2018 Spring-AT.ai

§3(16) Fiduciary Administrative Services

Appoint American Trust as a §3(16) Fiduciary Signer! We now offer a §3(16) fiduciary signing service for the Form 5500, providing you the opportunity to outsource the annual responsibility of signing and filing the Form 5500. American Trust will serve as a §3(16) fiduciary for purposes of filing the Form 5500. Note: this requires an addendum to your service agreement. We are responsible for the preparation and filing of the Form 5500 on your behalf. There is an annual fee of $150, and if you are a large filer (audited) plan, the annual fee is $250. The fee can be invoiced to the plan or charged to participants’ accounts. After the 5500 is successfully signed and e-filed, you will be provided a copy for your records, including the Summary Annual Report (SAR) for distribution to plan participants.

Distribution Oversight Through our Distribution Oversight program, we can reduce the administrative duties and risks associated with your retirement plan. What is it exactly? We will take on the role of approving and denying loans, hardship withdrawals, and other distributions under the plan, making the process easier for you. We will provide the correct forms, answer all participant questions, review and approve or deny applications, send checks directly to the participants, work directly with the participants to obtain the appropriate documentation, monitor loan repayments and hardship withdrawal suspension periods, and more! In addition, new §3(16) fiduciary administrative services will be available later in 2018. This will provide you more options to further reduce administrative burdens, responsibilities, and liabilities that come with sponsoring a qualified retirement plan.

Don’t miss out on these great opportunities to enjoy reduced administrative burden and risk. Watch for additional services coming in 2018!

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