Roth Rollover to self-directed Roth 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 PENSCO Trust's minimum cash balance requirement. Additionally, you may want to leave extra cash in your new account to cover your maintenance fee.
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 PENSCO Trust Roth IRA. You will flip it over, sign the back and write "Make payable to PENSCO Trust FBO 'Your Name' Roth IRA".
2. Complete PENSCO Trust's IRA 60-Day Cash Rollover Designation form (so that we may report the contribution correctly to the IRS, enabling you to avoid tax or penalties).

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 the self-directed Roth Set Up Fee ($50)