Yes! You can use AI to fill out Fidelity Advisor Investment-Only Retirement Plan Master Application

Applicants often get confused and fill out both Section 4 (Omnibus/Plan-Level) and Section 5 (Participant-Level), or they select the wrong one for their plan's needs. This happens due to a misunderstanding of how the plan's assets will be tracked. This error will halt the application process, as Fidelity cannot determine how to structure the account, requiring clarification and resubmission. To avoid this, carefully decide if you will track participant shares yourself (choose Section 4) or if you need Fidelity to set up separate sub-accounts for each participant (choose Section 5), and complete only the corresponding section.

The application states that for certain plan types like 401(k)s, Profit Sharing, or Keoghs, the 'Trustee Certification of Investment Authority' form and pages from the governing plan documents are mandatory. People frequently overlook this and submit the main application alone. This results in an incomplete submission, delaying account opening until all required paperwork is received. Always review the 'Helpful to Know' section and create a checklist of all required documents before submission.

The 'Trustee Certification' form has very specific requirements for signature validation that are often confused. For instance, a resigning trustee (Section 3B) requires a Medallion Signature Guarantee, not a notary stamp. Submitting the wrong type of validation will cause the form to be rejected, as it fails to meet the legal and security standards for the transaction. Carefully read the instructions in each section to determine if a notary or the more stringent Signature Guarantee is required, and obtain it from an eligible financial institution.

When filling out Section 5 for participant-level accounts, the investment allocations for each individual participant must total exactly 100%. It is common for applicants to make calculation errors, resulting in totals that are over or under 100%. This prevents the funds from being allocated, and the application will be returned for correction. To prevent this, double-check the math for each participant's allocation before submitting the form.

In Section 1, the form asks for the Tax ID Number (TIN) of the plan or trust, explicitly stating not to provide Social Security Numbers of participants. However, applicants sometimes mistakenly enter their personal SSN out of habit. This leads to a fundamental mismatch in account registration, as the account must be tied to the legal entity of the plan, not an individual. This error requires a full correction and can delay the entire setup process.

Section 8 requires signatures from all trustees named in Section 1. If a plan has two trustees listed on the application, but only one signs the signature page, the form is considered incomplete and cannot be processed. This often happens due to simple oversight or coordination issues between trustees. To avoid this, ensure that every individual listed as a trustee in Section 1 has signed and dated the form in Section 8 before it is submitted.

In Section 6, when designating an Authorized Person, applicants must check a box to specify their level of authority (Inquiry, Limited Trading, or All). If no box is checked, the authority defaults to 'Inquiry Only.' This means the designated person can only view account information and cannot execute trades or transactions as may have been intended, leading to significant operational issues later. Always explicitly select the intended authority level for each authorized individual.

The form allows for a P.O. Box in the 'Mailing Address' field but explicitly requires the 'U.S. Permanent Address' section to be completed in that case. Applicants often provide the P.O. Box but then leave the permanent physical address section blank. Federal regulations require a physical address of record, so this omission will cause the application to be flagged as incomplete, delaying the account opening. If you use a P.O. Box for mail, always fill out the permanent street address section as well.

The instructions specify using 'CAPITAL letters and black ink' for manual completion. Applicants may use lowercase letters, colored ink, or have illegible handwriting, which can lead to data entry errors by Fidelity's processing team. Since this is a non-fillable PDF, these manual errors are common. To avoid this, use a tool like Instafill.ai, which can convert the flat PDF into a fillable form, allowing you to type entries clearly and ensure they meet formatting requirements before printing.

The application explicitly states it cannot be used to open a Fidelity prototype retirement account, such as a Fidelity Advisor IRA. Applicants who are not familiar with the distinction may mistakenly use this 'Investment-Only' form for a standard IRA. This results in an immediate rejection and requires the applicant to start over with the correct application, wasting significant time. Always confirm with your financial representative that you are using the correct application for your specific retirement plan type.