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What is a Custodian IRA/Custodian Roth IRA?

by Peter J. Creedon

Traditional IRA and Roth IRA may be opened for a minor. The minor is the primary account holder,custodian is the secondary. Only the custodian signs. Requires an IRA Beneficiary Designation form. Once the minor turns 18, the ‘minor’ can move the funds from the Custodian IRA to an IRA in their name (former minor).