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Yes, the minimum age is 13, in compliance with the U.S. Childrenâs Online Privacy Protection Act (COPPA). Snapchat ask for a date of birth upon sign up, and if the birth date indicates that the user is under 13, theyâre not allowed to create an account.
As the custodian, you (the adult) control the assets in the custodial IRA until your child reaches age 18 (or 21 in some states), at which point the assets are turned over to him or her. The IRA is opened in your childâs name, and you will have to provide his or her social security number when you open the account.