Top Invest FAQs

Answers to your top investment questions.

Because of a recent increase in market activity, our call volume is higher than usual. To ease wait times and to make it easier for you to find the answers you need, we’ve compiled our most frequently asked Invest questions, all in one place. We recommend checking this list first before giving us a call. For any lingering questions, reach out any time, 24/7. We’re happy to help.


Taxes

Consolidated 1099 forms are provided for regular Ally Invest brokerage accounts that have received dividends, interest payments on cash, insured deposits, money market balances or have reportable sale proceeds. Reportable sale proceeds include:

  • sale of bonds
  • mutual funds
  • options
  • stock
  • other corporate securities

Keep in mind, you won't receive a 1099 form from us for exempt and non-reportable accounts. If you have one of these accounts and want to request a 1099 form, send us an email to support@invest.ally.com with Request for 1099 Form in the subject line. There's a $50 fee for this service.

Accounts that have interest or dividend payments that don’t exceed $10.00 won't receive a 1099 form.

If you didn't receive a 1099 form and feel that your account has met the minimum amounts, log in to chat or call us at 1-855-880-2559, and we’ll investigate for you.

Ally Invest does not provide tax advice. Be sure and consult with your tax professional about your tax preparation questions.

IRAs

For individual or joint accounts:
To change or add a beneficiary to a non-IRA Ally Invest account, complete the Beneficiary Form (PDF), have it notarized, and mail it to:
Ally Invest
PO Box 30248
Charlotte, NC 28230

For IRA accounts: While opening an Ally Invest IRA account online, you'll be asked to identify at least one primary beneficiary for your account. To update or change your beneficiary, complete the IRA Beneficiary Designation (PDF). Be sure to sign it, then upload it in the forms section after logging in to your account, or fax it to 1-866-699-0563.

Account Information

For individual or joint accounts:
To change or add a beneficiary to a non-IRA Ally Invest account, complete the Beneficiary Form (PDF), have it notarized, and mail it to:
Ally Invest
PO Box 30248
Charlotte, NC 28230

For IRA accounts: While opening an Ally Invest IRA account online, you'll be asked to identify at least one primary beneficiary for your account. To update or change your beneficiary, complete the IRA Beneficiary Designation (PDF). Be sure to sign it, then upload it in the forms section after logging in to your account, or fax it to 1-866-699-0563.

DPOs and IPOs

Cryptocurrency exchange platform Coinbase has announced it will be listing its shares through a Direct Public Offering (DPO) on the Nasdaq exchange on Wednesday, April 14, 2021, using the symbol COIN. If you have an Ally Invest Self-Directed account, you may be able to buy and sell shares as soon as the market for COIN opens. Just be aware the opening price is completely subject to market demand and could be volatile. (Keep in mind, this information should not be interpreted as a recommendation or investment advice.)

Opening an Account

There's no minimum deposit required to open a self-directed brokerage cash account. Self-directed brokerage margin accounts require a $2,000 minimum deposit. Robo portfolio accounts require a $100 initial minimum deposit.

Trading

Yes. All marginable U.S. equities and selected American Depository Receipts (ADRs) priced at $4 or more that trade either on an exchange or quotes on NASDAQ are eligible for DRIP. Dividends are reinvested on your behalf on the dividend payable date by our clearing firm. The reinvested position will reflect in whole and fractional shares. The reinvestment price will be the prevailing market price at the time the order is entered on the payable date.

We can set up your entire account so that any eligible security that you currently hold will be subject to DRIP. Any eligible securities that you purchase thereafter will be automatically enrolled in DRIP. A security will need to be enrolled for DRIP prior to the ex-dividend date in order for the dividend to be reinvested.

You can also always request individual positions in your account to be enrolled for DRIP at no charge.

Transfers

It sometimes takes 1 to 2 business days before our system displays the transfer in your account. Check your email for updates. We'll email when your transfer is initiated, and if it gets placed on hold or rejected, we’ll email with an explanation.

2021 Holiday Schedule

Select the market, service or activity to view how it’s hours or availability are affected by each 2021 holiday. Even during holidays, Ally Bank and Ally Invest service teams are available to assist you, 24/7.

US Securities Exchanges (NYSE, NASDAQ, etc.)

US securities exchanges 2021 holiday hours and closures
Holiday Market Status
Good Friday (April 2) Closed
Memorial Day (May 31) Closed
Fourth of July (Observed July 5) Closed
Labor Day (Sept. 6) Closed
Columbus Day (Oct. 11) Open
Veteran’s Day (Nov. 11) Open
Thanksgiving (Nov. 25) Closed
Day After Thanksgiving (Nov. 26) Each market will close early at 1:00 pm ET (1:15 for eligible options)
Christmas Eve (Observed Dec. 23) Open
Christmas Day (Observed Dec. 24) Closed
New Year’s Eve (Dec. 31) Open

Forex

Forex 2021 holiday hours and closures
Holiday Market Status
Good Friday (April 2) Open
Memorial Day (May 31) Open
Fourth of July (Observed July 5) Open
Labor Day (Sept. 6) Open
Columbus Day (Oct. 11) Open
Veteran’s Day (Nov. 11) Open
Thanksgiving (Nov. 25) Open
Day After Thanksgiving (Nov. 26) Open
Christmas Eve (Observed Dec. 23) Open
Christmas Day (Observed Dec. 24) Closed
New Year’s Eve (Dec. 31) Open

Bond Market

Bond Market 2021 holiday hours and closures
Holiday Market Status
Good Friday (April 2) Closes at 12:00 pm ET
Memorial Day (May 31) Closed. Closes at 2:00 pm ET, May 28
Fourth of July (Observed July 5) Closed. Closes at 2:00 pm ET, July 2
Labor Day (Sept. 6) Closed
Columbus Day (Oct. 11) Closed
Veteran’s Day (Nov. 11) Closed
Thanksgiving (Nov. 25) Closed
Day After Thanksgiving (Nov. 26) Closes at 2:00 pm ET
Christmas Eve (Observed Dec. 23) Closes at 2:00 pm ET
Christmas Day (Observed Dec. 24) Closed
New Year’s Eve (Dec. 31) Closes at 2:00 pm ET

Extended Hours

2021 holiday extended hours
Holiday Market Status
Good Friday (April 2) Closed
Memorial Day (May 31) Closed
Fourth of July (Observed July 5) Closed
Labor Day (Sept. 6) Closed
Columbus Day (Oct. 11) Open
Veteran’s Day (Nov. 11) Open
Thanksgiving (Nov. 25) Closed
Day After Thanksgiving (Nov. 26) Post open until 2:00 pm ET
Christmas Eve (Observed Dec. 23) Open
Christmas Day (Observed Dec. 24) Closed
New Year’s Eve (Dec. 31) Open

Deposits & Withdrawals; Account Management

Deposits and withdrawals account management 2021 holiday hours and closures
Holiday Market Status
Good Friday (April 2) Closed
Memorial Day (May 31) Closed
Fourth of July (Observed July 5) Closed
Labor Day (Sept. 6) Closed
Columbus Day (Oct. 11) Open
Veteran’s Day (Nov. 11) Open
Thanksgiving (Nov. 25) Closed
Day After Thanksgiving (Nov. 26) Closed – Opens at 1:00 pm ET
Christmas Eve (Observed Dec. 23) Open
Christmas Day (Observed Dec. 24) Closed
New Year’s Eve (Dec. 31) Open

Trade Settlement

Trade settlement 2021 holiday dates
Holiday Market Status
Good Friday (April 2) Non-Settlement Day Trade Date/ Settlement Date March 29/ March 31 March 30/ April 1 March 31/ April 5 April 1/ April 6
Memorial Day (May 31) Non-Settlement Day Trade Date/ Settlement Date May 25/May 27 May 26/May 28 May 27/June 1 May 28/June 2
Fourth of July (Observed July 5) Non-Settlement Day Trade Date/ Settlement Date June 29/July 1 June 30/July 2 July 1/July 6 July 2/July 7
Labor Day (Sept. 6) Non-Settlement Day Trade Date/ Settlement Date Aug. 31/Sept. 2 Sept. 1/Sept. 7 Sept. 2/Sept. 7 Sept. 3/Sept. 8
Columbus Day (Oct. 11) Non-Settlement Day Trade Date/ Settlement Date Oct. 5/Oct. 7 Oct. 6/Oct. 8 Oct. 7/Oct. 12 Oct. 8/Oct 13
Veteran’s Day (Nov. 11) Non-Settlement Day Trade Date/ Settlement Date Nov. 5/Nov. 9 Nov. 8/Nov. 10 Nov. 9/Nov. 12 Nov. 10/Nov. 15
Thanksgiving (Nov. 25) Non-Settlement Day Trade Date/ Settlement Date Nov. 19/Nov. 23 Nov. 22/Nov. 24 Nov. 23/Nov. 26 Nov. 24/Nov. 29
Day After Thanksgiving (Nov. 26) Settlement Day
Christmas Eve (Observed Dec. 23) Settlement Day
Christmas Day (Observed Dec. 24) Non-Settlement Day Trade Date/ Settlement Date Dec. 20/Dec. 22 Dec. 21/Dec. 23 Dec. 22/Dec. 27 Dec. 23/Dec. 28
New Year’s Eve (Dec. 31) Settlement Day

Options Expiration

Options expiration 2021 holiday dates and times
Holiday Market Status
Good Friday (April 2) Weekly expiration will be Thursday, April 1
Memorial Day (May 31) N/A
Fourth of July (Observed July 5) N/A
Labor Day (Sept. 6) N/A
Columbus Day (Oct. 11) N/A
Veteran’s Day (Nov. 11) N/A
Thanksgiving (Nov. 25) N/A
Day After Thanksgiving (Nov. 26) Each market will close early at 1:00 pm ET (1:15 for eligible options)
Christmas Eve (Observed Dec. 23) Weekly options expire Dec. 23
Christmas Day (Observed Dec. 24) N/A
New Year’s Eve (Dec. 31) Normal

Mutual Funds

Mutual funds 2021 holiday dates and times
Holiday Market Status
Good Friday (April 2) Closed
Memorial Day (May 31) Closed
Fourth of July (Observed July 5) Closed
Labor Day (Sept. 6) Closed
Columbus Day (Oct. 11) Open
Veteran’s Day (Nov. 11) Open
Thanksgiving (Nov. 25) Closed
Day After Thanksgiving (Nov. 26) Early close at 1:00 pm ET
Christmas Eve (Observed Dec. 23) Open
Christmas Day (Observed Dec. 24) Closed
New Year’s Eve (Dec. 31) Open

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