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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75377  
Subject: Re: custodial IRA Date: 10/12/1999 8:38 AM
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Greetings, ACVC, and welcome. You wrote:

<<Having trouble finding a online discount broker to transfer two custodial accounts for my sons ages 9-10, currently in CD accounts at local bank.Any advise.>>

Other than to keep searching, I can't offer any help. Many (if not most) IRA providers are highly reluctant to act as the custodian for a minor's IRA even though it's perfectly legal for a minor to have one. (I understand that Vanguard does, but their brokerage fees are higher than a discounters.) That's because minors cannot enter into a binding contract, and an IRA custodial agreement is a contract. All you can do is to keep on looking. I wish you luck in the search.

If you find a discount broker who will accept the IRAs, please come back and tell us so others in your situation can benefit.

Regards..Pixy
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