AutoShares® Account Types

AutoShares® offers a variety of account types tailored to meet different investment needs. The primary account types include:

• Standard Accounts:
• Individual Account: A personal investment account registered under one persons name.
• Joint Tenants with Rights of Survivorship: A joint account where ownership reverts to the surviving tenant upon death.
• Joint Tenants in Common: A joint account where the surviving tenant is entitled only to their pro rata portion.
• Custodial Account: Established by an adult for the benefit of a minor; margin trading is not available.
• Entity Accounts:
• Corporate Account: Registered in the corporation's name; requires a corporate agreement form.
• Limited Liability Corporation (LLC): Registered under applicable state laws; requires a tax identification number.
• Sole Proprietorship: Registered in the name of the sole proprietorship; equities, options, and futures trading are available.
• Partnership Account: Registered in the name of the partnership; requires a tax identification number.
• Trust Accounts: Both revocable and non-revocable personal trusts are available for trading equities and options.
• IRA Accounts:
• Traditional IRA: Allows pre-tax or after-tax contributions with tax-deductible benefits.
• SEP IRA: A retirement plan for small businesses, allowing employer contributions.
• Rollover IRA: A tax-free reinvestment of distributions from qualified retirement plans.
• Roth IRA: Allows tax-free growth and tax-free withdrawals under certain conditions.

For 2023, the maximum contribution limits for IRAs are $6,500 ($7,500 for those aged 50 and older).

AutoShares® Broker Account Opening Process

Opening a brokerage account with AutoShares® is a straightforward process that takes approximately 10 minutes. Here are the steps involved:

• Gather Required Information:
• Valid Social Security or Tax ID number.
• A valid driver's license or passport.
• Bank account information.
• Employers address and telephone number.
• Annual income, liquid and total net worth.
• Complete the Application:
• Access the online application form on the AutoShares® website.
• Verification:
• AutoShares® will verify the provided information to comply with securities rules and regulations, including the USA PATRIOT Act.
• Account Funding:
• Instructions for funding the account will be provided at the end of the application process. Your account must be funded to place trades.
• Account Approval:
• Once your application is approved, you will receive a notification via email that your account is ready for funding.

For more detailed information about the account types and the opening process, please visit AutoShares® Account Types and AutoShares® Account Opening.