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<< ...Datek will be your custodian/trustee, and the form is simply a model Roth IRA agreement that has been approved by the IRS. For information on the form, go to the IRS site and look it up at http://www.irs.ustreas.gov/forms_pubs/forms.html.
Regards..Pixy >>

Hi, can someone tell me the difference between the 5305-R and the 5305-RA ? Both seem to be model IRA agreements, and virtually identical except that one establishes a trustee for the account while the other establishes a custodian. I don't understand the difference. I am in the process of opening a Roth IRA account with datek, and they require the 5305-R which establishes a "trustee". For my Waterhouse IRA, all off my statements are marked "TD Waterhouse Bank Custodian" , and I don't believe they had me fill out any kind of a 5305 form. I have a written "Custodial" agreement from Waterhouse, and I read a "Trust Agreement and Disclosure Statement" online when I filled out Datek's online application.

Should I be concerned that Waterhouse refers to itself as "Custodian", while Datek uses a form which appoints a "Trustee" for the account ? Whats the difference, and should I be worrried about this ?

One more thing : What does the form mean when it says "Check if Amendment ?". What is an amendment ?

Thanks in advance.
Tabletennis
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