you may not use your existing password

Suggestions for maintaining a strong password:

  • Change your password frequently.
  • Do not use simple modifications of your previous passwords.
  • Do not use personal information (name, birthday, anniversary, etc).
  • Avoid common, easy to guess words.
  • Use different passwords for different sites.

Permanent Residence

If you live in more than one state, you will need to determine which is your permanent residence. All states have different definitions of permanent residency. For tax purposes, these definitions often depend on:

  • How many days of the year you spend in a particular state,
  • Whether you keep a residence in a particular state, and
  • Whether you are “domiciled” in a state, based on where they work, live, keep financial assets, vote, and register their car among other things.

You may find more information on the state’s official website.

How do you define a U.S. person?

For federal tax purposes, you are considered a U.S. person if you are:

  • An individual who is a U.S. citizen or U.S. resident alien,
  • A partnership, corporation, company, or association created or organized in the United States or under the laws of the United States,
  • An estate (other than a foreign estate), or
  • A domestic trust (as defined in Regulations section 301.7701-7).

(Source: 2011 IRS Form W9)

What is the difference between a Resident Alien and Non-resident Alien

Resident Alien

A person is considered a resident alien if they hold an immigrant visa, also known as a green card, or they meet the substantial presence test. To meet the substantial presence test, a person must have lived in the US for:

  • 31 days during the current year, and
  • 183 days during the current year and previous two years combined.

Resident aliens may open an account with us.

Non-Resident Alien

A person is considered a non-resident alien if they are not a U.S. citizen and do not meet the resident alien guidelines above. Non-resident aliens cannot open accounts even if they have a current U.S. residence.

If a non-resident alien opens an account at Folio Financial, Inc., then moves out of the U.S., their account will be restricted. They will be asked to liquidate their holdings or transfer them to another brokerage.

Can I open a foreign account?

Accounts are currently available only to U.S. Citizens and U.S. Permanent Residents with a U.S. address.

Is there a required minimum account balance?

There is no required minimum account balance to invest on our platform. However, if your account is advised your Advisor’s Firm may have account balance minimums applicable to you.

What are the requirements to opening an account?

To open an account, you must meet the following requirements:

  • 18 years of age or older
  • U.S. Citizen or Resident Alien (U.S. Permanent Resident)
  • Valid Social Security Number or Individual Tax Identification Number
  • Valid U.S. address

Am I subject to federal backup withholding?

Most people are not subject to federal backup withholding.

The IRS notifies taxpayers if they are subject to backup withholding. Any of the following reasons may cause your account to be subject to backup withholding:

  • You received specific notification from the IRS stating that you are subject to backup withholding
  • You fail to furnish your taxpayer identification number on Form W9
  • You provide the wrong taxpayer identification number
  • You ignore notices from the IRS claiming that you have under reported interest or dividend income on your tax return

Important: If you have been notified by the IRS concerning your backup withholding status, you must state so when opening a Folio Investing account. If you are unsure of your backup withholding status, all questions should be directed to a tax advisor or the IRS.

How is Total Net Worth calculated?

Total Net Worth as defined by the Financial Industry Regulatory Authority is the value of your assets minus your liabilities.

Assets include stocks, bonds, mutual funds, other securities, bank accounts, and other personal property. Do not include your primary residence among your assets.

Liabilities include any outstanding loans, credit card balances, taxes, etc. Do not include your mortgage unless a portion of your mortgage debt is greater than the estimated fair market value of your residence, in which case include the amount in excess of the estimated fair market value. In addition, if you incurred additional mortgage debt in the last 60 days—other than as a result of the acquisition of your primary residence include that debt as a liability as well.

How is Liquid Net Worth calculated?

Liquid Net Worth as defined by the Financial Industry Regulatory Authority is your net worth minus assets that cannot be converted quickly and easily into cash, such as real estate, business equity, personal property and automobiles, expected inheritances, assets earmarked for other purposes, and investments or accounts subject to substantial penalties if they were sold or if assets were withdrawn from them.

Examples of liquid assets:

  • Cash
  • Money market funds
  • Checking account funds
  • U.S. Treasury bills
  • Shares of large blue chip stocks that are actively traded

Assets that would not be included here are those that you cannot sell for a fair price quickly and easily. Examples of illiquid assets:

  • Houses
  • Automobiles
  • Antiques
  • Stocks of small private companies