Fall 2018 Quarterly Update

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Fall 2018 Quarterly Update

Oct 01 2018

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Did You Know?

  • New Phone Number! In order to provide you with more streamlined services, we are launching a new phone number specifically for our IRA clients. This number is (833) 248-7878. We hope to deliver a better experience for our clients and our team by allowing you to reach the first available, most qualified Associate to assist with your inquiry.  
  •  New Online Portal. In mid-October, we will be launching a new Online Portal. This portal will allow you to view your account balances and transaction history, as well as save a credit card as a method of paying fees. In the coming months, you will also be able to view tax forms and quarterly statements as well as initiate incoming transfer requests, direct investments and more.  
  • Third Quarter Statements will be slightly delayed. Due to the launch of our new Online Portal, Third Quarter Statements will be available on the new portal by the end of October. Should you need it sooner, please contact us.   
  • New forms coming soon. Polycomp Administrative Services is working hard to assess their forms and will be rolling out forms with a new look and feel between now and the end of the year. The new forms will be made available on our website.  
  • Withholding Notice and Election Forms. If you are taking periodic distributions, you will receive a Withholding Notice and Election Form from our office in November. Federal income tax regulations require us to send you this notice each year. You are required to return the form ONLY if you wish to change your Federal or State withholding election.   
  • Address and/or phone number changes can be emailed to IRASupport@polycomp.net or faxed to (916) 773-3484. It’s important that we have your correct contact information (especially email addresses) on file. We are anticipating exciting changes to online access over the next couple of months and having an email address on file will allow us to effectively communicate those changes to you.

Fair Market Valuations

Provident Trust Group provides the IRS with the Fair Market Value of your account as of December 31st each year. Provident Trust Group will use the Fair Market Value listed in our system to report the value of your account on the IRS Form 5498 and will use this value to calculate your Required Minimum Distribution, if applicable.    

For the most up-to-date value of your account(s), please review your account(s) at our online portal at: http://www.polycomp.net/Client-Login.    

If you agree with the asset value(s) listed online, you do not need to do anything with the Fair Market Value Form which you will receive. Provident Trust Group will report the value as displayed online as of December 31, 2018.    

If the value(s) are not correct according to your records, please submit the Fair Market Value Form you will receive, along with documentation supporting that valuation. Please see the FMV Form Instructions on how to complete the Fair Market Value Form.   

 

Contacting the Team

 

Please contact us at IRASupport@polycomp.net, (833) 248-7878, or by fax at (916) 773-3484 and the appropriate team member will help you.

Standard Office Hours - Monday to Friday, 8AM-5PM.

Drop-off/Appointment Hours - Northern California, Monday to Thursday 8AM-5PM, Friday 8-12PM (after 12PM by appointment only), Southern California, Monday to Friday, 8:30AM-4PM