The $30 Household Annual Fee or the IRA Custodial Fee (for IRA-only households) can be waived with one of the following for all WellsTrade accounts in your household as of the last business day of June each year: a) electronic delivery only enrollment for statements, trade confirmations, other documents, and shareholder communications (excluding tax documents/1099s), b) household balances of $250,000 or more, c) households with solely SEP IRAs, d) Wells Fargo Bank Private Bank account or e) linkage to the Wells Fargo Bank Portfolio by Wells Fargo® program. Refer to the Wells Fargo Bank Consumer Account Fee and Information Schedule for further information about the Portfolio by Wells Fargo program and applicable bank fees. Some brokerage accounts are not eligible to be linked to a Portfolio by Wells Fargo program, and they will not receive Portfolio by Wells Fargo program benefits. The Wells Fargo Bank Portfolio by Wells Fargo program has a $30 monthly service fee, which can be avoided when you have one of the following Portfolio by Wells Fargo statement-ending qualifying balances: $25,000 or more in qualifying linked bank deposits (checking, savings, time accounts (CDs), and FDIC-insured retirement accounts), OR $50,000 or more in qualifying linked bank, brokerage (available through our brokerage affiliate Wells Fargo Advisors®), and credit balances (including 10% of mortgage balances). For more information, call Wells Fargo Bank, N.A. at 1-866-245-3452. Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.
If a Household Annual Fee is due, the highest-value account in the client's household that is eligible to be charged a fee will be debited in September of each year.
If an IRA Custodial Fee is due, clients will receive a remittance notice in late July or early August with several payment options. If a payment option is not selected, the fee will be automatically deducted from the IRA in September. If there is more than one non-exempt IRA in the household, the fee will be equally divided amongst the non-exempt IRAs.
The grouping of accounts into a household is based on account eligibility and family relationship such as children, parents, domestic partners, and others. Certain accounts cannot be included in a household. Please call us at 1-800-TRADERS for more information and to determine whether all eligible accounts have been included in your household. It is your responsibility to ensure that all eligible accounts are included in your household.
Other fees may apply. Waivers may apply. Please see the WellsTrade fee schedule for full details. Note: In the event that an annual fee results in a debit balance in the account, Wells Fargo Advisors may liquidate securities in the account to satisfy the debit, without prior notification to the client.
Households composed solely of a single IRA or where an IRA is the only non-exempt account are subject to a $125 annual custodial fee in lieu of the annual household fee. The fee can be reduced to $100 with enrollment in Electronic Documents (eDocs). All accounts must be enrolled in electronic delivery to receive the following documents online only including statements, trade confirmations, other documents, and shareholder communications, excluding tax documents/1099s. Please note that if a client elects to turn off paper delivery of these documents, they will receive these documents only via Access Online. In households with multiple non-exempt IRA accounts, each account will be charged $125 until the $300 household maximum is reached. In that case the fee will be prorated among all the non-exempt accounts in the household. If a custodial fee is due, clients will receive a remittance notice with several payment options. If a payment option is not selected, the fee will be automatically deducted from the applicable account or accounts in September. Annual custodial fees are waived for household relationships of $500,000 or more, households with Advisory assets valued at $250,000, households linked to a Wells Fargo Bank Portfolio by Wells Fargo® program with $500,000 or more in qualifying balances, or households linked to a Wells Fargo Bank Portfolio by Wells Fargo® program opened prior to February 28, 2021, with $250,000 or more in qualifying balances, or households that have added $100,000 or more net new assets between July 1, of the previous year and the last business day of June in the current year. Other waivers and discounts may apply; see the Wells Fargo Advisors schedule of fees for a complete list of waivers and discounts. Note: Net New Assets includes new deposits of cash or securities and account transfers. Withdrawals and deposits between July 1 of prior year and last business day of June 30 in the current year are netted to determine the Net New Assets. Dividend and Interest payments are excluded from the deposit calculation.
Wells Fargo Destination IRAs, both Traditional and Roth IRAs, are available through Wells Fargo Bank, N.A. The maximum insurance coverage is $250,000 for all Traditional and Roth IRAs, any Simplified Employee Pension accounts, "Section 457" deferred compensation plan accounts, self-directed Keogh plan accounts, and self-directed defined contribution plan accounts owned by the same person at the same bank.
Wells Fargo and Company and its affiliates do not provide tax or legal advice. Please consult your tax and legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your taxes are prepared.
Investment products and services are offered through Wells Fargo Advisors. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC (WFCS) and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.
WellsTrade® and Intuitive Investor® accounts are offered through WFCS.
Retirement Professionals are registered representatives of and offer brokerage products through Wells Fargo Clearing Services, LLC (WFCS). Discussions with Retirement Professionals may lead to a referral to affiliates including Wells Fargo Bank, N.A. WFCS and its associates may receive a financial or other benefit for this referral. Wells Fargo Bank, N.A. is a banking affiliate of Wells Fargo & Company.
CD (Time Account) and Savings Account IRAs are available through Wells Fargo Bank, N.A.
Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.
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