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Two accounts from one application

The IRA and its checkbook LLC or trust are collected together.

Today

A checkbook IRA is two accounts, so it is two forms: the IRA on one, the LLC or trust on the other, keyed by different people at different times.

With Crown

The paired type is one choice. A single application collects the IRA and the entity together, and the customer answers each question once.

  • IRA
  • Custodial IRA + LLC Checking
  • Custodial IRA + Trust Checking

The IRA opens first. The entity links to it.

Opening order and the link between accounts are part of the application.

Today

The pair is linked afterwards, by hand, and the link lives in whatever field was free. Getting the order wrong means unwinding an account that should not have opened yet.

With Crown

Crown opens the IRA first, then the LLC or trust checking account linked back to it as its primary. Each resolves its own agreements, so the customer signs both in one packet.

Where the money already sits in an IRA your customer holds, the entity application points at that account and takes its primary signer and program tier from it.

  • IRA opens first
  • Linked to its primary
  • Or linked to an existing IRA

Beneficiaries and consent, settled before signing

The signing packet reflects the customer’s answers and your bank’s consent settings.

Today

Beneficiary designations arrive on a form once the account is open, and spousal consent gets settled case by case, sometimes after signing.

With Crown

Primary and contingent beneficiaries are designated inside the journey. Crown works out whether spousal consent applies from answers already on the file and adds it to the signing packet, in the states your bank configures.

  • Designations in the journey
  • Consent resolved automatically
  • Your consent states

Screening matched to the account

The IRA holder is screened; an attached checkbook entity adds business verification.

Today

The IRA holder is verified in one place and the entity in another, on two schedules that nobody planned together.

With Crown

KYC, identity risk checks and OFAC sanctions and watchlist screening run inside the journey. An IRA on its own runs no business verification; pair it with a checkbook entity and KYB joins the same application.

  • KYC and OFAC on the signer
  • KYB when there is an entity
  • Findings stay bank-only

One decision opens the pair

Both accounts open on your configured core integration under your bank’s rules.

Today

Both files are reviewed and both are keyed into the core, while the provider who referred the customer calls to ask where it stands.

With Crown

One decision covers the pair. Applications that meet your bank’s configured rules can be approved and opened automatically, and Crown opens both accounts on your configured core integration.

  • Your opening rules
  • Your core integration
  • Bank-defined visibility

Questions banks ask about IRA accounts.

What the application collects, how accounts open, and what stays with your bank.

How does a checkbook IRA open as one application?

The customer completes a single application covering both the IRA and the LLC or trust. Crown opens the IRA first, then opens the checking account and links it back to the IRA as its primary. Each account resolves its own agreements, so the customer signs both in one packet.

What if the customer already has an IRA with us?

A standalone LLC or trust application can be linked to that existing IRA instead of opening a new one. The linked IRA supplies the primary signer and the program tier for the new application, and after opening the pair reads together.

Which IRA types can customers open?

Traditional, Roth and SEP. An application can also be marked inherited, which records the original owner and asks for the supporting paperwork that goes with it.

Does an IRA application run business verification?

An IRA on its own does not, because there is no entity. It runs KYC identity verification and OFAC screening on the signer. Pairing the IRA with a checkbook LLC or trust adds KYB on that entity to the same application.

See what the LLC side collects

When is spousal consent required?

When the primary signer is married, resides in one of the consent states your bank configures, and has not named their spouse as sole primary beneficiary. Crown resolves this from the application itself and adds the consent to the signing packet.

What is Crown?

Account onboarding and account opening software for banks and trust companies. One application carries a customer from a branded first step through identity verification, business verification and OFAC screening to a decision under your bank’s rules, and then opens the account on your configured core integration.

Two accounts from one application.

See a custodial IRA and its checkbook LLC open from a single submission.

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