Capital Group Account Type

Capital Group offers various types of accounts tailored to meet different investment needs. The primary account types include:

• Individual Accounts: Owned solely by one person, with no designated beneficiary. Upon the account owner's death, the account passes to their estate.
• Joint Accounts: These accounts can be registered as:
• Joint Tenants with Rights of Survivorship: Equal ownership among two or more individuals; surviving owners retain full ownership without probate.
• Tenants in Common: Ownership can be unequal, and rights of survivorship do not apply. The deceased's portion goes to their estate.
• Transfer on Death Accounts: Ownership passes directly to designated beneficiaries upon the death of all account owners, avoiding probate.

• 529 College Savings Accounts: Specifically designed for education savings, offering tax advantages.

• ABLE Accounts: For individuals with disabilities, allowing for tax-free savings.

Minimum investment requirements vary:

• $1,000 for money market funds.
• $250 for all other funds, which can be waived with an automatic investment plan.

Capital Group Broker Account Opening Process

Opening an account with Capital Group involves a straightforward process:

• Choose the Account Type: Decide whether you want an individual, joint, or specialized account (like 529 or ABLE).

• Complete the Application:

• For individual or joint accounts, fill out the account application form.
• For 529 or ABLE accounts, specific applications are available.

• Provide Required Documentation: Submit identification and any necessary documents as specified in the application.

• Fund Your Account: You can fund your account via:

• Direct investments.
• Transfers from another external account.
• Transfers from an existing Capital Group account.

• Review and Submit: Ensure all information is correct and submit your application.

• Account Approval: After processing, you will receive confirmation of your account setup, allowing you to begin investing.

For further details on account types and the opening process, visit the Capital Group website.