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Vanguard Simple IRA stupid policy
Posted on 4/11/15 at 12:06 am
Posted on 4/11/15 at 12:06 am
We are allowed to choose who we want to use for our work Simple IRA. I was in the process of moving to Vanguard when the required someone other than myself at my office to give their SSN# to open my account. They asked our Human Resource person for hers and she told them to frick off. They then asked for the President of the company's SSN which I wasn't going to even ask him to give it up. I called their business section and they confirmed they need a SSN from someone at the company to setup the account. I had to go with TD ameritrade because of this dumbass rule. I am able to buy Vanguard funds but have to pay the TD fees...sucks.
This post was edited on 4/11/15 at 12:08 am
4
Posted on 4/11/15 at 4:37 am to lsufan1971
Does not sound correct.
Posted on 4/11/15 at 7:02 am to lsufan1971
Why not just give a ssn?
Posted on 4/11/15 at 7:49 am to lsufan1971
It's customary to use the company's federal tax ID for this.
This didn't occur to any of the brainiacs in human resources?
This didn't occur to any of the brainiacs in human resources?
Posted on 4/11/15 at 8:28 am to Layabout
They offered the tax ID but in order to setup the account they wanted someone's SSN from the company besides the account holders. I called and talked to the business IRA team at Vanguard myself And they wouldn't budge on it.
Posted on 4/11/15 at 9:23 am to lsufan1971
Did you by any chance name your estate as beneficiary? They do require a SSN for the beneficiary and I could see where not naming one would throw a monkey wrench into their system.
This post was edited on 4/11/15 at 9:25 am
Posted on 4/11/15 at 10:07 am to lsufan1971
They would not accept the EIN of the company? They do know the company has an EIN, right?
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