Coverdell Education Savings Account

EDUCATION & CUSTODIAL
The Coverdell ESA is a savings plan created for the purpose of paying a student’s qualified educational expenses. These can include, but are not limited to:

  • tuition
  • books
  • uniforms

 

Similar to a 529 plan, your money is tax-deferred, allowing your fund to grow faster.

Contributions to a Coverdell ESA are not tax-deductible. In addition, contributions are allowed for individuals under the age of 18.

Distributions from a Coverdell ESA may be tax-free, but they must be used to pay for qualified educational expenses.

With a Coverdell ESA account, you can invest in a wide variety of products including stocks, bonds, and mutual funds.

The maximum contribution per year is $2,000.

Account Minimums:

$2,000 maximum per designated beneficiary

Global Advisers Education Planning Services

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US citizens living anywhere in the world and US resident aliens may open cash or margin Individual Retirement Accounts (IRAs).

IRA margin accounts allow trading so the account can be fully invested as well as the ability to trade multiple currencies and multiple currency products, but are subject to the following limitations:

  • No cash borrowing (i.e. cannot have a debit balance or short stocks).
  • IRA accounts may be opened in any base currency, but when trading in a non-base currency product, a currency trade must be executed first as you cannot borrow currencies.
  • Withdrawals are permitted only in USD.*
  • No stock or option cross-margining.
  • No currency borrowing.
  • Futures trading in an IRA margin account is subject to substantially higher margin requirements than in a non-IRA margin account. Margin rates in an IRA margin account may meet or exceed three times the overnight futures margin requirement imposed in a non-IRA margin account.

Customers are advised to consult with their adviser and tax specialist for further details on IRA rules and regulations.
Residents of Canada may not open Individual Retirement Accounts.