A custodial account is one of the financial services that are extended to minors provided that they have custodians. In said account, a person who is...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your ...
What is a custodial account and how does it work? A custodial account is generally any account opened and maintained by one party for another. However, custodial accounts are commonly thought of in one sense: an account controlled by an adult for the benefit of a minor, typically a family ...
What type of transaction is receiving a dividend? What is a 10% percent stock dividend? What is a custodial account? Who is guaranteed a dividend in a corporation? What is a cash account? What type of stocks pay regular dividends?
A custodial financial institution may charge you a custodial fee for the safekeeping of your money. How a Financial Custodian Works A financial custodian will send you a monthly or quarterly statement for your account letting you know what they are holding on your behalf. In addition to holdi...
If you have children and a low tax bill, you may need IRS Form 8812 to claim all of your Child Tax Credit.
of stock on the behalf of the actual owner. A shareholder of this type is accountable to the owner for how the assets are managed, with the terms of that accountability defined in a custodial agreement or other type of confidential document. As part of his or her responsibilities, the nomin...
The account exists to repay insured depositors when a financial institution fails, explained Greg McBride, chief financial analyst at Bankrate.com. "Where that fund comes into play is in the event that a bank fails because their liabilities exceed their assets," which may not ultimatel...
What is 401(k) matching? If your workplace has 401(k) matching, your employer contributes toward your plan. According tothe Plan Sponsor Council of America(PSCA), 98% of companies that offered a 401 (k) in 2023 matched their employees' contributions to some extent. ...
While there is no universal mutual fund early withdrawal penalty, there are circumstances wherein a mutual fund withdrawal could have financial consequences. Depending on the share class purchased, the type of account the fund is purchased in, and other miscellaneous requirements of the mutual fund ...
A commission-based advisor's income is earned mostly or entirely from the products they sell or the accounts that their clients open. A fee-only advisor is never paid a sales commission. Fee-based advisors often require a minimum account balance of $500,000 to $1 million. ...