Are you looking to link someone else's account with your username/email? To gain access to an account belonging to a different account holder requires a limited trading authorization (LTA) form. Instructions on what is required and how to fill out the LTA form are listed below. The form can seem a little intimidating at first, which is why we’ve broken it down for you below.
The LTA form is in our Forms and Agreements at tastyworks.com. Once you are done filling it out, please submit it by email to our Accounts team at firstname.lastname@example.org. You may also fax the form to 312-724-7364.
Once the form is complete and processed by our accounts team, the account will be accessible and list on your platform.
*Please Note: The Authorized Agent (person being granted access) MUST have an approved tastyworks trading account to be eligible to receive LTA permissions. If the Authorized Agent you are trying to designate does not currently have an approved tastyworks trading account, they must register for a username on the website, proceed to fill out an account opening application, and await correspondence from our Accounts team that will indicate the application’s processing status.
TABLE OF CONTENTS
- LTA Form Instructions
- What can an LTA do?
How do I grant account access to someone else?
LTA Form Instructions
Completing an LTA form grants the authorized agent access to trade securities (stocks and options) as well as futures (if enabled).
You may only list one account per LTA form. If you have multiple accounts that you wish to grant an authorized agent to, then you must fill out an LTA form for each account.
A/C No.: Located at the top right-hand corner of page 1, the account number that trading authorization is being granted for (so, if the LTA is for you to trade in your daughter's account, for example, your daughter's account # should appear here)
SS/ID: Also located at the top right-hand corner of page 1, the Social Security Number (SSN) associated with the account that trading authorization is being granted for. For example, if the LTA is for you to trade in your daughter's account, then list your daughter's SSN. When listing an entity account, please provide the Tax ID/EIN of the entity account instead of the account owner's SSN.
The line in the body of text on the first page is the name of the Authorized Agent, i.e., the person who is being GRANTED Limited Trading Authorization by the account-holder.
Bottom of Page 1 and Top of Page 2 for Agent Exclusions
Agent Exclusions: This section mainly touches upon authorizing an agent to trade futures. Even if your account is NOT ENABLED for futures trading, the agent must fill this out. There are three exclusions listed, and the agent must list one on the second page under “List of Reason(s).” The agent MUST list at least ONE of these exclusions under "List of Reason(s)" on the top of page 2 if the agent is not a Commodity Trading Advisor (CTA) with the Commodity Futures Trading Commission (CFTC). Please refer to the detailed screenshot below to see a detailed view of the listed exclusions.
List of Reason(s): Please write out one of the three exclusions listed on the bottom of page one if the agent gaining access is NOT a Commodity Trading Advisor (CTA) with the Commodities Futures Trading Commission (CFTC). Writing the corresponding number as an exclusion will not suffice in this section. You must completely write out one of the listed exclusions in this section.
Signature of Account Owner(s): The account owner must sign and complete this section.
Signature of Authorized Agent: The person gaining access must sign and complete this section.
Authorized Agent/Attorney-In-Fact: Located at the bottom of page 2, the person gaining access must provide their personal information and complete this section.
What can an LTA do?
LTAs only have specific account-related roles
LTAs, or the person gaining access to someone else's account, may only speak on behalf of an account owner when performing the following:
- Trade on behalf of the account owner
- Access monthly account statements
- Access monthly trade confirmations
- Access tax forms
LTAs cannot perform the following on behalf of an account owner:
- Deposit/Withdrawal Funds
- Change personal information
- Change security settings