Find the answers you need here. Additionally, on our own initiative and at no additional cost to you, optionsXpress has secured excess SIPC coverage offering your account additional account protection beyond the standard SIPC limits. For more information, please see our Cash Features. For more information please see the Customer Identification Program Notice from FINRA. Clients will be authorized to trade options after being reviewed based on experience and financial background among other criteria. Accounts will receive one of the following option trading levels:. Domestically, most US persons can qualify for Electronic Signature applications for personal and retirement accounts, meaning they can be opened that same business day. Otherwise, accounts are generally opened within one or two business days of our receipt of the signed new account application documentation. The cut-off for any deposit is Please see the Transfer Funds FAQ for more information. It is always a good idea to review the account transfer process before submitting the request. Please feel free to talk to a customer service representative to help ensure that there are no known problems with a request. Some of the most important steps to consider are:. When transferring between unlike account registrations it is best to check to see what documentation the delivering firm may require. The list below is not exhaustive—please contact us for more detailed information if you are transferring account types not listed See next FAQ for IRA registration requirements. Registrations for retirement account transfers should match exactly. However, there may be a few exceptions:. If an account includes any non-transferable securities, it may delay the transfer. If submitting an ACAT transfer, the prior firm is required to transfer all acceptable securities or assets through the ACAT system and verify with you how to handle the remaining assets. You generally have two choices:. It is an industry-wide practice to request a copy of the most recent statement from the delivering firm to help control transfer problems and protect our customers from incorrect movement of assets. The statement needs to include all of the following pre-printed information hand written comments will be rejected:. This statement should not be more than three 3 months old. If you do not have a current statement, you may request a duplicate copy from the delivering firm or provide any document s that combine all the above information as this may potentially be used to meet the requirement. In the case of a Depository Trust Company DTC transfer, instructions are accepted via fax or e-mail except in the case of a charitable donation where the account titles do not match. In such cases a signed Letter of Authorization LOA is required including all of the information below. The LOA can be mailed or faxed. Once the information below is received, the DTC process takes approximately three 3 business days. You will need to contact the delivering firm first and give them instructions as to where to send the assets. They will likely ask for the following:. Once you have submitted your instructions to the delivering firm, please also provide the following information via email to optionsXpress:. To initiate a DRS transfer, you will need to provide us with the following information via fax or e-mail:. Once the information above is received, the DRS process will take approximately 3—5 business days. You will need to contact the agent or company to find out if any of those shares are eligible to be moved into the DRS account. Fractional shares cannot be delivered via DRS. If your remaining account balance is less than a full share, you may need to contact the transfer agent or company and ask for the fraction to be liquidated and the cash proceeds mailed to you. Often, that will be done for you automatically. Please be aware that many transfer agents charge a reject fee if provided information that does not correctly and exactly match their records. If you have provided us with incorrect information, these fees may be passed along to you. We accept personal checks where the registration on the check is the same as the optionsXpress, Inc. The name on the check to be deposited must match the registration on the optionsXpress account. We do NOT accept third party deposits i. We do not accept checks payable to optionsXpress from non-account holders or checks where a recipient makes an endorsement over to optionsXpress. Please make sure the account name and optionsXpress account number are printed on each check. For an IRA check deposit, please indicate contribution year. If your check is for a new account, please attach your signed Account Application and any applicable supporting documents. If you already have an account number, Printable Deposits Slips are available login required. Once the check is received by optionsXpress, an e-mail confirmation will be sent with deposit details. Certified funds will be available next day. Personal checks are normally available in 3—5 business days. However, express may be held up to 10 business days or longer depending on various circumstances. Please note before wiring funds, a new account application must be received, processed, and an account number assigned. We do NOT accept third-party wires or wires from third-party money transfer services. Wires must be generated from a financial institution at which you have an account where the registration matches to your optionsXpress account. Applicable instructions, depending on currency and country of initiation, are noted below. The ACH set-up process can be initiated by clicking the Establish ACH link on the Transfer Funds page. Once we receive the signed ACH application, we will notify you through a series of e-mails of the steps needed to verify your link. The final email will also supply you with more detailed instructions on how to use the service. Once ACH is established, a request to deposit funds can be made on the Transfer Funds page under the Account tab. All ACH deposit requests must be received by 3: All other requests will be processed on the following business day. ACH deposits will be available for trading on the third business day after processing. Please note before transferring funds, your optionsXpress account application must be received, processed, and an account number assigned. You must enroll for On-line Bill Pay at your bank or financial institution. Once you have signed up, you may use On-line Bill Pay to complete electronic funds transfers to optionsXpress. Please note that the bank account registration must match to your optionsXpress account. Log into the bank account you wish to make your transfer and input optionsXpress as the Payee and address or zip code if required of S. Wacker, 12th Floor, Chicago, IL In the Payee account number field, input your optionsXpress account number in the following format For an IRA contribution, please add the year directly after your account number with no spaces or dashes ie. It takes business days for funds to be available in your optionsXpress account when you use electronic Bill Pay. Please note your Bank may initiate your first online billpay to a new payee as a check sent through the U. Please allow up to 10 business days for the billpay to reflect in your account. For added security, we recommend that you send your certificate s using a method that can be tracked e. FedEx, UPS, Registered or Certified Mail. Please mail your certificates to:. To open an IRA. Visit here or click on the "Open Another Account" link at the upper right of your optionsXpress account. The "New Account Application" screen will appear. Under "What Kind of Account"click on the appropriate account entity type. A Traditional IRA is an Individual Retirement Account in which the contributions are tax-deductible if eligibility requirements are met. Please consult with your tax advisor as your income, filing status, and other retirement plans may affect your eligibility. Earnings within a Traditional IRA are tax-deferred until withdrawals begin. Anyone, who received taxable compensation during the tax year. If filing jointly, their spouse. Eligible distributions may be taxed at the current tax rate. Please consult with your tax advisor prior to taking a distribution. There are several options available for making your yearly contribution. Detailed below are the acceptable funding methods:. Check deposit mailing address: Box Chicago, IL An individual retirement account that allows a person to make after-tax contributions. As with all IRAs, there are specific eligibility and filing status requirements mandated by the IRS. Please express with your tax advisor regarding your individual filing status. You may withdraw funds at any time, however; please keep in mind that the distribution has to meet the IRS' guidelines to qualify for a tax and penalty free distribution. Please consult with your tax advisor on the qualifications for taking such a distribution. Beginning inthere is no gross income limit for converting a traditional IRA to a Roth IRA. You may request a partial or full conversion of your retirement account. Please be aware a conversion may be a taxable event in the year the conversion takes place. If you are self-employed and are making contributions based on earned compensation, you may send funds directly to optionsXpress. You may want to consult with your tax advisor prior to taking a distribution. A SIMPLE IRA is a retirement plan that may be established by employers, including self-employed individuals usually less than employees. This type of plan allows eligible employees to contribute part of their pretax compensation to the plan. This means the tax on the money is deferred until it is distributed. If your employer offers a SIMPLE options you may participate. If you options an employer, you may start a SIMPLE for your employees. If you are a participant in another plan under a collective bargaining agreement you may not qualify for a Simple IRA. You may withdraw funds at any time, however; unlike Traditional and Roth IRAs a Simple IRA has a Two-Year waiting period prior to taking a distributions. A Coverdell Education Savings Account ESA is an account created to assist families in funding educational expenses for Beneficiaries under the age of 18 or special needs. Contributions to a Coverdell Education Savings account are not tax deductible. Distribution may be taken at any time for qualified education expenses. No penalty exists for withdrawals due to death, disability or scholarship. The balance remaining in the Coverdell ESA must be distributed or transferred to another eligible family member prior to the beneficiary attaining the age of A Rollover IRA is a Traditional IRA that is often used by individuals who have changed jobs or retired and have assets in their employer-sponsored retirement plan, such as a kb Defined Benefit Plan etc. But, if you would like to trade futures in your IRA account, first think carefully and understand the risks. Futures trading is highly speculative and involves the potential for loss. If you have considered the risks, the answer is that futures and futures options can be traded using qualified assets, including those held within an IRA plan. However, in order to trade these products, you will need to establish a relationship with a Custodian who will allow you engage in this activity. While optionsXpress neither endorses nor recommends any third party provider to act as a custodian for your IRA assets, we are aware of a few companies that permit self-directed trading in certain leveraged financial instruments in IRA accounts. Below is a choice available that you may wish to consider: Millennium Trust You may fax or mail your completed IRA application and additional paper work to. Yes, we allow trading of equity and index options in IRAs based on the trading level assigned to an investor. Trading in IRAs includes call buying, put buying, cash-secured put writing, spreads, and covered calls. Please refer to our futures FAQs for questions regarding futures and futures options fxcm in IRAs. No, as margin is not permitted per the IRS' rules and regulations. However; we do allow for more advanced equity and index option trading based on the options level assigned to each investor. The following restrictions do apply to all IRA accounts:. Please note these are maximum contributions dependent on both your modified Adjusted Gross Income and Tax Filing Status. This information should not be construed as providing individual tax or legal advice. Every investor is different and the best type of retirement account depends on your taxable income, age, family status and meeting IRS eligibility requirements. Please consult with your own tax or financial advisor to help you determine which type of retirement account s will work best for you regarding your own individual situation. Didn't find what you needed? Content and tools are provided for educational and informational purposes only. Any stock, options, or futures symbols displayed are for illustrative purposes only and are not intended to portray a recommendation to buy or sell a particular security. Products and services intended for U. Online trading has inherent risk. System response and access times that may vary due to market conditions, system performance, volume and other factors. Options and futures involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options and Risk Disclosure Statement for Futures and Options on our website, prior to applying for an account, also available by calling An investor should understand these and additional risks before trading. Multiple leg options strategies will involve multiple commissions. Member SIPC "Schwab" and optionsXpress, Inc. Deposit and lending products and services are offered by Charles Schwab Bank, Member FDIC and an Equal Housing Lender "Schwab Bank". How long have you been in business? Where are you physically located? How are accounts protected? Are the funds in the Deposit Accounts insured? How do I contact optionsXpress during business hours? We were founded by an experienced management team dedicated to providing investors with an innovative, leading-edge trading environment. Back to top How long have you been in business? We were founded in February ofand we opened our web site on November 22, Back to top Where are you physically located? Our main office is at the following address: Wacker, 12th Floor Chicago, Illinois Back to top How are accounts protected? Back to top Are the funds in the Deposit Accounts insured? Back to top How do I contact optionsXpress during business hours? You may call us at You may also chat online with customer service or trading staff using our. Back to top Trade from your computer at home or on the go, and follow your securities in real-time. Do you offer any trading advice? What trading products does optionsXpress offer? What types of educational services are available? Can I get streaming quotes? Our accounts are for self-directed investors. We employ brokers to assist you with technical questions, as well as other general questions relating to strategy and trading. Additionally, our representatives may provide educational assistance, and FREE broker-assisted trades, but they do not provide any trading recommendations. Back to top What trading products does optionsXpress offer? We offer trading in futures, mutual funds, stocks, equity and index options, ETFs and bonds—all on ONE platform. Back to top What types of educational services are available? In addition to a full range of FREE curriculum-based tutorials and on-demand webinars, we also offer live webinars and occasional on-site workshops. Back to top Can I get streaming quotes? Back to top Opening an account is easy. Find out all you need to know before you begin. Is there a minimum amount required to open an account? How do I transfer an account into optionsXpress? Do you open accounts for people outside the U. Why do I have to disclose personal information to open an optionsXpress account? What are the requirements when I provide a government photo ID? What level of options trading will a customer be approved for? If I open an account online, do I still need to send in paperwork? Can I fax or email my account paperwork? What types of accounts do you offer? When will an account be ready for trading? Please review your trading strategy and fund the account to the appropriate level. Back to top How do I transfer an account into optionsXpress? An Account Transfer Form will need to be completed and returned to us with a copy of the most recent statement showing the title of the account, the account number, and an asset list. A signed account transfer form is required for each account being transferred to us. For more detailed information on transfers, please see the Account Transfer FAQ. Back to top Do you open accounts for people outside the U. Yes, upon our review and at our discretion we accept unsolicited accounts from non-U. Although our account opening process is geared toward opening accounts for persons with a U. Please note that we are a U. We offer only U. Back to top Why do I have to disclose personal information to open an optionsXpress account? Back to top What are the requirements when I provide a government photo ID? All three of the following requirements must be met when providing a photo ID: Back to top What level of options trading will a customer be approved for? Accounts will receive one of the following option trading levels: Back to top If I open an account online, do I still need to send in paperwork? The initial account process begins online and will prompt you to print out and sign the application at the end. Please note that optionsXpress may request additional information, such as a photo ID, to set up your account. On October 1st,new U. Back to top Can I fax or email my account paperwork? Most of our account documents are accepted fxcm fax. Certain forms may require originals: The three main types of accounts available for trading at optionsXpress are cash accounts, margin accounts, and futures accounts. We also offer multiple types of retirement accounts, including traditional, Roth, SEP and simple IRAs. Back to top When will an account be ready for trading? Back to top We offer quick and easy ways to transfer existing accounts to optionsXpress. What is your account transfer process? How do I initiate a full account transfer from another firm to an optionsXpress account? How long will it take for an account transfer to start? How long will it take to transfer an account to optionsXpress? What can be done to help ensure a successful, quick transfer? How do I initiate a transfer with unlike account registrations? What is an acceptable individual retirement account IRA transfer? Are there any special IRA transfer issues that I should be aware of? What types of assets cannot be transferred? Will dividend reinvestment transfer? What address for the delivering firm is needed on the transfer form? What does the statement have to show, and why is it needed? Who should I contact regarding residual balances left behind at the delivering firm? Why did the account come over with a debit? How do I initiate a DTC transfer? How do I initiate a DRS transfer? Our account transfer process can be found here. Back to top How do I initiate a full account transfer from another firm to an optionsXpress account? To initiate a full ACAT Automated Customer Account Transfer log in to the optionsXpress account you wish to receive the transfer and click on the Account tab, then Transfer Funds. In the Related Links box, click Account Transfer Application. Simply complete the form then print, sign and send us the original documents along with a copy of the most recent statement from the delivering firm please refer to the specific statement requirements below. Once we receive and review the account transfer form and statement we will initiate the transfer request. For optionsXpress accounts that clear directly though optionsXpress, use DTC and OCC number Back to top How long will it take for an account transfer to start? Please allow 1—2 business days from the time we receive the transfer request to review the documents. If there is a problem or if we require additional information to process the transfer, you will be notified via e-mail, otherwise you can expect an automated message letting you know that the transfer is in progress. Back to top How long will it take to transfer an account to optionsXpress? Accounts that are eligible for transfer via the electronic ACAT system typically settle within 5 to 8 business days from the time we receive and process your instructions. For non-ACAT transfers there are no set guidelines, but standard delivery can take up to 30 days. The length of time it takes to transfer an account may vary depending upon factors such as the assets involved, the type of account, and the institutions between which the transfer occurs. Back to top What can be done to help ensure a successful, quick transfer? Some of the most important steps to consider are: For margin debits, confirm that the account meets our minimum requirements Confirm that we can hold any mutual funds you would like to transfer Ensure registrations match or that required supporting documentation is included Avoid trading during the transfer process as it may stop or delay the process. To avoid potential problems, many firms freeze an account while a transfer is in process. Back to top How do I initiate a transfer with unlike account registrations? From an Individual to Joint account This type of account transfer requires all account holders to sign a Letter of Authorization LOA and an account transfer form. From a Joint to Individual account This type of account transfer requires all account holders to sign a Letter of Authorization LOA and an account transfer form. In addition, the account holder that is giving up account ownership must provide a Medallion Guarantee for his or her signature. From an Individual to Trust account This type of account transfer requires all account holders and trustees to sign a Letter of Authorization LOA and an account transfer form. From a Trust to Individual or Joint account This type of account transfer is only acceptable when the trustee s named are identical to the individual or joint account. This type of account transfer requires all account holders to sign a Letter of Authorization LOA and an account transfer form. Below is a list of unacceptable retail account transfers: However, there may be a few exceptions: Traditional IRA to Rollover or Rollover to Traditional IRA Simple IRA to a Traditional or Rollover with proof that the Simple IRA has been established for more than two years Conversion Roth to Roth or Roth to Conversion Roth Back to top Are there any special IRA transfer issues that I should be aware of? Back to top What types of assets cannot be transferred? Any mutual fund holdings should be confirmed with a customer service representative prior to submitting your request as there may be some mutual funds that we cannot hold Securities sold exclusively by the prior firm proprietary fundsincluding any money market funds Limited partnerships Annuities CDs Bankrupt securities or securities under reorganization If an account includes any non-transferable securities, it may delay the transfer. You generally have two choices: Sell the non-transferable securities or assets and transfer cash Leave the securities with the prior firm. Back to top Will dividend reinvestment transfer? If you currently participate in a dividend reinvestment program DRIP with the delivering firm, it will not automatically transfer. To initiate a new DRIP with optionsXpress, please e-mail us to initiate the process. Back to top What address for the delivering firm is needed on the transfer form? If the firm the account is transferring from appears in the dropdown menu on our ACAT form then it is ACAT eligible and we do not need an address for the delivering firm. Please note that we require a physical address not PO Box as non-ACAT requests are sent via delivery confirmation. Verify the exact address for a transfer request with the delivering firm to help avoid any potential delays. Back to top What does the statement have to show, and why is it needed? The statement needs to include all of the following pre-printed information hand written comments will be rejected: Mutual funds with fractional shares will transfer. However, equity fractions will not transfer as they are a manufactured product of a brokerage firm and as a result are not recognized by Depository Trust Company DTC. When requesting a transfer of assets that include equity fractional shares, the delivering firm will issue Cash-in-Lieu CIL for the fractional shares. Back to top Who should I contact regarding residual balances left behind at the delivering firm? The delivering firm is obligated to sweep all accounts for at least six 6 months after the transfer is completed. Unfortunately, we will not have access to or the authority to make demands regarding residual balance transfers. You will need to contact the delivering firm directly to provide instructions for any residual balance or to obtain delivery information. Back to top Why did the account come over with a debit? We do not charge a fee to receive an account. The delivering firm may charge a transfer out fee fxcm cover administrative costs. These fees should have been a part of the terms and conditions for the previous account and may be the cause of the current debit. Back to top How do I initiate a DTC transfer? To initiate a DTC transfer into optionsXpress You will need to contact the delivering firm first and give them instructions as to where to send the assets. They will likely ask for the following: To initiate a DRS transfer, you will need to provide us with the following information via fax or e-mail: This is necessary only if it is not exactly the same as your account at optionsxpress. For example, we would need to know if the names on a joint account were in different order. The number of whole shares you wish to transfer This documentation should be signed and dated by all account holders And, for verification purposes, please send a copy of your latest statement for the account holding the shares Once the information above is received, the DRS process will take approximately 3—5 business days. Back to top We offer quick and easy ways to deposit or withdraw funds from your account. How do I deposit checks into an account at optionsXpress? How do I do a wire transfer into an account? How do I establish ACH service for accounts at optionsXpress? How do I use on-line billpay to deposit funds at optionsXpress? How do I deposit a security certificate into an account? How do I withdraw or transfer funds from an account? Box Chicago, IL Delivery by courier service which requires signature or delivery confirmation: Wacker, 12th Floor Chicago, Illinois Back to top How do I do a wire transfer into an account? General Instructions Please note before wiring funds, a new account application must be received, processed, and an account number assigned. Funds may NOT be wired into an IRA account. Funding will generally be available same day after wire receipt. Please note the wire instructions cannot be used for ACH transactions. Wire Instructions Wire Instructions for accounts that clear through optionsXpress, Inc.: Back to top How do I use on-line billpay to deposit funds at optionsXpress? Back to top How do I deposit a security certificate into an account? To mail a stock certificate for deposit into an account, follow the instructions below: Sign your name on the back of the certificate exactly as it is spelled on the front of the certificate. All names listed on the certificate must endorse the back. View sample stock certificate. You will then need to appoint our clearing agent, optionsXpress, Inc. For new accounts, please include your username. Please mail your certificates to: Wacker, 12th Floor Chicago, Illinois Back to top How do I withdraw or transfer funds from an account? You have several options when withdrawing or transferring funds from optionsXpress. By Check You can request a check simply by logging into the account and clicking on the Transfer Funds link under the Account tab. By Wire Transfer A wire can be initiated by logging into the account and going to Transfer Funds under the Account tab. All required information will need to be completed. By Check Writing U. Once the checking form has been received, it takes approximately 1—2 weeks to receive the checkbook. You will need to complete the ACH Applicationsign it, and return the original to us. Once we receive your signed ACH Application, we will notify you through a series of e-mails of the steps to verify your link. All other internal transfer requests require a Letter of Authorization. Back to top Find out all you need to know about IRAs before you begin. What are the types of IRA accounts that I can open at optionsXpress? How do I set up an IRA with optionsXpress? What is a Traditional IRA? Who is Eligible for a Traditional IRA? When can you withdraw from a Traditional IRA? What are the key advantages of a Traditional IRA? How do I make a contribution to my Traditional or Roth IRA? How long does it take to fund my IRA? Can I make a contribution to my Traditional or Roth IRA from a business account? What is a Roth IRA? Who is Eligible for a Roth IRA? When can you withdraw from a Roth IRA? What are the key advantages of a Roth IRA? How do I request a conversion to a Roth IRA? What is a SEP IRA Simplified Employee Pension? Who is Eligible for a SEP IRA? What are the key advantages of a SEP IRA? How do I make a contribution to a SEP IRA? When can you withdraw from a SEP IRA? What is a SIMPLE IRA? Who is Eligible for a SIMPLE IRA? What are the key advantages of a SIMPLE IRA? When can you withdraw from a SIMPLE IRA? What is a Coverdell Education Savings Accounts - ESA Educational IRA? Who is Eligible for a Coverdell Education Savings Account - ESA Educational IRA? What are the Key advantages of a Coverdell Education Savings Account - ESA Educational IRA? When can you withdraw from a Coverdell Education Savings Account - ESA Educational IRA? What is a Rollover IRA? Who is eligible for a Rollover IRA? What are the key advantages of a Rollover IRA? When can you withdraw from a Rollover IRA? Can I roll over an existing K into an optionsXpress IRA? Can futures be traded in an IRA? Where do I mail or fax my application or supplemental documentation to? Do you allow equity and index options trading in optionsXpress IRAs? Do you offer Margin in an IRA account? How long will it to take to transfer an IRA from another firm to optionsXpress? What are the IRA contribution limits for ? What is my required minimum distribution? Do you have IRA calculators available? With the ability to trade options, stocks, bonds and mutual funds. Open an Account Back to top How do I set up an IRA with optionsXpress? The system will prompt you through the steps to create your account. Select the specific type of IRA that you want to create Upon completion, you will be prompted to submit your documents electronically and if applicable or to print the forms. A SEP IRA requires form SEP, a Coverdell IRA will require form E, and a SIMPLE IRA requires form SIMPLE Articles I through VII. If you have to print the forms or you choose to print the forms, please be sure to sign the IRA Account Application on the "X CUSTOMER SIGNATURE" line, and sign the IRA Designation of Beneficiary form on the "IRA HOLDER" line. After printing the application, you may fax the application and all required documents to to expedite your application. Please feel free to contact us at should you have any questions regarding this process or if you need further assistance. Back to top What is a Traditional IRA? Please read important IRA disclosure information. Back to top Who is eligible for a Traditional IRA? Refer to IRS Pub A for more information at http: Refer to IRS Pub B for more information at http: Contributions may be tax-deductible if eligibility requirements are met. Within your IRA, you are able to trade stocks, ETFs, bonds, mutual funds and options. Back to top How do I make a contribution to my Traditional or Roth IRA? Detailed below are the acceptable funding methods: ACH Deposit - Deposit via ACH with an established ACH Link. You must specify the contribution year when making the request. To set up an ACH link, please select Establish ACH. ACH Deposit requests must be received by 3: On-Line Billpay - Deposit via on-line billpay. For details how to add optionsXpress as a Payee at your Bank, please refer to the On-line Billpay FAQ. Please note the contribution year must be specified in the account number field by adding the year directly after your optionsXpress account number with no spaces or dashes in between. Any contribution without a year designation will be deposited as current year. Log into your Individual or Joint account and proceed to the Transfer Funds page. Select Internal Transfer option and enter your request. You must specify the contribution year upon entering. Requests must be received by Personal Check - Send a personal check specifying contribution year on check. Check deposits will be processed as current year contributions if year not specified on check deposit. Please refer to Check FAQ for further guidelines on depositing checks. Box Chicago, IL Delivery by courier service which requires signature or delivery: Wacker, 12th Floor Chicago, Illinois Back to top How long does it take to fund my IRA? Funds received via check or online bill pay check are held for business days, ACH deposits are available for trading 3 business days after they are received. Bill pay checks received electronically are available the same day. If you are attempting to send a wire, please notify optionsXpress and let us know how to classify the funds as additional paperwork may be required for proper reporting. Contributions for the prior Tax Year can be made until April 15th of the current. Envelopes must be postmarked by April 15th and the Contribution Year must be designated on the check. Contributions made with no designation will be classified as a current year contribution per the IRS' rules and regulations. Back to top Can I make a contribution to my Traditional or Roth IRA from a business account? Back to top What is a Roth IRA? Back to top Who is eligible for a Roth IRA? Refer to IRS Pub B for more info at http: Contribution are not tax-deductible Earnings are tax-free subject to certain limitations Distributions: Qualified Withdrawals are tax-free. Both the Traditional and Roth IRA must be held at optionsXpress Complete our system generated distribution form available on the Transfer Funds page under Related Links. Please select Conversion as the Distribution reason and complete form. Must be logged into the distributing IRA Back to top What is a SEP IRA Simplified Employee Pension? SEP IRAs are retirement plans for self-employed people or owners of small companies. SEP IRAs permit employers to make tax deductible contributions on behalf of themselves and their employees without complicated administration and with lower cost. Back to top Who is eligible for a SEP IRA? If you are self-employed, you can make contributions based on your earned-income compensation with maximum contribution levels designated by the IRS. If you are an employer, you may start a SEP for your employees. If your employer offers a SEP plan you may participate. Refer to IRS Pub for more info at http: Contributions within the limit is deductible on the employer's business tax return Earnings grow on a tax-deferred basis Refer to IRS Pub for more info at http: For self-employed individuals, compensation means earned income. Contributions can be made from a personal account or from a business account in the name of the employer. Back to top When can express withdraw from a SEP IRA? Refer to the IRS Pub for more information at http: Back to top Who is eligible for a SIMPLE IRA? Trade Stocks, ETF, bonds, mutual funds and options. Please consult your tax advisor prior to taking a distribution from this type of IRA. Refer to IRS Pub for more information at http: Back to top Who is eligible for a Coverdell Education Savings Account - ESA Educational IRA? If your child is under the age of 18 or a special needs, you may make a contribution. Refer to the IRS site for more information at http: All earnings accumulate on a tax-deferred basis and can be withdrawn from the account tax-free, when used for qualified education expenses. Can trade stocks, ETF, bonds, mutual funds and options. Back to top When can you withdraw from a Coverdell Education Savings Account - ESA Educational IRA? Back to top Who is eligible for a Rollover IRA? Anyone is eligible for a Rollover IRA, who is looking to move their qualified employer retirement plan in to a self-directed IRA. Back to top What are the key advantages of a Rollover IRA? Assets may be transferred to an employer plan, if their agreement allows it Contributions may be tax-deductible if eligibility requirements are met. Back to top When can you withdraw from a Rollover IRA? Back to top Can I roll over an existing K into an optionsXpress IRA? If you are changing jobs or retiring, you can roll a k plan b, PSP, MPP into an optionsXpress Traditional or Rollover IRA account. To facilitate the rollover of funds, contact the k plan administrator for the distribution paperwork. Your fund administrator will then distribute the funds payable to your optionsXpress IRA. The trustee of the optionsXpress IRA will be Equity Trust Company, but the plan administrator should make funds payable to optionsXpress for the benefit of FBO your name and mail it to us. If the check is made payable directly to you, a Rollover Certification form must accompany the check. Back to top Can futures be traded in an IRA? Futures accounts are limited to accounts coded for margin. Since optionsXpress IRA accounts are prohibited from trading on margin, these accounts are not eligible for futures trading. Millennium Trust Once you have selected a custodian, you can expedite the account opening process by completing a new account application at optionsXpress and sending the completed paperwork to the Trust company for processing. Please be sure to select "individual" as the account entity, as this is how the account will be registered at optionsXpress. New accounts Mail documents to: Delivery by courier service which requires signature or delivery optionsXpress, Inc. Cashiering South Wacker, 14th Floor Chicago, IL Back to top Do you allow equity and index options trading in an optionsXpress IRA? Anyone considering trading options in a retirement account may wish to read the CBOE's publication on options trading strategies in IRAs and Keoghs. Back to top Do you offer Margin in an IRA account? The following restrictions do apply to all IRA accounts: Cannot borrow funds creating a debit cash balance. Cannot short a stock. Not allowed to sell naked options. Cross margining of stock and options not allowed. Day trading is restricted to start of day buying power. Portfolio Margin is not available for IRA accounts. Back to top How long will it to take to transfer an IRA from another firm to optionsXpress? Account transfers can take approximately a week and a half once paperwork has been received. However; in some cases they can take 7 to 30 business days should additional documentation be required or based on what is being transferred out. Back to top What are the IRA contribution limits for ? To calculate an RMD, use the December 31st year-end balance for the previous tax year, and use your Life Expectancy Table provided in. Should you need assistance in calculating your RMD, please feel free to contact our Customer Service Area at or visit our Live Help. Back to top Do you have IRA calculators available? IRA calculators can be accessed through our IRA Trustee Equity Trust. Please contact optionsXpress for further detail on how to access.
The media driven shilling of the public during this period was relentless.
Regional Sales Manager, IoT Cloud Sales - India and SE Asia Cisco Jasper.