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IRA's - Individual Retirement Accounts
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**Specialized Forms
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Additional
forms such as Trading Authorizations, Wire Transfers, W8's etc... are only
required depending on specific circumstances. Those forms can be downloaded
here.
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| Traditional
(Individual Contributory) IRA |
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Roth
IRA |
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Rollover
(Non-Contributory) IRA |
A
Traditional IRA (also called a Contributory IRA) can be established by an
individual to save money for retirement. Up to $2,000 a year of tax-deferred
earned income can be placed in an IRA until the account owner turns 70½
years old. An individual can also contribute an additional $2,000 a year
of earned income to a separate IRA for a non-income-earning spouse. Taxable
distributions from an IRA can be taken without penalty starting at age 59½
and must be started by April 1 after the individual has reached 70½.
Required forms:
New Account Download
Traditional IRA Form Download
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A
Roth IRA is similar to a Traditional IRA. However, while contributions to
a Traditional IRA are tax-deductible (with some exceptions) and withdrawals
are taxed, contributions to a Roth IRA are taxed, but qualified withdrawals
are tax-free. After a Roth IRA has been in existence for five years, withdrawals
are not taxable if, 1) the account owner turns 59½ years old; or 2) the
withdrawal (up to $10,000) is used for the first-time purchase of a home.
Required Forms:
New Account Download
Roth IRA Simplifier Download
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A
Rollover IRA is designed as a holding account for funds distributed from
an employer's qualified retirement plan such as a 401(k) or 403(b). Moving
funds into a Rollover IRA allows the account owner to return the funds to
another qualified retirement plan in the future.
Required forms:
New Account Download
Traditional IRA Form Download
Rollover - IRA Transfer- Form Download
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| Sending
the Forms |
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Sending
the Forms |
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Sending
the Forms |
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Simplified Employee Pension (SEP) IRA |
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Savings
Incentive Match Plan for Employees (SIMPLE) IRA |
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Education
IRA |
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SEP IRA is for self-employed individuals and for use by small companies
for qualified employees. SEP contributions are limited to 15% of an individual's
annual income, never to exceed $30,000.
Required Forms:
New Account Download
SEP IRA Form Download
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A
SIMPLE IRA is an employer-operated savings plan that features employee tax-deferred
contributions and matching contributions by the employer. Employers with
100 or fewer eligible employees who do not maintain another retirement plan
are eligible to establish a SIMPLE IRA. The employer makes all contributions,
which are limited to annual contributions of $6,000 in employee-elected
deferrals and $6,000 in employer contributions.
Required Forms:
New Account Download
Simple IRA Download
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An
Education IRA is an investment tool created for the purpose of paying for
the future cost of a child's post-secondary education. The plan allows total
after-tax contributions of $500 per year for each child until they reach
the age of 18. These contributions and their subsequent earnings are tax-free
when withdrawn to pay for qualified education expenses.
Required Forms:
New Account Download
Education IRA Form Download
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| Sending
the forms |
For funding
of your new IRA account attach check or money order payable to WallStreet
Electronica, Inc. or Ridge Clearing. You can also attach an IRA
Transfer Form in case you are transfering securities from another IRA
account.
If you are wiring funds please obtain a new IRA account number
from our new accounts deparment and then submit the following wire
instructions to your bank.
For immediate processing
please fax completed and signed forms to (305) 661-7402. Original
copies should be mailed or Fed-Ex to:
WallstreetE New Accounts
4501 Monserratte St.
Coral Gables FL, 33146
United States of America
Contacting WallstreetE:
E-Mail: newaccounts@wallstreete.com
Telephone: (888)-925-5783 or (305)-266-9120
Toll Free:(within the U.S.) 1-888-WALL-STE(1-888-925-5783)
Fax: (305)661-7402
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| Additional
Accounts |
| Most
Common Accounts |
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