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You can choose comprehensive trust or custodial services from Charles Schwab Trust Company (CSTC), a division of Charles Schwab Bank, or tailored custody services through Charles Schwab & Co., Inc., the registered broker-dealer. With a seamless electronic link to the trustee of your choice, your plan assets are safeguarded with meticulous care and impressive speed.
Trust services.
CSTC, as a division of Charles Schwab Bank, a federal saving bank, provides you with directed trustee or custodial services, including the following functions:
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Report contributions by money source
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Process distributions, issue IRS Form 1099-R
to participants, withhold and submit federal and state taxes
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Process in-kind rollovers to Schwab IRAs
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Forward notices of corporate actions to the
Plan Sponsor or investment manager, and process capital changes
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Provide timely, comprehensive trustee reports
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Provide the critical information needed to complete
IRS Form 5500
Broker-dealer custody services.
With enhanced custody services through the Schwab broker-dealer,
you get the advantage of automatic investment of cash balances
and daily account valuation.
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