Polycomp Trust Company
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Polycomp Trust Company (PTC) is a state-chartered, non-depository trust company that is regulated by the South Dakota Division of Banking. PTC serves as a nontraditional asset custodian for self-directed IRAs administered by Polycomp Administrative Services, Inc. We provide our clients with the opportunity to have maximum flexibility in the selection of their IRA investments with trust services recognized for excellent quality and personalized customer assistance. Together with Polycomp Administrative Services, PTC provides expert advice and assistance on administrative transactions. In order to avoid any real or potential conflicts of interest, we do not sell investment products or provide investment advice.
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 and is regulated by the banking division of the state in which it holds its charter.
Why South Dakota?
The legislature of the state of South Dakota, through its banking laws, has created a climate of increased trust company activity and increased innovations in the trust company business. South Dakota provides a favorable business environment, progressive trust law, and minimum capital requirements. PTC operates an office in Sioux Falls, South Dakota that is open during normal business hours, and the Polycomp offices in California provide administrative services to all IRA Holders.
Where is the cash deposited?
Depending on the location of the Polycomp office, the cash is deposited in either a Northern or Southern California bank.
Is the cash insured by the FDIC?
Yes, the custodial cash deposits are insured up to $250,000 by the Federal Depository Insurance Corporation (FDIC). The other assets in the self-directed IRAs are not insured by the FDIC.
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