Compliance Fidelity Non-Prototype Retirement Account Application
Validation Checks by Instafill.ai
1
Ensures the Plan Tax ID Number Type and Value Are Consistent and Properly Formatted
This check verifies that exactly one Tax ID type (SSN, EIN, or ITIN) is selected for the plan and that the corresponding number matches the expected format for that type: SSN as XXX-XX-XXXX (9 digits), EIN as XX-XXXXXXX (9 digits), or ITIN as 9XX-XX-XXXX beginning with a 9. The Tax ID Number is a required field and is critical for IRS compliance and tax reporting purposes. If no type is selected, the wrong format is used, or the field is left blank, the application cannot be processed and the account cannot be opened.
2
Ensures the Date Plan Established Is a Valid Date in the Correct Format and Not a Future Date
This check validates that the Date Plan Established field is populated in the required mm/dd/yyyy format, contains a real calendar date (e.g., not 13/45/2020), and does not represent a date in the future. A plan establishment date is required to confirm the plan's existence and eligibility under Section 401(a) of the Internal Revenue Code. If the date is missing, improperly formatted, or set in the future, the application will be flagged as incomplete and cannot be submitted for account opening.
3
Ensures Plan Structure Selection Is Made and Is Mutually Exclusive Between Option A and Option B
This check confirms that exactly one Plan Structure option is selected — either Option A (trustee-directed pooled account) or Option B (FBO account for one participant) — and that both options are not simultaneously checked. The plan structure determines the account type and regulatory requirements, and selecting both or neither creates an irreconcilable conflict in account setup. If no selection is made or both are selected, the application must be returned to the applicant for clarification before processing can proceed.
4
Ensures FBO Participant Information Is Fully Completed When Option B Is Selected
When Option B (FBO account) is selected as the Plan Structure, this check verifies that the participant's First Name, Last Name, and Taxpayer ID Number (with type selected) are all provided and properly formatted. These fields are conditionally required and are necessary to identify the individual beneficiary of the account for recordkeeping and regulatory compliance. If Option B is selected but any of these participant fields are left blank or improperly filled, the application is incomplete and cannot be processed.
5
Ensures Plan Trustee 1 Required Fields Are All Populated Including Full Legal Name, Date of Birth, Tax ID, Permanent Address, Mobile Phone, and Email
This check validates that all mandatory fields for Plan Trustee 1 are completed: First Name, Last Name, Date of Birth, Taxpayer ID Number (with type), Permanent Street Address (no PO boxes), City, State, ZIP, Mobile Phone, and Email Address. These fields are explicitly required by the form for account security, transactional alerts, and regulatory identity verification under federal anti-financial-crime regulations. If any of these required fields are missing or blank, the application cannot be opened and must be returned to the applicant.
6
Ensures Trustee Date of Birth Is a Valid Date, in Correct Format, and Indicates the Trustee Is at Least 18 Years of Age
This check validates that the Date of Birth field for each trustee is in mm/dd/yyyy format, represents a real calendar date, and results in an age of at least 18 years as of the application submission date. The application's signature section explicitly certifies that all trustees are at least 18 years of age and of full legal age in their state of residence. If a trustee's date of birth indicates they are under 18, or if the date is invalid or missing, the application must be rejected as the trustee lacks legal capacity to enter into the agreement.
7
Ensures Foreign Citizen Trustees Provide All Required Government ID Fields Including ID Number, Country of Issuance, Issuance Date, Expiration Date, ID Type, and a Copy of the ID
When a trustee selects 'Foreign citizen' for citizenship status, this check verifies that all subordinate fields are completed: Country of Citizenship, residency status (Permanent U.S. resident, Nonpermanent U.S. resident, or Nonresident of U.S.), Government ID Number, Country of Issuance, ID Issuance Date, ID Expiration Date, and ID Type (Passport, Permanent Resident Identifier, or Other). Additionally, the ID must be unexpired as of the submission date, must include a reference number and photo, and a copy must be attached. Federal regulations require this information for identity verification, and failure to provide complete and valid foreign ID information will result in the account being restricted or closed.
8
Ensures the ID Expiration Date for Foreign Citizen Trustees Is Not in the Past
This check specifically validates that the Government ID Expiration Date provided for any foreign citizen trustee represents a date that is on or after the application submission date, confirming the ID is currently valid and unexpired. The form explicitly states that the ID must be unexpired, as an expired government ID does not satisfy federal identity verification requirements. If the expiration date has already passed, the application must be flagged and the trustee must provide a current, valid government-issued photo ID before the account can be opened.
9
Ensures Broker-Dealer or RIA Association Details Are Provided When the Corresponding Checkbox Is Selected for Either Trustee
This check verifies that when a trustee checks the box indicating they are employed or associated with a Registered Investment Adviser or a Broker-Dealer, the Associations section is completed with the Company Name, Company Address, City, State/Province, ZIP/Postal Code, and Country of the associated firm. FINRA and other regulatory bodies require this disclosure so that duplicate account statements and confirmations can be sent to the employer for compliance review. If the checkbox is selected but the association details are left blank, the application is non-compliant with regulatory requirements and cannot be processed.
10
Ensures Affiliate Information Is Provided When a Trustee or Household Member Is a Control Person of a Publicly Traded Company
This check validates that when a trustee indicates (or it is otherwise known) that they, their spouse, or a household relative is a board member, 10% shareholder, or policy-making officer of a publicly traded company, the Affiliations section is completed with the Affiliate's Company Name and Trading Symbol or CUSIP for each such company. This disclosure is required under SEC Rule 144 and FINRA regulations to monitor for insider trading and conflicts of interest. Failure to disclose affiliate relationships when applicable constitutes a material omission that could result in regulatory violations and account restrictions.
11
Ensures the Financial Profile Section Has Exactly One Selection in Each of the Five Required Columns
This check verifies that the Financial Profile section (Section 2) contains exactly one checked box in each of the five columns: Investment Objective, Federal Tax Bracket, Estimated Liquid Net Worth, Annual Income, and Estimated Net Worth. The form states that all fields in this section are required by FINRA and other industry regulators, and each column must have one and only one selection to avoid ambiguity. If any column is left blank or has multiple selections, the financial profile is incomplete or contradictory and the application cannot be submitted.
12
Ensures at Least One Funding Method Is Selected and That the Selected Method's Required Details Are Provided
This check confirms that at least one of the four funding methods is selected in Section 3 (By Check, Transfer from Other Firm, By Wire, or Transfer from Existing Fidelity Non-Prototype Retirement Account), and that any method-specific required information is provided — such as the check amount for 'By Check,' the Transfer of Assets form for 'Transfer from Other Firm,' or the existing account number for 'Transfer from Existing Fidelity Non-Prototype Retirement Account.' The minimum initial deposit is generally $500, so if a check amount is provided it should be validated against this threshold. Without a valid funding method and its associated details, the account cannot be opened or funded.
13
Ensures the Plan's Permanent Address Does Not Contain a PO Box and That All Address Components Are Present
This check validates that the Plan's Permanent Address field contains a physical street address (not a PO Box, mail drop, or c/o address), and that all required address components — Street, City, State, and ZIP — are populated and non-blank. The form explicitly prohibits PO boxes for the permanent address, as a physical address is required for regulatory identity verification and legal correspondence. If a PO box is detected in the street address field or any address component is missing, the application must be returned for correction before it can be processed.
14
Ensures All Trustees Have Signed the Application and That Signature Dates Are in the Correct Format and Are Not Future Dates
This check verifies that a wet ink signature is present for every trustee listed on the application (including any additional trustees listed on attached pages), and that each corresponding signature date is in mm/dd/yyyy format, represents a valid calendar date, and is not a future date. The form explicitly states that the application cannot be processed without signatures from all owners, and the signature section certifies legal representations on behalf of the trust. If any trustee signature or date is missing, improperly formatted, or dated in the future, the application is legally incomplete and must be returned.
15
Ensures Plan Documentation Is Attached for New Accounts Without an Existing Fidelity Non-Prototype Retirement Account
This check verifies that if the applicant has not checked the box indicating they have an existing Fidelity Non-Prototype Retirement Account, the required plan documentation is attached — specifically, copies of the pages of the plan document, trust agreement, and/or adoption agreement that contain the full trust name, identity of trustees, and trustee signatures. This documentation is required to confirm the plan's qualified status under Section 401(a) of the Internal Revenue Code and to verify the trustees' authority. If the existing account checkbox is not selected and no documentation is attached, the application is incomplete and cannot be processed.
16
Ensures the Type of Plan Selection Is Made and Corresponds to an Eligible Qualified Plan Under Section 401(a)
This check confirms that exactly one Type of Plan checkbox is selected from the available options (401(k), Profit Sharing, Money Purchase, Defined Benefit/Pension Plan, or Other Qualified Plan), and that the selected plan type is consistent with the eligibility requirements stated in the form — specifically that the plan is qualified under Section 401(a) of the Internal Revenue Code. The form explicitly states that plans not qualified under 401(a), such as 403(b) plans and IRAs, are not eligible for this account type. If no plan type is selected, or if an ineligible plan type is indicated in the 'Other' field, the application must be rejected or returned for correction.