What is a state chartered non-depository trust company?
A state chartered non-depository trust company is a financial institution that holds assets of depositors either as a custodian or trustee and is regulated by the banking divisions of the state in which it holds its charter.

Why South Dakota?
South Dakota provides one of the most comprehensive and favorable business climates today for non-depository trust companies, accompanied by stringent yet progressive trust law and audit procedures.

Are your funds FDIC insured?
YES, your custodial cash deposits will be insured up to $250.000 by the Federal Depository Insurance Corporation (FDIC)

Where will my cash be deposited:
We will continue to use banks with the IDC financial ratings in the 150 range or above, providing the highest available rate of interest given the economic conditions at the time.

Who will be responsible for preparing and issuing 1099R's and 5498's?
All 1099R's, 1099INT's and 5498's will be issued by PenChecks Trust Company of America under its tax ID number.

When both federal and state tax withholding is required- who will be responsible for such deposits?
PenChecks Trust Company of America, acting either as the trustee or custodian, is liable to make all such deposits.