Depending on applicable regulations or business limitations, specific API requests may not be available for your use.

Update an Account

This request updates the details of an account. Certain account information is not updateable by API (i.e., primary account owner, joint owners, minor, account type, and backup withholding), so the table below contains only those fields that are updateable.

Request URL

Syntax PUT /restapi/accounts/{accountnumber}
Example URL https://api.uat.foliofn.com/restapi/accounts/RA1234ABCD

Error Code

Please refer to Account Error Codes for the error codes that can be returned from this API.

Request Data Fields

Please refer to Create an Account for the format and available values for each field.

Field Account Types Note
accountName All

Letters, digits, spaces, and special characters are allowed. The maximum length of the field is 16 characters.

Unique Account Rule will be applied.

billingPlanOid All

Only accept an advisory billing plan OID. See Get All Billing Plans for how to find an advisory billing plan OID.

When the firm’s billing level setup is account level, updating this field will change the billing plan of the specified account. On the other hand, since all the accounts for each member are covered by only one billing plan, updating billingPlanOid of one account will impact all the other accounts. See billing level field for the description of different billing levels.

defaultTaxLotSelection Taxable Default tax relief method used by the account. See Tax Lot Relief Methods for available codes. Taxable account can be assigned with any available code except “AVGC”. Non-taxable accounts only accept “AVGC”. When this field is not specified during the account creation, the default value will be “Maximize Losses / Minimize Gains” (LGHL) for taxable accounts, and “Average Cost” for non-taxable accounts. See What is a tax lot selection method? further explanations for the different methods available.
longTermTaxRate Taxable

Long-term tax rate of the owner of the account. This is an input when using the “WLFS” or “WGFS” tax lot selection strategies. This field accepts a double value that ranges from 0.0 to 100.0.

Can only be updated when defaultTaxLotSelection is also presented.

shortTermTaxRate Taxable

Short-term tax rate of the owner of the account. This is an input when using the “WLFS” or “WGFS” tax lot selection strategies. This field accepts a double value that ranges from 0.0 to 100.0.

Can only be updated when defaultTaxLotSelection is also presented.

initContributionDate SIMPLE IRA The date of the first contribution to the IRA. The data format must follow ISO-8601 formatted date.
primaryBeneficiaries Retirement

The new primary beneficiary list will be used to replace the existing one. An empty list means the request is going to remove all the primary beneficiaries. In order to avoid unintentional updates, call Get an Account to retrieve the existing primary beneficiary list. See Beneficiary Fields for data format.

User text:

You can designate primary and contingent beneficiaries for IRAs. If more than one beneficiary is designated, be sure that the total percentage share adds up to 100%.

User text for selecting no primary beneficiary:

I do not want to designate any primary beneficiaries. I understand that when I die, the assets in my IRA will transfer to the default statutory designated beneficiary as specified in the IRA Custodial Agreement. We will charge your account the hourly fee for Special Services, for gathering, reviewing and processing documents required to validate and process IRA distribution requests if no beneficiaries are designated.
contingentBeneficiaries Retirement

The new contingent beneficiary list will be used to replace the existing one. An empty list means the request is going to remove all the contingent beneficiaries. In order to avoid unintentional updates, call Get an Account to retrieve the existing contingent beneficiary list. See Beneficiary Fields for data format.

This field should be supplied only if primary beneficiaries is not empty.

trustedContacts All The new trusted contact list will be used to replace the existing one. An empty list means the request is going to remove all the trusted contacts. In order to avoid unintentional updates, call Get an Account to retrieve the existing trusted contact list. See Trusted Contact Fields for data format.

Request Example

Updating account name, billing plan OID, and default tax lot selection.


PUT /restapi/accounts/ HTTP/1.1
Content-Type: application/json

{
  "accountName" : "New Name",
  "billingPlanOid" : "111111111111111113",
  "defaultTaxLotSelection" : "FIFO"
}

Updating primary beneficiaries


PUT /restapi/accounts/ HTTP/1.1
Content-Type: application/json

{
  "initContributionDate" : "2010-01-01T00:00:00.000-05:00",
  "primaryBeneficiaries" : [ {
    "SSN" : "123123123",
    "citizenship" : "U",
    "dateOfBirth" : "1988-12-05T00:00:00.000-05:00",
    "firstName" : "firstname",
    "lastName" : "lastname",
    "relationship" : "O",
    "sharePct" : "30"
  }, {
    "SSN" : "123123123",
    "citizenship" : "U",
    "dateOfBirth" : "1978-12-05T00:00:00.000-05:00",
    "firstName" : "firstname",
    "lastName" : "lastname",
    "relationship" : "O",
    "sharePct" : "70"
  } ]
}

Response Example


HTTP/1.1 200 OK
X-Powered-By: Servlet/2.5
Server: Sun GlassFish Enterprise Server v2.1.1
Location: https://api.uat.foliofn.com/restapi/accounts/RA1234ABCD
Content-Type: text/html; charset=iso-8859-1
Content-Length: 0
Date: Fri, 21 Feb 2014 18:08:56 GMT


Change Log

01/16/2018

  1. Added Trusted Contact

07/07/2016

  1. Updated text

04/29/2016

  1. Added Change Log

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