How to open a trust account with IB

[hui]

This is my first post to this board, so apologies if I have posted to an inappropriate forum.

Has anyone any experience of opening an account with IB UK for a trust?

I am a UK resident and I have recently transferred my personal pension into a SIPP, but rather than go for a broker provided SIPP wrapper I have established mine as a discretionary trust with a SIPP administrator. The trust is then free to open any brokerage accounts it chooses and enter into any permitted investments. So far so good.

IB don't offer SIPP trading wrappers themselves but IB do accept accounts for trusts. The instructions suggest you should apply for individual accounts and I have therefore worked my way through the lengthy series of pages and completed the process using the designated name of the trust as the account holder.

However even though I selected "complex trust" as the beneficial owner on one of the pages, the request for paper documents at the end of the application process does not request a copy of the trust deed or any paperwork associated with a trust at all.

I can't help thinking I should be applying as an institution or something?

Has anyone completed this process successfully?

What's more were you comfortable sending all the copies of personal ID and other documents requested to an address in Switzerland (as the final page asked me to do) in these days of rampant identity theft?

Any insights much appreciated!

Thanks,

Simon.

 

[donaldduke]

You should phone IB customer support, or mail newaccounts, they probably dont care
about your trust it has nothing to do with them after all. The would only want to see the
trust documents if for legal reasons they had to see them (money laundering etc). Your personal details are probably all they need in this regard.

If you are scared of identity theft you could send via recorded/registered post or by courier.

You could email scaned copies of your documents but as you seem a bit paranoid and you
probably think your email will be intercepted.

I think you may even be able to FAX, but then again your phone or their phone could be tapped.