Direct Rollover from non-IRA plan

1. PENSCO Trust Application. Complete and mail in your self-directed IRA Application to the PENSCO Trust. As soon as we receive it in the mail, we will process it and email you your new account number

NOTE: Use our online application program to help you quickly complete the above form.

2. Authorize the qualified distribution from your current plan. Contact your current plan administrator and ask them what steps are necessary to complete a rollover of your qualified funds into an IRA. Typically, they will have a form for you to complete. In rare cases, the administrator will allow you to authorize the rollover over the phone. In either case, they will most likely need to know:
   
   a) The type of tax-deferred account you intend to roll the funds into – i.e. an IRA.

   b) The name and address of the new IRA custodian – PENSCO Trust Company c/o PENSCO Inc., P.O. Box 26903, San Francisco, CA 94126-6903.

   c). Often, your plan administrator will request your new IRA account number. Because you have already mailed in your IRA application, your may already have received the account number. If you have not, you should be able to contact the plan administrator with that information shortly.
   
   

3. Wait. Once you have submitted the required paperwork or information to your plan administrator, they should begin the process of issuing a check payable to your new IRA. This usually takes between 10-30 days. Sometimes they will mail the check directly to your new self-directed IRA custodian, and sometimes they will insist on mailing it to your home address. Don’t worry if they send it to you – just don’t cash it, make sure that it is made payable correctly, and forward it on to your new IRA custodian. It should be payable to: “‘PENSCO Trust’ FBO ‘Your Name’ IRA” or a close approximation. If they have made it payable to you individually or something else, you will need to call PENSCO Trust for assistance.