charlitsai

thank you Mike P!

Thank you QDROphile and jpod! A related question: With one trust tax ID, can we open two or more investment accounts in different firms like Vanguard and Fidelity?

Hi, A TPA helped us to setup a DB Trust Plan and got a tax ID from IRS in Dec 2014. My question is do I have to open an investment account before Dec 31 2014 in a financial institution, e.g. Vanguard, to meet IRS codes so that we could contribute fund and get tax deduction for 2014? I got conflicting answers, some say no, we only need to establish an account before tax filing deadline (either March 15, 2015 or Sep 30 2015 for extension); other say yes - we have to setup at least one investment account before Dec 31 2014. Please help me to clarify with this issue - Thank you! Charli T