Thinking some more. As AEM sent Pensco no money in Apr, May and Jube,
there were no funds of mine in cash. Would seem wise to transfer any cash
in Pensco to another firm to be held in trust?
On Sun, Jul 28, 2019 at 2:14 PM Neil & Marilyn <nmr1311b@xxxxxxxxx> wrote:
Doug! Thinking, I better be sure of what I told you, I went back and
checked bank CC and then to Pensco. I had switched from paying by CC to
setting aside cash each month, they didn't help me at all.i They took cash
for Pensco to withdraw. I had done for maybe 2 months. I see they have in
red print that fees are due! So they tried to take all from me, but likely
got 2 of 3 months. So my email to them did no good. As I had not gotten any
notification from them, I assumed, they didn't charge me. We all know the
implication of the word assume as in "ass of u and me" :-( So I was wrong.
There was an email I received, though not finding, involving Pensco and
Hamstreet. Did anyone else see that?
On Sun, Jul 28, 2019 at 1:53 PM Doug Meddaugh <dmmedda@xxxxxxxxxxxx>
wrote:
That is interesting, because I was charged the full PENSCO quarterly fee
on 7/3. But then I have other (non-AEM) investments through PENSCO as well.
I will call tomorrow to find out if my quarterly fee should have been
reduced. Thank you for letting me know!
*From:* aem-vanc-bounce@xxxxxxxxxxxxx [mailto:
aem-vanc-bounce@xxxxxxxxxxxxx] *On Behalf Of *Neil & Marilyn
*Sent:* Sunday, July 28, 2019 1:45 PM
*To:* aem-vanc@xxxxxxxxxxxxx
*Subject:* [aem-vanc] Re: PENSCO
Doug, also we have no funds to draw on at Pensco, so therefore no RMD.
Maybe a very small RMD in a few years?
On Sun, Jul 28, 2019 at 1:41 PM Neil & Marilyn <nmr1311b@xxxxxxxxx>
wrote:
Doug, my understanding is same as your's. Fees are on hold til a
resolution. Hamstreet did indicate as you say.
On Sun, Jul 28, 2019 at 1:39 PM Neil & Marilyn <nmr1311b@xxxxxxxxx>
wrote:
Glen, I think, if you send a check received directly on to your trustee
you will be OK, but don't take my word for it, check with your trustee.
Just do not cash it first! :-)
On Sun, Jul 28, 2019 at 1:34 PM Neil & Marilyn <nmr1311b@xxxxxxxxx>
wrote:
That would be correct. With Pensco, I called them well before May 30 and
they requested I send them an explanation via email to a address they
provided. I did so and got a response that I assumed was sent to all with
Pensco associated with AEM. But maybe just to me? I received no billing in
July as would be normal. I was clear with them in my email that in fact I
had no money in any of the assets they listed.
I am thinking now that even though I received 1099's from them showing
interest received, it was mostly principle. They would not have known that.
AEM's 1099's were false, as their taxable "Interest" was mostly in fact
Principle. There all was mostly non taxable in reality. How to address
with the IRS? Anyone have thoughts. Can only go back 3 years with them
usually in any event. If we have to wait til there is some resolution, we
may never recover taxes paid on non interest.
On Sun, Jul 28, 2019 at 12:47 PM Glen Johnston <
glen.johnston@xxxxxxxxxxxxx> wrote:
Neil and Marilyn, I have two accounts, one of which is Qualified money,
that goes through IRA Services out of California. They have been notified
of all of this. I have been informed, that any disbursements must be paid
to the IRA company in trust for me Otherwise, if there's a check made out
to the investor , taxes will be due on that money. I am planning of coming
up with some money to fight for us!
Thank you all for your information ! Judy Johnston
-----Original Message-----
From: Neil & Marilyn
Sent: Jul 28, 2019 11:24 AM
To: aem-vanc@xxxxxxxxxxxxx
Subject: [aem-vanc] Re: PENSCO
Pensco has stopped charging myself quarterly fee.
On Sun, Jul 28, 2019, 11:21 AM Robert Johnson <rdj11256@xxxxxxxxx> wrote:
Do any of you have IRA funds with PENSCO? If so, have you contacted them
and what was the outcome?
Sent from Rob's iPad Pro
