Yes. As a retirement account custodian, STRATA is required to receive and hold a confirmation of an investment to verify the asset purchase. Until investment confirmation is received by STRATA from the investment issuer/sponsor ("Sponsor"), the investment will be reflected as “Pending” on our records.
Within 30 days of receiving funds, Sponsors are required to provide written confirmation of the purchase, including registration, purchase amount, and date of purchase, in order to finalize the purchase status within the client account.
You may send the communication to NewInvestments@StrataTrust.com.
Once the information is received and processed by STRATA, the investment will be reflected as a confirmed investment position in the “Investment Holdings” section of the investor’s STRATA account statement and viewable in the investor's online account.
If STRATA has not received the correct documentation to process the investments following receiving the investment direction instructions, then we will notify the Sponsor first, followed by the accountholder, as laid out below:
| Time Period | Investment Documents Incomplete - STRATA Communication |
| 60 - Days | STRATA will send out a reminder letter to the Sponsor. |
| 90 - Days | STRATA will send out a reminder letter to the Sponsor and the accountholder. |
| 120 - Days | STRATA will send out a final reminder letter to the Sponsor and the accountholder. |
| 30 Days after Final Reminder* | If the investment confirmation documentation is not received 30 days after the final reminder, STRATA would unfortunately be forced to resign as custodian of this asset. As part of this resignation, STRATA would distribute the asset in-kind to the accountholder, which would trigger the filing of IRS Form 1099-R and potentially create a tax liability. |
*We recognize that there may be valid situations which delay the ability for an investment confirmation document to be provided to STRATA. If this is the case with this investment, please let us know in writing by contacting our Investment Updates Team at InvestmentUpdates@StrataTrust.com.