At PENSCO, we've had retirement investors inquire about converting Traditional IRAs to Roth IRAs to avoid having to take required minimum distrib... Read this article »
How to Turn Your Ideas Into Investments with PENSCO
You provide the investment idea. We provide the tax-advantaged platform (and a few experts to guide you through the process). Here's a guideline to get a sense for how it works:
|Opening Your Account||Funding Your Account||Purchasing Assets|
|Your Steps||Your Steps||Your Steps|
If you are transferring cash from another custodian, sign and submit the transfer-in documents with a copy of your most recent statement.
Based on the type of asset you plan to purchase (e.g., real estate, private equity, etc.) refer to the appropriate asset checklist to obtain and submit the proper documents to PENSCO. We will review the asset for eligibility and ensure the deal is IRS compliant.
All purchases must be made in the name of the retirement account: “PENSCO Trust Co. Custodian FBO [Your Name] [Type of Account]”
|Pensco Timing||Pensco Timing||Pensco Timing|
Your account will be open within 24 hours after we receive your completed application.
PENSCO initiates fund transfer requests within two days of receiving them.
Please call (866) 818-4472 for help.
The asset review takes 2-3 days after PENSCO receives all required documents from you.
|Third Party Timing||Third Party Timing||Third Party Timing|
It may take 3 to 4 days upon receipt of the transfer request by the current custodian holding the funds. Some custodians can take much longer; for example, a 401(k) rollover could take several weeks.
Documents from sponsors and other third parties vary by asset class and depends on the third party, ie. mortage broker, fund sponsor, etc. Typical timing is 5-10 days.