NAICS Code 523940-03 - Tax Sheltered Investments

Marketing Level - NAICS 8-Digit

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NAICS CODE 523940-03
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NAICS Code 523940-03 Description (8-Digit)

Tax Sheltered Investments is a subdivision of the Portfolio Management and Investment Advice industry that focuses on investments that provide tax benefits to investors. These investments are designed to reduce the amount of taxes paid on income, capital gains, or both. Tax Sheltered Investments are typically long-term investments that offer a range of benefits to investors, including tax-deferred growth, tax-free withdrawals, and reduced tax liability.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 523940 page

Tools

Tools commonly used in the Tax Sheltered Investments industry for day-to-day tasks and operations.

  • Tax-Advantaged Mutual Funds
  • Exchange-Traded Funds (ETFs)
  • Municipal Bonds
  • Real Estate Investment Trusts (REITs)
  • Annuities
  • Life Insurance Policies
  • 401(k) Plans
  • Individual Retirement Accounts (IRAs)
  • Health Savings Accounts (HSAs)
  • Education Savings Accounts (ESAs)

Industry Examples of Tax Sheltered Investments

Common products and services typical of NAICS Code 523940-03, illustrating the main business activities and contributions to the market.

  • Retirement Savings
  • College Savings
  • Health Care Savings
  • Charitable Giving
  • Real Estate Investments
  • Energy Investments
  • Infrastructure Investments
  • Agriculture Investments
  • Film Production Investments
  • Art Investments

History

A concise historical narrative of NAICS Code 523940-03 covering global milestones and recent developments within the United States.

  • The concept of tax sheltered investments has been around for centuries, with the first recorded instance of tax-exempt bonds being issued in the United States in 1913. However, it wasn't until the 1950s that the industry really began to take off, with the introduction of the first tax-deferred annuity. This was followed by the creation of the first individual retirement account (IRA) in 1974, which allowed individuals to save for retirement while deferring taxes on their contributions. In recent years, the industry has seen a shift towards more socially responsible investing, with a growing number of investors looking to invest in companies that align with their values. In the United States, the tax sheltered investments industry has seen significant growth in recent years, with the total assets held in IRAs and 401(k) plans reaching $28.2 trillion in 2020. This growth has been driven by a number of factors, including the increasing popularity of defined contribution plans, such as 401(k)s, and the growing number of individuals who are self-employed or working in the gig economy. In addition, the passage of the SECURE Act in 2019 has made it easier for small businesses to offer retirement plans to their employees, which is expected to further boost growth in the industry in the coming years.