This type of taxable account is solely registered in your name. It’s an ideal option if you’re saving up for a new car, down payment on a house or a rainy-day fund. This type of taxable account is not penalized for early withdrawals.
Is an Individual Account right for you?
An individual account gives you the flexibility to make all the investment and other important decisions about when and how to use the proceeds of the account. This includes the ability to pick any type of investment option based on your risk tolerance and investment goals.
Tax features and investments
What are the tax features?
Generally, any realized gains or losses are taxable in the year the transaction occurs. For example, any distributions of dividends and capital gains are taxable whether they are paid to you in cash or reinvested to purchase more shares. In addition, for any sale (withdraw) or exchange, the gains are taxable or losses could be used to offset other taxable gains and income.
How much can I invest?
With an individual taxable account you can invest as much as you want. There are no limits on the amount you can put aside to save for your future needs.
What are the investment minimums?
The minimum initial investment to open an individual account at Janus Henderson is $100 with an automatic investment of at least $50. If an automatic investment is not established, the minimum initial investment is $2,500. Subsequent one-time purchases must be at least $50.
Are there any investment deadlines?
No, you may add to your investment at any time.
What are the fees for an individual account?
There is no cost to open an account and no annual maintenance fees when account minimum thresholds are met.
Withdrawals and helpful information
How do I request an account withdrawal?
Depending on the account options you have selected, you may redeem shares by telephone, online or in writing. Proceeds of the withdrawal may be sent to the address on record or transferred to a bank account on record.
Am I required to take money out of the account?
You have the flexibility of taking out your money whenever you request. However, the longer you invest or stay invested, the more it will have a chance to grow in value.
What other information might be helpful to know?
As the individual owner, you make all the investment decisions and essentially manage your assets based on your investment needs and goals.
Although an individual account isn’t tax deferred, the proceeds could be used for retirement funding, such as an annual contribution to your IRA.
You can designate one or more "transfer on death" beneficiaries. In the event of your passing, the account transfers directly to any named beneficiaries. If you do not designate any beneficiaries, the account passes to your estate and an estate executor will make the decisions on how to divide your assets.
You can designate a beneficiary with the transfer on death beneficiary form.
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Open an Individual Account
Start saving today with an individual account that offers flexibility and responsiveness to invest when and how you wish. Do you have questions about individual accounts? Contact a Janus Henderson Representative today.