The T. Rowe Price Mutual Fund New Account Form is the paper application used to open a non-retirement mutual fund account. If you want an individual or joint account, you can skip the form and apply online at troweprice.com/newaccount. Custodial (UGMA/UTMA), trust, estate, and power-of-attorney registrations have to use the printed form.1T. Rowe Price. T. Rowe Price Mutual Fund New Account Form The form cannot be used to open an IRA or a brokerage account; each has its own application.
Who Needs the Paper Form
The New Account Form covers six registration types: individual, joint owners, power of attorney, custodian for a minor under UGMA/UTMA, trust, and estate.1T. Rowe Price. T. Rowe Price Mutual Fund New Account Form Individual and joint applicants have the choice of applying online; the other four do not. If you are opening a traditional or Roth IRA, use the separate IRA New Account form on the T. Rowe Price forms page instead.
What to Have Ready Before You Start
Missing any one of these will stall the application.
Social Security Number and Date of Birth
Each account owner needs to provide a Social Security number, or an IRS Individual Taxpayer Identification Number if they are ineligible for an SSN. Federal law requires financial institutions to collect this for tax reporting on dividends, capital gains, and other taxable events.2Office of the Law Revision Counsel. 26 U.S. Code 6109 – Identifying Numbers If you skip it or supply an incorrect number, T. Rowe Price is required to withhold 24% of your investment income as backup withholding, which you then have to reclaim at tax time.3Internal Revenue Service. Publication 15 (Circular E), Employer’s Tax Guide For a custodial account, both the custodian’s and the minor’s SSNs are required.4T. Rowe Price. Open a UGMA/UTMA Account
All account owners must be 18 or older, except the minor beneficiary on a custodial account. T. Rowe Price collects date of birth to confirm the age threshold and to verify your identity under the USA PATRIOT Act.
Residential Street Address
Customer identification rules under the USA PATRIOT Act require a residential or business street address for each individual account holder.5Federal Deposit Insurance Corporation. FFIEC BSA/AML Examination Manual – Customer Identification Program A P.O. Box alone will not meet the requirement. You can list a separate mailing address for statements, but the physical address has to go in the primary residential field.
Bank Routing and Account Numbers
The form uses your bank information both to fund the initial purchase and to set up ongoing electronic transfers. Have your routing number and your checking or savings account number ready.
Fund Name and Dollar Amount
The form asks for the fund name and the dollar amount, not a ticker symbol or fund code.1T. Rowe Price. T. Rowe Price Mutual Fund New Account Form You can split one application across multiple funds as long as each meets its own minimum. Pick your funds from the lineup at troweprice.com before you sit down with the form so you can write the exact names.
Minimum Investment and the Automatic Buy Option
T. Rowe Price’s investment minimums for the initial purchase are:
- Non-retirement mutual fund accounts: $2,500
- UGMA/UTMA custodial accounts: $1,000
- Summit Fund accounts: $25,000
- I Class accounts: $500,0006T. Rowe Price. Fees and Minimums
If the $2,500 standard minimum is a problem, enrolling in Automatic Buy drops it to as little as $100. You commit to a recurring monthly pull from your bank account and T. Rowe Price waives the lump-sum requirement.7T. Rowe Price. Create an Automatic Investment Plan You indicate the Automatic Buy election in the investment section of the form.
Working Through the Form
Account Registration
Check the box for your registration type and fill in the personal details for each owner: full legal name, SSN, date of birth, phone number, residential address, and citizenship status. Joint accounts need this for both owners. For a trust, add the trust name and the date it was established.
Investment Method and Fund Selection
Write the fund name and dollar amount for each fund you are buying. Flag Automatic Buy here if you are using it to meet the reduced $100 minimum. You also elect how to handle distributions: have dividends and capital gains reinvested back into the fund, which is the more common long-term choice, or have them paid in cash to your linked bank account.
Trusted Contact Person
The form includes a field for a trusted contact. Under FINRA rules, firms must make a reasonable effort to collect this information from each non-institutional customer. The trusted contact is not a co-owner and has no authority to trade or withdraw money. T. Rowe Price can reach out to this person if the firm suspects financial exploitation or has concerns about your capacity, and FINRA Rule 2165 allows firms to place temporary holds on disbursements in those situations and to notify the trusted contact.8FINRA. Trusted Contact Persons Filling it in is optional, but worth the thirty seconds.
Electronic Funds Transfer Setup
Enter your bank routing number and account number in the EFT section. After you submit the form, T. Rowe Price verifies the link, either by sending small test deposits that you confirm or by having you log into your bank through their portal. The micro-deposit method takes roughly five calendar days.9T. Rowe Price. Transactions
Choosing a Cost Basis Method
When you eventually sell shares, the cost basis method decides which shares count as sold first and therefore how much taxable gain or loss you report. T. Rowe Price defaults mutual fund accounts to the Average Cost method, which divides the total cost of all your shares (including reinvested dividends) by the number of shares held and sells them on a first-in, first-out basis.10T. Rowe Price. Cost Basis Accounting and Calculation You can elect a different method on the form or change it later. Alternatives include FIFO, LIFO, High Cost, Low Cost, and Specific Lot Identification. If you have no strong preference, Average Cost works fine for most investors. One restriction: the IRS requires any switch into or out of Average Cost to be made in writing, online, by mail, or by fax. You cannot do it over the phone.
If You Want a Transfer on Death Designation
A Transfer on Death (TOD) registration lets the account assets pass directly to named beneficiaries without going through probate. T. Rowe Price handles this on a separate Beneficiaries – Transfer on Death form, not on the New Account Form. For each beneficiary you provide full name, date of birth, Social Security number, relationship to you, and the percentage of assets they should receive, and you can name both primary and contingent beneficiaries.11T. Rowe Price. Beneficiaries – Transfer on Death A TOD designation overrides your will for these assets, so update it when your circumstances change.12FINRA. Plan Now to Smooth the Transfer of Your Brokerage Account Assets on Death
Where to Send the Completed Form
Sign and date the form before mailing.
By standard mail:
T. Rowe Price
P.O. Box 17302
Baltimore, MD 21297-1302
FedEx, UPS, and other express carriers cannot deliver to a P.O. Box. For overnight or express delivery, use:
T. Rowe Price
Mail Code 17302
4515 Painters Mill Road
Owings Mills, MD 21117-49031T. Rowe Price. T. Rowe Price Mutual Fund New Account Form
Put the Mail Code on the label so your form reaches the right processing team.
What Happens After You Submit
T. Rowe Price verifies your identity and validates the bank link. Bank verification by micro-deposit adds about five calendar days on its own. Once the account is approved, you receive your account number by mail or secure electronic communication, along with instructions for setting up online access.
Your initial purchase executes at the net asset value calculated at the close of the trading day T. Rowe Price processes the order, not the day you signed or mailed the form. That lag between signing and buying is one practical reason to use the online application if your registration type allows it.