Message Font: Serif | Sans-Serif
No. of Recommendations: 0
<< Can an investment account be started for an investment group by one individual in the group (under his or her tax ID) before the group get a Tax ID? And when the group obtains its Tax ID can the investment account be rolled over under the group's Tax ID? >>

I suppose you could, but are you sure you want to? I haven't checked in a while, but you used to be able to get an EIN over the phone. Have you checked the instructions for the SS-4?

It would be easier to do it right in the beginning, because you'd avoid any possibility of having to do nominee reporting. Also, before you do anything like this, check with the brokerage to make sure you're not going to have any problems or unanticipated fees.

Phil Marti
Tax Preparer
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.