Folio Investing offers a variety of account types, from taxable and retirement accounts to joint, business, and investment club accounts.

  • Personal Accounts
  • Individual
  • Joint – Rights of Survivorship
  • Joint – Tenants in Common
  • Joint – Community Property
  • Joint – Tenants by Entirety
  • Custodial (UGMA/UTMA)
  • Revocable Trust
  • Retirement Accounts
  • Rollover IRA
  • Traditional IRA
  • Roth IRA
  • SIMPLE IRA
  • SEP IRA
  • Beneficiary IRA
  • Business Accounts
  • Corporation-Type S
  • Corporation-Type C
  • General Partnership
  • Limited Partnership
  • Limited Liability Company – Type S
  • Limited Liability Company – Type C
  • Limited Liability Company – Partnership
  • Sole Proprietorship
  • Other Accounts
  • Investment Club
  • Irrevocable Trust
  • Unincorporated Organization

Retirement Accounts1

Roth IRA

When specific requirements are met, all earnings are tax-free upon withdrawal. You also have penalty-free access to your contributions at any time. To be eligible to contribute, you must have taxable compensation and meet adjusted gross income limits.

Traditional IRA

Savings may compound more quickly than those in a comparable taxable account but are taxable upon withdrawal. To be eligible to contribute, you must have taxable compensation and meet adjusted gross income limits.

Rollover IRA

Move your money directly from one retirement account, such as a 401(k) plan account or traditional IRA held at another institution, to a rollover IRA without incurring taxes or penalties.

SEP IRA

Use a SEP IRA if you are a self-employed individual, business owner, or individual who earns any self-employed income to save for retirement.

SIMPLE IRA

Use a SIMPLE IRA if you work for a company that offers a 5304 SIMPLE IRA Plan, which allows accounts to be opened at any brokerage firm. Download the appropriate Forms for you and your employer to sign and return to us.

Beneficiary IRA

IRAs that are inherited by a designated beneficiary after the IRA owner’s death are known as beneficiary IRAs. To set up a beneficiary IRA, create a new rollover IRA or Roth IRA account online, then download and complete the Beneficiary IRA Account Amendment Form.

Non-Retirement Accounts

Individual

Owned and used by one person. Non-U.S. residents cannot open accounts with us.

Joint

Owned by more than one person for the benefit of all account owners. When opening a joint account, you must provide information for both account owners, but only the primary owner will be charged the membership fee. There are several types of joint accounts—choose the one that is best for you.

  • Joint – Rights of Survivorship
    Each account owner owns the entire account. If an account owner dies, his/her share is equally distributed among the remaining account holders.
  • Joint – Tenants in Common
    Each account owner owns an equal percentage of the account. If an account owner dies, his/her share is transferred to his/her estate.
  • Joint – Tenants by Entirety
    Account owners must be married. Each owns half the account. If an account owner dies, his/her share is transferred to the spouse. The following states and jurisdictions recognize tenants by entirety joint accounts: Alaska, Arkansas, Delaware, District of Columbia, Florida, Hawaii, Maryland, Massachusetts, Missouri, Mississippi, New Jersey, Oklahoma, Pennsylvania, Rhode Island, Tennessee, Vermont, Virginia, and Wyoming.
  • Joint – Community Property
    Account owners must be married. Each owns half of the account. If an account owner dies, his/her share is transferred to his/her estate. The property does not automatically transfer to the spouse. The following states and jurisdictions recognize community property joint accounts: Arizona, California, Idaho, Louisiana, New Mexico, Nevada, Puerto Rico, Texas, Washington, and Wisconsin.

Custodial

This account type allows a custodian to invest on behalf of a minor child. Also known as Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) accounts.

Trust (Revocable and Irrevocable)

For assets held in a trust. The trust must be established before the account is opened. You must be an authorized trustee to open a trust account. We support both revocable and irrevocable trust accounts.

Transfer on Death (TOD) Beneficiary Designation

Designate beneficiaries to inherit your account assets without having to go through probate. To set up a beneficiary designation, download the Taxable Account Beneficiary Designation Form.

Business

For legal corporations, professional associations, or professional corporations.

Investment Club

Used by investment clubs for club investments. Accounts are opened under the tax identification number (TIN) of the investment club, and are often managed by the club treasurer.

  1. Governmental eligibility rules, contribution limits, taxes, penalties or withdrawal restrictions may apply.