Account Configuration

Customer Types

Depending on the customer's country of residency, an account will be assigned to IB LLC, IB CAD (Canada), IB UK (Europe), or IB (India) Pvt. Ltd.

Customer Type	Available Legal Vehicles	Available Account Structures	Explanation
Individual Customer Types
Individual	LLC, CA, UK, India	• Individual • Advisor⁽¹⁾ • Advisor Client⁽¹⁾ • Broker Client⁽¹⁾ • SIPP⁽²⁾	An account owned and utilized by a single trader or investor.
Joint	LLC, CA, UK	• Individual • Advisor Client • Broker Client	An account owned and utilized by two individuals. Depending on the laws of your state of residence, there are three types of joint accounts: Tenants with Rights of Survivorship, Tenancy in Common, and Community Property.
Trust	LLC, CA	• Individual • Advisor Client • Broker Client	An account in which the securities are registered in the name of the trust, while a trustee controls the management of the investments.
IRA	LLC	• Individual • Advisor Client • Broker Client	Individual Retirement Account. Traditional, Roth or Simplified Employment Plan (SEP). Additional New, Rollover and Inherited Sub-Types are available. This account is only available for a US resident individual.
Organization Customer Types
Corporation	LLC, CA, UK	• Individual • Advisor • Advisor Client • Broker • Broker Client • Proprietary Trading Group • Fund	An account in the name of a corporation, managed on the corporation’s behalf by the corporation’s officers or authorized traders.
Partnership	LLC, CA, UK	• Individual • Advisor • Advisor Client • Broker • Broker Client • Proprietary Trading Group • Fund	An account in the name of a partnership, managed on the partnership’s behalf by the partnership’s officers or authorized traders.
Limited Liability Company	LLC	• Individual • Advisor • Advisor Client • Broker • Broker Client • Proprietary Trading Group • Fund	An account in the name of a limited liability company (“LLC”), managed on the LLC’s behalf by its officers or authorized traders.
Unincorporated Business	LLC, UK	• Individual • Advisor • Advisor Client • Broker • Broker Client • Proprietary Trading Group • Fund	An account in the name of an unincorporated business, managed on the business' behalf by the business officers or authorized traders.

Notes:

¹Not available to IB India Pvt. Ltd.
²Only available to UK residents.

IRA Types

US resident customers may open cash or margin Individual Retirement Accounts (IRAs).

IRA margin accounts are afforded all the benefits of a margin account, such as the ability to day trade and the ability to trade multiple currencies and multiple currency products, but are subject to the following limitations:

IRA accounts cannot borrow cash (i.e. have a debit balance or short stocks).
IRA accounts may be opened in any base currency, but when trading in a non-base currency product a currency trade must first be executed as you cannot borrow currencies.
IRA accounts can only cross-margin single stock futures, not stocks and options.
IRA accounts cannot borrow currencies.

Customers are advised to consult a tax specialist for further details on IRA rules and regulations.

IRA Type	Explanation
Traditional	Tax-deferred retirement account to which an individual taxpayer can contribute. A spouse may also contribute, but must open a separate account. Contributions are tax deductible with certain limitations. Earnings are not taxed until you start withdrawing the money. Withdrawals may not generally be made from an IRA prior to reaching age 59 1/2. If withdrawals are made prior to this time, the amount of the withdrawal is subject to a 10% penalty tax in addition to the normal tax liability. Distributions must begin by April 1 of the year following the year in which the employee turns 70 1/2. Failure to withdraw the required amount results in a 50% tax penalty.
Roth	Retirement account to which the taxpayer can contribute. A spouse may also contribute, but must open a separate account. Contributions are not tax deductible. Earnings are tax-free. Withdrawals of original contribution are tax-free. Investors may continue to contribute to their Roth IRA beyond age 70.
Simplified Employee Pension (SEP)	Plan in which the employee and employer contributes to an IRA. SEPs are used by small employers and self-employed individuals. Each individual employee can set aside a percentage of his or her pre-taxed income into the plan. Contributions are made by the employer (there are no employee contributions). There is 100% immediate vesting of all plan contributions.
Direct Rollover	Used by investors when they are changing jobs or retiring. Allows the investor to move assets from a 401K or other employee sponsored retirement plan or an existing IRA without paying taxes or penalties. Employees who contribute, transfer, or rollover IRA assets into this account may not later transfer this account back to a 401K or other employee sponsored retirement plan.

Contribution Limits

Contribution Year	Roth, Traditional, & Direct Rollover Contribution Limit (Under Age 50)	Roth, Traditional, & Direct Rollover Contribution Limit (Age 50 and over)	Simplified Employee Pension (SEP- IRA)
	Filing Deadline 4/15 of following year	Filing Deadline 4/15 of following year	Filing Deadline 4/15 of following year or as extended 10/15
2002	3,000	3,500	Lesser of 25% eligible Comp. or $30,000
2003	3,000	3,500	Lesser of 25% eligible Comp. or $40,000
2004	3,000	3,500	Lesser of 25% eligible Comp. or $41,000
2005	4,000	4,500	Lesser of 25% eligible Comp. or $42,000
2006	4,000	5,000	Lesser of 25% eligible Comp. or $44,000
2007	4,000	5,000	Lesser of 25% eligible Comp. or $45,000
2008	5,000	6,000	Lesser of 25% eligible Comp. or $46,000
2009	5,000	6,000	Lesser of 25% eligible Comp. or $49,000

For IRA FAQs, click here.

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アドバイザー	ブローカー