What custodians accept IRA/Roth accounts for children?

[John G]

READERS: post your experiences as to who does and who doesn't allow minor children IRAs. This will save some folks time in finding a custodian.

John G - moderator

[John G]

Etrade - not allowed unless 18 years of age

Charles Schwab - allows IRAs/Roths below age 18, but some adult must be the guardian of the account, allows basic investments of stocks/bonds/mutual funds.

[jane123]

Pershing LLC (www.pershing.com) allows IRAs to be established for minors. In fact, they allow SEPS, SIMPLES and QRP accounts to be established for a minor child, providing the account is established as a “guardian” account, with the parent or legal guardian handling the investment direction and any other transaction that requires authorization from the account owner.

Account subject to the same investment and other rules as other IRAs

You have to use one of the Broker-dealers who clears through them

The time stamp on this board is wrong. Right now it is 3.30 pm. But the time stamp will say differnt

[Guest amfam2]

American Family Life Insurance Company will issue an IRA annuity for a child as well, following similar procedures as Pershing in that we will need a designated guardian for the child.

No annual maintenance fee. $250 minimum contribution for fixed annuity (w/guaranteed minimum of 3% interest, depending on the state of residency). $750 minimum for our variable annuity.