IMPORTANT CHECK FUNDING REMITTANCE CHANGE
In an effort to enhance our efficiencies and improve customer service, PenChecks Trust is utilizing a lockbox deposit processing system through our bank for funding remitted via check.
The lockbox is available immediately, however check remittance via the lockbox will be required after December 1, 2016. Checks received at our office after December 1, 2016 will be forwarded to the lockbox processing center, and may result in a longer deposit processing period and possible delay of plan assets visibility within P3. To avoid delays of 3-5 business days, please utilize the updated remittance instructions shown below.
To avoid this delay, effective December 1, 2016, all funding remitted via check for Payment Processing Only (PPO), Full Service (Check Plus), Express Default/Missing Participant IRA or Premier Default/Missing Participant IRA (Auto Rollover) and Recurring Benefit Payment (RBP) distributions must be sent as follows:
PenChecks Trust Company of America
Dept. 256
PO Box 509015,
San Diego, CA 92150-9015
Make Checks Payable to: PenChecks Trust Company of America
Memo/Reference: Plan Name, Beneficiary Name and/or P3 Distribution or Batch ID
FOR OVERNIGHT/COURIER DELIVERY please use the following address:
PenChecks Trust Company of America
Attn: CB&T Lockbox Deposit Processing
9775 Clairemont Mesa Blvd.
San Diego, CA 92124
YOU MUST REFERENCE THE PLAN NAME, BENEFICIARY NAME AND/OR P3 DISTRIBUTION OR BATCH ID TO AVOID PROCESSING DELAYS OR REJECTION OF FUNDS
There are no changes to funds remitted via wire transfer or ACH.
Any correspondence not included with a funding remittance must be sent to: PenChecks Trust Company of America, 8580 La Mesa Blvd., Suite 101 La Mesa CA 91942
We appreciate your cooperation with this improved procedure and look forward to a continued mutually beneficial relationship.
NOTE: IF YOU ARE UTILIZING OUR MISSING DISTRIBUTEE/UNCASHED CHECK SERVICE, PLEASE CONTACT PENCHECKS FOR APPROPRIATE REMITTANCE INSTRUCTIONS