Cash Rollover To Self-Directed IRA

Request a Distribution Check from your current IRA custodian

1. If you are not requesting a distribution of the full account, it is best to request at least $500-$1000 over the projected amount of your initial investment in order to satisfy our minimum cash balance requirement. Also, if you are not electing to have the maintenance fees for your account charged to a credit card, you will need to make sure there is enough cash to cover them as well.
2. Ask that no taxes be withheld from your distribution, since you are going to avoid them anyway.

Complete PENSCO Trust's self-directed IRA Application and hold on to it until you get your Distribution Check

Once you receive your check in the mail (or pick it up in person), do the following:

1. Endorse the check over to your new IRA. You will flip it over, sign the back and write "Make payable to 'PENSCO Trust' FBO 'Your Name' IRA".
2. Complete PENSCO Trust's IRA 60-Day Cash Rollover Designation form (so that they report your rollover correctly to the IRS, enabling you to avoid tax or penalties).
3. Often, your plan administrator will request your new IRA account number. Because you have already mailed in your IRA application, you may already have received the account number. If you have not, you should be able to contact the plan administrator with that information shortly.

Mail the following to PENSCO Trust Company:

1. IRA Application form (original)
2. IRA 60-Day Cash Rollover Designation form (original)
3. Endorsed Check
4. Form of payment for PENSCO Trust's self-directed IRA Set-Up Fee (Enclose $50 check payable to PENSCO Trust or authorize use of your credit card on file).