Upon receipt of the completed Plan Establishment Kit, Ascensus will review the forms to ensure we have what is needed. If additional information is needed we will contact you or your Financial Advisor.
Ascensus will deliver all documents and amendments electronically. When the documents are ready, the employer will receive an email with a link to a secure site to access the documents.
If you are establishing recordkeeping services with Ascensus once the documents are signed and returned to Ascensus, we will email a welcome packet to you. Your welcome packet will provide you with the instructions on funding your newly established Individual 401(k) plan, a guide for administering your plan, and certain operational forms. These forms are also located on the
Forms page of this website.
IMPORTANT NOTE: Instructions on the remittance of contributions to your plan will be included in your welcome packet.
(DO NOT REMIT CONTRIBUTIONS TO ASCENSUS.)
The recordkeeping service Ascensus provides to Individual 401(k) plans is an accounting of the plan by money type (i.e., deferral, profit sharing, rollover, etc.). Contributions for the report period are posted to the account by money type, according to the instructions provided to Ascensus by the client. The net gain or loss of the entire investment account is applied to the money types on a pro-rata basis. Therefore, the Ascensus Individual 401(k) product requires that all money types use the same investment elections when it comes to the investment of contributions so that earnings are properly applied. Additionally, any transaction that is a transfer of assets between investments is also considered to be completed pro-rata per money type.
NOTE: The addition of Roth Elective Deferrals uses a different methodology than described and illustrated above. Roth Elective Deferrals are held in a separate account, any net gain or loss in that investment account is applied to only the Roth Elective Deferrals. Additional fees apply.
Document (Only) Initiation and Setup
After the plan documents are delivered electronically, the employer and financial advisor will receive a welcome email from the Ascensus service team. The welcome email will outline services, contact information for Ascensus, and other helpful information.
Electronic Signature
The employer will be asked to electronically complete and sign all required documents. The electronic submission and signature technology is provided by Sertifi. Sertifi is a leader in online document eSignature solutions. Sertifi’s eSign Solution encryption technology meets the standards set by the financial services industry and the Government Paperwork Elimination Act. You can learn more about Sertifi at
https://www.sertifi.com.
Invoicing Process
All invoices will come from Billtrust, a reputable third-party vendor that allows employers to make secure payments directly. You can learn more about Billtrust at
https://www.billtrust.com.
Client Initiated Amendments
If employers want to amend their plan document after the plan establishment process is complete (e.g. change plan’s eligibility criteria), they should call Ascensus for instructions on submitting the request.