KNOWLEDGE BASE

What types of investment accounts are available?

U.S. Bancorp Investments has several account types to fit your needs, life stage and financial goals.   

Individual: Designed for individuals who are 18 years or older.

Joint:  Joint accounts are designed for two or more account holders with equal ownership rights in the account, such as married couples, family groups or other close associations,. We offer two types of joint accounts: tenants with rights of survivorship (JTWROS) and tenants in common. 

With a joint tenancy with rights of survivorship (JTWROS) account, all assets automatically transfer to the surviving account owner when the other dies.

With a tenants in common account, the assets of an owner will be distributed according to their wishes upon their death, while the surviving party's assets remain as-is, and are transferred into an individual account. 

Corporate/Non-Corporate: This type of account is in the name of and for the benefit of a corporate, or non-corporate entity, to be managed by authorized officers.

Trust: This type of account is in the name of a trust, to be managed by its trustees.

Custodial: Intended for minors, custodial accounts are for those under 18, to be managed by a custodian under applicable state UTMA (Uniform Transfers to Minors Act) regulations. The gifts to minors are considered irrevocable and are managed by a custodian who acts as a fiduciary. When the minor named on the account turns 18, they may take control of the account.

IRAs (individual retirement accounts)

Everyone’s situation is different. So, as you consider your IRA options, be sure to speak with a tax advisor about the U.S. Bancorp Investments IRA that’s best for you.

Traditional IRA: Contributions accumulate on a tax-deferred basis. Qualifying contributions may be tax-deductible, and disbursements are subject to income taxes. Withdrawals before age 59½ may be subject to income tax penalties.

Roth IRA: Unlike a traditional IRA, Roth IRA annual contributions are not tax deductible, but your contributions can be withdrawn tax free. Withdrawals before age 59½ may be subject to income tax penalties.

SEP IRA: Similar to a traditional IRA, but for small business owners and their employees.  You can roll over a 401(k), 403(b), or another retirement account into an existing SEP IRA.

Note: You can open individual, joint or IRA U.S. Bancorp Investments account online. For corporate, trust and custodial investment accounts, please call Wealth Management Advisory & Service Center at 1-855-240-7726.

Investment and Insurance products and services including annuities are:

Not a Deposit • Not FDIC Insured • May Lose Value • Not Bank Guaranteed • Not Insured by any Federal Government Agency