The Rask Invest account opening process is 100% online and (unless you are investing via a family trust) you do not need to send through or attach any paperwork. Let's get going.
Information you need to invest
Please select the entity type you wish to open a Rask Invest account under.
Getting the right holding structure is really important. That's why Rask Invest has been created to handle all of the common investor types. This article helps you understand what information you'll need.
Confused about how to apply as a company, trust, SMSF or minor account? Follow the Rask Invest guide for different investor types.
Individual investor accounts
Individual investor accounts
We will require the following details during the application process when you open a Rask Invest account (PMA).
Full Name
Date of Birth
Residential Address
Phone Number (Landline/Mobile)
Email Address
Tax File Number (AUS) or Tax Identification Number (O/Seas)
Australian Bank Account details
(BSB & Account Number)
One Additional Source of Identification
(Australian License/Medicare/Passport)
Joint accounts
Joint accounts
We will require the following details for each individual looking to open a joint Rask Invest account (PMA).
Full Name
Date of Birth
Residential Address
Phone Number (Landline/Mobile)
Email Address
Tax File Number (AUS) or Tax Identification Number (O/Seas)
Joint Australian Bank Account details
(BSB & Account Number)
One Additional Source of Identification
(Australian License/Medicare/Passport)
SMSF investors
SMSF investors
A lot of people use SMSFs to invest with Rask Invest because we make things easy, transparent and low cost. Your accountant can also get automated tax information from us - making their life easy.
Within your SMSF, you typically have one of two different types of trustee:
Company/Corporate trustee
Individual trustee
We can handle both types of SMSF investors. It's easy to set up. You'll find the information you need below. If you're unsure how your SMSF is structured, it's best to contact your tax or financial advisor. Alternatively, you can email a copy of the SMSF Trust Deed to invest@rask.com.au.
1. SMSF (Corporate Trustee)
For each individual(s) listed as director(s) of the corporate entity acting as the trustee for the SMSF, we'll need:
Full Name
Date of Birth
Residential Address
Phone Number (Landline/Mobile)
Email Address
One Additional Source of Identification (License/Medicare/Passport)
To verify the SMSF as an entity, we need:
Superannuation Fund Name
The SMSF's Australian Business Number (ABN)
The Superannuation Fund's Bank Account
BSB & Account Number
We will also require the following details to verify the corporate trustee as an entity.
The name of the company that is the trustee of the SMSF
Australian Company Number (ACN)
Principal Place of Business Address
Registered Office Address
2. Individual trustee
For each individual listed as a trustee (there can be up to 4), we'll need:
Full Name
Date of Birth
Residential Address
Phone Number (Landline/Mobile)
Email Address
One Additional Source of Identification (License/Medicare/Passport)
To verify the SMSF as an entity, we need:
Superannuation Fund Name
The SMSF's Australian Business Number (ABN)
The Superannuation Fund's Bank Account
BSB & Account Number
Trusts (family trust, discretionary trust, etc.)
Trusts (family trust, discretionary trust, etc.)
Family trusts are very popular within Rask because they offer flexibility for family units, business owners and investors. In Australia, you have a choice between two structures for your Trust where:
individuals are listed as trustee (Individual Trustee)
a company is listed as trustee (Corporate Trustee)
Rask will require different details depending on the structure of your Trust, so please see the relevant option below to see the correct requirements for you.
1. Family Trust (Individual Trustees)?
Rask will require the following details from the individuals listed as trustees for the Trust looking to submit an application to open a Rask Invest account (PMA).
Full Name(s)
Date of Birth(s)
Residential Address
Phone Number (Landline/Mobile)
Email Address
One Additional Source of Identification (License/Medicare/Passport)
We will also require the following details relating to the Trust itself.
Trust Name Australian Business Number (ABN)
Tax File Number (TFN)
Trust Bank Account (BSB & Account Number)
If your Trust doesn't have an Australian Business Number (ABN) then we will require you to arrange for three pages of the Trust deed to be certified, within the last three months, and emailed to us at invest@rask.com.au:
Cover Page
Schedule Page
Signature Page
2. Corporate Trustee family trust
We will require the following details from those individuals listed as directors of the corporate entity acting as trustee for the Trust looking to submit an application to open a Professionally Managed Account (PMA).
Full Name(s)
Date of Birth(s)
Residential Address
Phone Number (Landline/Mobile)
Email Address
One Additional Source of Identification (License/Medicare/Passport)
We will also require the following details in order to verify the corporate trustee entity.
Company Name
Australian Company Number (ACN)
Principal Place of Business Address
Registered Office Address
We will also require the above mentioned details relating to the Trust itself.
Children / minor / kids account
Children / minor / kids account
Rask, as a brand and purpose, is built for families to create wealth and for investors to positively help the communities around them. So we love it when people set up Rask Invest Kids accounts.
Rask Invest caters for those who wish to create an investment portfolio for kids (under 18s) and be legally allowed to invest in their own name.
Rask Invest Kids strategy - Luna
We have an online application and purpose-built investment strategy (Luna) for this type of investor. It's our simple, long-term growth strategy.
What do I need to know about investing for kids with Rask?
Legally, an adult must hold shares on behalf of a child in Australia. So, during the application, we will require an adult/s to "act as trustee" for the minor. Please keep in mind that this does not create a legal trust, such as a "family trust" (see above). This is different - and less costly.
We will require either the adult/s or the minor to provide their Tax File Number (TFN) and accept tax liability for the investments held. This may impact what happens when your child turns 18 (or however old), when you want to give them the shares. It may also impact who gets taxed on income (e.g. distributions/dividends) between now and them becoming an adult.
Please consult your tax professional if you have any doubts over whose TFN will be best for your circumstances. Or read our guide - How to Invest in ETFs for Kids (tax overview) .
We will require the adult/s to provide the following details to act as trustee.
Full Name
Date of Birth
Residential Address
Tax File Number - if accepting tax liability
One Additional Source of Identification (License/Medicare/Passport)
We will require the following details for the minor:
Full Name
Date of Birth
Residential Address
Tax File Number - if accepting tax liability
Finally, there needs to be an Australian bank account provided during the application that is either in the name of the adult, the child or the adult as trustee for the child.
How to invest via a company (Pty Ltd), SMSF, Minor or Trust
Investing via a company or SMSF can be set-up online in Step 2 of the onboarding process.
Steps:
Select the drop-down tab for "investor type"
Select your Rask Invest account type (note: some options like SMSF or minor accounts can be toggled at the top)
Select "update"
Continue your application
Select Dropdown
Toggle for extra Investor types
Depending on the type of account, you will require different types of information to verify your account. It can take a few days from application to being fully invested.
Setting up an automated regular contribution via direct debit
This can be done via the application form or when your account is up and running via the Investment Preferences section. From the application, under your bank details click the + sign to open the direct debit request form and type in the amount you wish to contribute each month.
Can I save my application and resume it later?
Yes you can! Your application will be automatically saved. Next time you login to Rask Invest you'll see the application progress bar and you'll be able to jump right back in.
How do I set up my dividend preferences?
The default for your account is to have the dividends reinvested. To have the dividends paid out head to the Investment Preference section when your account is open and turn on the Income Sweep. Make sure you scroll down and click save!
I've submitted my application but I need to change some of the information
To submit a change you will need to email us at invest@rask.com.au.
There will be some instances where we will need you to complete a new application. This is most common when investors select the wrong trustee type for an SMSF or other trust. E.g. an investor selects individuals as trustee rather than a company as trustee. Our team will let you know if you need to complete a new application.