Pensco Expense Payment Form PDF Details

For those navigating the complexities of managing investments through their PENSCO account, the Expense Payment Form plays a vital role in ensuring that payments related to investments are processed efficiently and accurately. This form, designed for PENSCO accountholders, requires detailed information about the account and investment to ensure that funds are rightly allocated for expenses such as taxes, insurance payments, or HOA fees. It is critical when requesting expenditure over $5,000, as it necessitates a detailed breakdown of the expenses, and in cases where the payment is towards capital improvements, it seeks additional validation to affirm the enhancement in the asset's value. The form outlines multiple payment methods including wire, ACH, or check, accommodating different preferences and situations, each with its specific instructions to guarantee a smooth transaction. Moreover, the authorization section at the end reinforces the importance of accountability and understanding of the terms aligned with the account's Custodial Agreement, and the liability PENSCO won’t bear in certain adverse situations. It underscores PENSCO’s role as a facilitator of transactions rather than an advisor, making it clear that accountholders are in control of their investment decisions, within the boundary of applicable laws and regulations.

QuestionAnswer
Form NamePensco Expense Payment Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesinsolvency, HOA, pensco, FDIC

Form Preview Example

*IRA-5201*

Toll Free: 1-800-962-4238

www.pensco.com

EXPENSE PAYMENT FORM

Instructions

Use this form when requesting that PENSCO pay an expense with funds from your PENSCO account. Please include supporting documents (e.g. bill, invoice, etc.) when submitting this form to PENSCO.

1. PENSCO Account and Investment Information

Account #: _______________________________________________________________________________________________________

Accountholder’s First Name: ______________________________MI: _____Last Name: _____________________________________

Primary Phone #: (________) _________ - ________________

Name of Investment:_______________________________________________________________________________________________

(e.g., name of asset if LLC, LP or C-Corp, property description of real estate, or borrower’s name if a note) Percent of Ownership ___________ %

2.Payment Information

Any request over $5,000.00 requires a breakdown of what the funds will be used for.

If the payment requested is to a property manager, they must be listed on the account prior to a payment being processed.

Amount: $_______________ Expense payment due date: ______________________________________________________

Purpose of payment:_____________________________________________________________________________________

(e.g., “tax payment,” “insurance payment,” “HOA fees”)

Memo/reference:________________________________________________________________________________________

(escrow #, account #, etc.)

Payee’s name:__________________________________________________________________________________________

(i.e., to whom you want PENSCO to make the payment.)

Address: ______________________________________________________________________________________________

(This must be a physical address if you want PENSCO to overnight a check and/or any signed documents) City: _________________________________________________ State:_________ Postal Code: ___________ - __________

3.Capital Improvement Information (Complete this section if the payment you are authorizing is for a capital improvement that will increase the value of the asset in your PENSCO account.

Capital Improvement

Yes

No

Capital Improvement payment represents as increase in value of $ __________________________________________________ to

(insert description of asset) ________________________________________________________________________________________

If the increase in value exceeds $25,000 or represents an increase in the value to the asset of more than 20%, you must provide supporting documentation regarding the change in value (e.g., market comp., appraisal, etc.)

Confidential once completed.

Expense Payment Form IRA-5201 (11/06/12)

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4.Payment Instructions

Select one method (Please refer to your current Fee Schedule for applicable fees. You must pay qualified investing fees with cash from your account).

A. Wire (fee applies) Bank name: _______________________________________________________________________________

ABA #/routing #: __________________________________________ Bank account #: ___________________________________

Other Instructions: ___________________________________________________ Bank phone #: (______) _______ - ______________

Overnight signed documents to the payee (fee applies)

---------------------------------------------------------------------------------------------------------------------------------------

B .

ACH (Please make sure the receiving bank can support ACH) Bank Name: ____________________________________

ABA #/routing #: __________________________________________ Bank account #: ___________________________________

Other Instructions: ___________________________________________________ Bank phone #: (______) _______ - ______________

Overnight signed documents to the payee (fee applies)

---------------------------------------------------------------------------------------------------------------------------------------

C. Check

Please mail to the payee address in Section 2

Mail check to other: ___________________________________________________________________________________________

Address: _________________________________________________________________________________________________________

City: _________________________________________________ State:_________ Postal Code: ___________ - __________

Overnight signed documents to the payee (fee applies)

5.Authorization

The person signing this form must be an authorized party for the account on file with PENSCO.

I agree to release, indemnify, defend, and hold PENSCO harmless for any claims arising out of this payment. This includes, but is not limited to, claims that this payment is not prudent, proper, legal, or diversified. I also understand and agree PENSCO will not be responsible to take any action should the investment noted herein become subject to default, including fraud, insolvency, bankruptcy, or other court order or legal process. This payment is further subject to all terms and conditions of the accountholder’s Custodial Agreement within PENSCO and all applicable State and Federal laws.

Authorized By: _____________________________________________________________________________________________________________

(Printed name of authorizing party)

________________________________________________________________________________________________

_______________________

Authorized Party Signature (Required)

Date

Phone: 800-962-4238

Send mail to:

For express deliveries:

Fax to: 303-614-7032

PENSCO Trust Company

PENSCO Trust Company

www.pensco.com

P.O. Box 173859

717 17th Street, Suite 2200

 

Denver, CO 80217-3859

Denver, CO 80202-3308

PENSCO does not provide investment advice, does not sell investments, and does not offer tax or legal advice. PENSCO does not evaluate, recommend or endorse any advisory firm or investment. Investments are not FDIC insured and are subject to risk, including the loss of principal.

Confidential once completed.

Expense Payment Instructions IRA-5201 (11/06/12)

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This document will require some specific information; to ensure accuracy, you should consider the subsequent suggestions:

1. The LLC requires certain details to be inserted. Ensure that the following fields are finalized:

A way to fill in 17th step 1

2. The next part would be to complete all of the following blank fields: Payees name, ie to whom you want PENSCO to make, Address This must be a physical, City State Postal Code, Capital Improvement Information, Capital Improvement Yes, Capital Improvement payment, insert description of asset, If the increase in value exceeds, Confidential once completed, and Expense Payment Form IRA.

City State Postal Code, If the increase in value exceeds, and Capital Improvement payment inside 17th

3. This third part is quite straightforward, Payment Instructions Select one, Wire fee applies Bank name, ABA routing Bank account, Other Instructions Bank phone, Overnight signed documents to the, ACH Please make sure the receiving, ABA routing Bank account, Other Instructions Bank phone, Overnight signed documents to the, Check, Please mail to the payee address, Mail check to other, Address, City State Postal Code, and Overnight signed documents to the - these fields will have to be filled out here.

ABA routing Bank account, Wire fee applies Bank name, and Mail check to other in 17th

Always be very attentive when completing ABA routing Bank account and Wire fee applies Bank name, as this is the section in which many people make mistakes.

4. This next section requires some additional information. Ensure you complete all the necessary fields - Authorized By, Printed name of authorizing party, Authorized Party Signature, Date, Phone Fax to wwwpenscocom, Send mail to PENSCO Trust Company, For express deliveries PENSCO, and PENSCO does not provide investment - to proceed further in your process!

The right way to fill in 17th stage 4

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