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APPLICATION FOR TRADITIONAL, ROTH , AND SEP ACCOUNTS

APPLICATION FOR TRADITIONAL, ROTH , AND SEP ACCOUNTS 2025

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The document provides detailed information on how to open and manage Traditional, Roth, and SEP IRAs with Equity Trust Company. It outlines the types of accounts available, their tax implications, contribution limits, fees associated with account setup and maintenance, processing times for account openings and transfers, as well as important guidelines for contributions and distributions. Additionally, it includes contact information for assistance and emphasizes the importance of understanding the responsibilities associated with managing these retirement accounts.

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How to use or fill out APPLICATION FOR TRADITIONAL, ROTH, AND SEP ACCOUNTS

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Click ‘Get Form’ to open it in the editor.
Begin by filling in your legal name and selecting the account type you are applying for: Traditional, Roth, or SEP. Ensure that all required fields are completed accurately.
Provide your physical address, email address, and phone numbers. If applicable, check the box if the account owner is a minor or if this is a beneficiary account.
Designate your security information by selecting a 6-digit PIN and answering a security question for identity verification.
In the beneficiary designation section, list individuals or entities as primary or contingent beneficiaries along with their details.
Fill out the funding section by indicating whether you will make automatic ongoing contributions or a one-time contribution. Include necessary banking information.
Review all sections for accuracy before signing. Ensure that both the credit cardholder and IRA account holder sign where required if they are different individuals.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How do I set up a SEP Roth IRA?

There are three steps to establishing a SEP. Execute a written agreement to provide benefits to all eligible employees. Give employees certain information about the agreement. Set up an IRA account for each employee.

Can I open a SEP IRA and a Roth IRA?

Yes, you can contribute to a traditional and/or Roth IRA even if you participate in an employer-sponsored retirement plan (including a SEP or SIMPLE IRA plan).

Is form 8606 required every year?

An individual is responsible for filing Form 8606 each year that he/she: Makes a nondeductible contribution(s) to a traditional IRA, including a repayment of a qualified disaster, a qualified reservist, or a qualified birth or adoption distribution.

Do you get a tax form for SEP IRA contributions?

SEP-IRA contributions are not included on the Form W-2, Wage and Tax Statement. The financial institution/trustee handling employees SEP-IRAs provides the IRS and participating employees with an annual statement containing contribution and fair market value information on Form 5498, IRA Contribution Information.

Can I contribute to a Roth IRA and a SEP IRA in the same year?

A Simplified Employee Pension individual retirement account is a traditional IRA that is designed for small business owners and the self-employed. You can convert your SEP account to a Roth IRA the same way you would any other IRA.