PENSCO can hold alternative assets in:
- Traditional and Roth IRAs
- Inherited and beneficiary IRAs
- Small business retirement plans: SEP-IRAs, SIMPLE IRAs, Solo 401(k)s
- Custodial accounts: 401(k), Profit Shares
- Other qualified plans
PENSCO experts review each transaction to ensure proper custody of the asset and document IRA ownership for tax deferment and IRS reporting needs over the assets lifetime. We have the knowledge needed to efficiently handle all aspects of account administration.
PENSCO provides up-to-date reporting of all investment activity in the account, including:
- Quarterly statements
- Annual asset valuation solicitation and reporting
- Required IRS reporting and documentation and, if necessary, payment of Unrelated Business Income Tax (UBIT)ff
PENSCO’s clients take advantage of our online functionality for seamless and efficient account management. Investors can make deposits, pay expenses and monitor the progress of transactions with our step-by-step status tracking feature.
- Real estate income and asset servicing. All activity related to the real estate investment must occur within the retirement account – that’s why it’s key to have an experienced custodian like PENSCO manage the cash flow. We’re here to ensure rental income is collected, expenses and taxes are paid and that your account maintains its tax-advantaged status.
- Cash flow management. All activity related to the private equity investment must occur within the retirement account. For example, if the private equity investment has capital calls or taxes due, PENSCO efficiently handles these transactions.
We deposit uninvested cash into FDIC-insured banks, providing each investor with coverage of up to $250,000 per institution. We may deposit an account’s cash in multiple banks to ensure that the entire cash balance is FDIC-insured.
PENSCO maintains a comprehensive information security program that governs access to physical and electronic client information. We employ leading external experts to regularly test our network security, audit our information security controls, and continuously monitor and improve our website security.
We maintain a comprehensive business continuity plan that includes redundant systems, a high-availability data center, electronic image routing, remote access and cloud queuing of phone calls.
PENSCO maintains management liability, professional liability and fidelity bond coverage for the failure to render professional services and for illegal acts, such as fraud and theft, by employees, directors and owners.