If you're the parent of a child who has earned income, a Custodial IRA can be a great way to teach the value of saving and investing. Besides getting a head start on saving, your child may be able to use the funds for college expenses—or even to buy a first home.
What are the fees and commissions?
- $0 account open or maintenance fees. Other account fees, fund expenses, and brokerage commissions may apply1
- Account Minimum: $100
- Commissions: $4.95 per online trade;2 $0 per Schwab ETF online trade in your Schwab account3
What do I get with this Custodial IRA?
Every Schwab account comes with one-on-one investment help and guidance. With this account, you’ll also get:
- Your choice of a Roth IRA or Traditional IRA
- Control of the account until your child turns 18 (or 21 in some states)
- Penalty-free withdrawals for qualified higher education expenses
- Retirement planning tools and resources in Understanding IRAs
- 24/7 service and support
Ready to get started?
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1. See the Charles Schwab Pricing Guide for Individual Investors ("the Guide") and any amendments to the Guide for comprehensive details on fees.
2. Restrictions apply: The $4.95 commission does not apply to foreign stock transactions, large block trading transactions requiring special handling, or restricted stock transactions. All broker-assisted and automated phone trades are subject to service charges. See the Charles Schwab Pricing Guide for details. Employee equity compensation transactions are subject to separate commission schedules.
3. Restrictions apply: Online trades of Schwab ETFs™ are commission-free at Charles Schwab & Co., Inc. (member SIPC), while trades of third-party ETFs are subject to commissions. Broker-assisted and automated phone trades are subject to service charges. A minimum deposit of $1,000 is required to open most Schwab brokerage accounts. Waivers may apply. See the Charles Schwab Pricing Guide for details. All ETFs are subject to management fees and expenses.
This tax information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.
Investors should consider carefully information contained in the prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.
Schwab ETFs are distributed by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with The Charles Schwab Corporation or any of its affiliates.