Note: This article has been updated to reflect recent changes in the software. Please review the new information to stay up to date with the latest features and improvements.
If an Investing Account is managed by a Custodian, such as an IRA/SDIRA, you can associate that Custodian with the Investor's Investing Account in a few simple steps. Any future distribution payments will be sent to the Custodian associated with the Account.
DISCLAIMER: You will need to create a Custodian Account page before proceeding. If the Custodian page is not created yet in InvestNext, use this article to set up the Custodian Account page first.
Step-by-Step Instructions:
STEP 1. Navigate to 'Accounts' in the Portal's Main Menu. Select the specific Investing Account you need from the list:
STEP 2: On the Account page, click the '3 vertical ellipses' and then click 'Edit Custodian(s)':
STEP 3. In the pop-up window that appears, fill out the two fields presented:
Custodian: Select the Custodian you would like to associate with this Investing Account.
Custodian account reference: Enter the investor's IRA Custodian Account Number.
TIP: The "Custodian account reference" is the account number issued/provided by the Custodian for the IRA/SDIRA Account. When sending a distribution payment to the Custodian, this number will be printed on the check and used for processing.
STEP 4. Click 'Save Changes' when complete:
STEP 5. Once saved, review the Account. The example below shows a Retirement Investing account set up correctly for the InvestNext system:
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