Independent profile. Not owned, sponsored or endorsed by PenChecks Trust.
PenChecks Trust Reviews, Complaints & Contacts
PenChecks Trust (PenChecks Trust Company of America) is, according to its own site, a state-chartered, non-depository trust company (listed by the South Dakota Division of Banking as a South Dakota public trust company) in La Mesa, California that processes retirement plan distributions and serves as custodian of Automatic Rollover and Missing Participant IRAs for employers and plan providers. This page lists its published contacts, its own explanation of why you may have an account, fee statements from its FAQ, the South Dakota charter listing, and the BBB and ComplaintsBoard figures as displayed on 2026-10-22.
Contacts & Login
Customer service & general contact
- Customer Experience (Mon-Fri 7am-5pm PT)1-800-541-3938
- General information address[email protected]
Cancel, billing & returns
- Help desk (payments, check status, reissue)[email protected]
- Monthly pension payments team[email protected]
Account & login
- Benefit election site (my.penchecks.com)my.penchecks.com ↗
- Benefit election site (mybenefitelection.com)mybenefitelection.com ↗
Show all 10 contacts
Account & login (continued)
- Online request portal (no login)penchecks.my.site.com/ServicePortal/s ↗
Fax & written correspondence
- Fax619-567-8084
Other contacts
- PenChecks Trust official websitepenchecks.com ↗
- Missing Participant IRA address[email protected]
Locations
- Headquarters8580 La Mesa Blvd, Ste 101 La Mesa CA 91942
- Branch office122 S. Phillips Ave, Ste 230 Sioux Falls SD 57104
Is PenChecks Trust Legitimate?
- Legal name
- PenChecks Trust Company of America
- Business type
- Retirement plan distribution services and IRA custodian: PenChecks Trust (PenChecks Trust Company of America, PTCA), a state-chartered, non-depository trust company in La Mesa, California and wholly owned subsidiary of PenChecks, Inc., processes retiremen
- Website
- penchecks.comSource: checked 2026-10-22
- Headquarters
- La Mesa, CASource: FAQs for individuals, checked 2026-10-22
- Owned by
- PenChecks, Inc.Source: penchecks.com About, checked 2026-10-22
PenChecks Trust Company of America describes itself on penchecks.com as a state-chartered, non-depository trust company wholly owned by PenChecks, Inc., with a published address (8580 La Mesa Blvd, Ste 101, La Mesa, CA 91942), phone, email and fax. BBB displays a profile for "PenChecks Trust" at the same address with A+ and BBB Accredited status, together with the complaint and review counts shown on this page.
As of 2026-10-22, the South Dakota Division of Banking list names PenChecks Trust Company of America as a chartered public trust company, and a Justia federal docket party search for "PenChecks" shows one case, Doctor Billa, LLC v. Penchecks Inc. (S.D. Cal. 3:2023cv01717), in which the court dismissed the claims against Penchecks Inc. without prejudice on 2023-11-03 (see the court case entry; Justia's copy was last retrieved 2023-11-03).
If an unexpected letter says your former employer's plan moved your money to PenChecks, the company's own pages tell you how to reach it; you can also confirm the transfer with the former employer or plan administrator using contact details you already know, rather than details printed on a message you did not expect.
Independent Sources
Shown for context — not merged with USAComplaints' own numbers.
Complaint record: BBB, ComplaintsBoard and our archive
BBB (as displayed on 2026-10-22). The BBB profile for PenChecks Trust, 8580 La Mesa Blvd Ste 101, La Mesa, CA, is labelled "BBB Accredited Business" with an A+ rating. Its complaints tab shows 144 complaints in the last 3 years and 92 complaints in the last 12 months. Its reviews tab shows 3.47 out of 5 from an average of 355 customer reviews. BBB's raw page data gives accredited 2017-11-01, file opened 2012-12-14, and business start and incorporation 1994-03-14; BBB lists the alternate name "Penchecks Inc" and does not say which legal entity those 1994 dates describe. These are unverified submissions to BBB; this page draws no conclusion from the numbers and does not combine them with any other source.
ComplaintsBoard (as displayed on 2026-10-22). The page shows an "Overall reputation rating" of 2.3 and the text "12 reviews and 11 complaints", updated Aug 15, 2026, with a "Claim Your Business" button. The rating is ComplaintsBoard's own figure and the entries are user submissions we have not verified; the page includes both critical complaints and a positive review.
Other profiles checked. Trustpilot: a search for "penchecks" on 2026-10-22 returned no PenChecks company and the address trustpilot.com/review/penchecks.com returned a page-not-found message. CFPB: see the contacts section for the lookup result.
Our archive. No published complaint reports are currently linked to this profile. You can add your own experience with the write-review form on this page.
Had an experience with PenChecks Trust? Tell other people what happened.
Submit a ComplaintPenChecks Trust complaints: finding your account, contacting PenChecks and where to escalate
Why you may have an account (PenChecks Trust's own explanation, individuals page, read 2026-10-22). The page lists three reasons: "We were selected by your employer or former employer to help process a retirement plan distribution you are entitled to"; "We were appointed as custodian of an Automatic Rollover or Missing Participant IRA established in your name because your former employer was unable to reach you"; or the financial institution that previously held your account "resigned and selected PenChecks Trust to be the successor custodian".
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The FAQ adds that PenChecks Trust "does not offer investment options and most accounts held by PenChecks cannot accept contributions".
Official contacts (FAQs for individuals, read 2026-10-22).
- Phone: 1-800-541-3938. The FAQ gives Customer Experience working hours as "Mon-Fri 7am-5pm PT".
- Email: [email protected] and [email protected]; the individuals page also lists [email protected].
- Fax: 619-567-8084.
- Mail: PenChecks Trust, 8580 La Mesa Blvd, Ste 101, La Mesa, CA 91942.
- Benefit election sites: the Contact page (read 2026-10-22) says "For fastest service, go to the following secure site: mybenefitelection.com"; the FAQ names "My.Penchecks.com" and "My.benefitelection.com".
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The FAQ says that if you cannot complete the election online, you should contact PenChecks Customer Experience at 1-800-541-3938 to request paper forms; the Contact page says paper forms must be hand-signed ("electronic signatures are not accepted").
- Online request portal: the Contact page offers a request form for claiming an account, checking a payment, requesting a tax form or something else, and says "No login is required" (penchecks.my.site.com/ServicePortal/s/).
- Monthly pension payments: the FAQ says to contact the PenChecks team that handles monthly benefit payments at 1-800-541-3938 ext. 5023 or [email protected]; payment-method change requests are due "by the 15th of the previous month".
Timing (FAQs). The FAQ says that once forms are received "your distribution will process in 7-10 business days" and that a reissue "will be processed within 5 business days" after instructions are received. On deadlines it says "Generally, PenChecks is unable to extend deadlines, as they are decided upon by the Plan Sponsor or Administrator", and that if the deadline passes the plan may force the benefit out into an Automatic Rollover or Missing Participant IRA, in which case "additional fees may apply".
Disputed amounts. The FAQ says that if you believe a different amount should have been transferred, you should contact the former employer that sponsored the plan, because "PenChecks does not retain any information pre-dating the transfer of your funds to PenChecks"; it also points to unclaimedretirementbenefits.com for other retirement funds held elsewhere.
Your options for the money (individuals page). The page lists rolling the funds to an IRA at another institution, rolling them to a current employer's plan "if that plan accepts rollovers", or taking a lump-sum payment (the page notes mandatory tax withholding on a lump sum).
Fees and what staying put means (FAQs). On keeping a Missing Participant IRA, the FAQ says that you can, "though it is not advised", because there is "no diversification of investments, no contributions, and it is subject to ongoing fees". On ignoring the account: "There is no deadline to close this account, but keep in mind that the account is charged a monthly maintenance fee for every month the account remains in the Default IRA."
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The FAQ also says reissue fees may apply when a check is reissued and defines the "requestor fee" as "a fee that your plan administrator requested be deducted from your balance and remitted to them". The pages read did not state fee amounts; ask PenChecks or check your account paperwork for the figures that apply to you.
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Payments, checks and tax forms. To confirm the status of a check or request a reissue the FAQ says to contact the Customer Experience team at 1-800-541-3938 or [email protected]. It says the annual Form 5498 is the official statement for a Default IRA. Forms that require a notary do so, the FAQ says, because the plan has joint-and-survivor provisions under IRS rules.
If you cannot resolve a problem.
- The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) page (read 2026-10-22) offers a web form for retirement plan questions and the phone number (866) 444-3272.
- The South Dakota Division of Banking lists PenChecks Trust Company of America as a South Dakota-chartered public trust company (credential TC.048-2, first issued 02/22/2010; list "as of October 2026", read 2026-10-22). On its consumer page the Division says it regulates "trust companies" and that "All complaints against institutions regulated by the South Dakota Division of Banking are filed online" (dlr.sd.gov/banking/consumers/information_for_consumers.aspx).
- The CFPB accepts complaints about financial products at consumerfinance.gov. In the CFPB public complaint database, company-name lookups for "PenChecks", "PEN CHECKS", "PenChecks Trust" and "Trust Company of America" returned no match on 2026-10-22, and a full-text search for "penchecks" returned zero results; this does not show whether the Bureau accepts or has received complaints about this firm.
- BBB also accepts complaints (see the complaint record section).
Court & Public Records
Doctor Billa, LLC v. Penchecks Inc.
DismissedAllegations are not findings.
Case details: Doctor Billa, LLC v. Penchecks Inc.Show less
The Justia docket lists Penchecks Inc. (the parent company named on the PenChecks About page, not PenChecks Trust Company of America) as the defendant and shows a notice of removal filed by Penchecks Inc. on 2023-09-15. The listed cause of action is "29 U.S.C. § 1001 E.R.I.S.A."; the docket entries read do not describe the claims. On 2023-11-03 the court granted the defendant's motion to dismiss: "All claims asserted against Defendant Penchecks are dismissed without prejudice." Justia's copy was last retrieved on 2023-11-03, so any later filings are not shown.
Who operates PenChecks Trust
The PenChecks About page (read 2026-10-22) says: "PenChecks Trust is a state-chartered, non-depository trust company providing a comprehensive suite of Retirement Distribution Services to Institutions, Third Party Administrators (TPAs), Advisors and Plan Sponsors." It describes its services as benefit payment processing, automatic rollover and missing participant IRA programs, uncashed check services and QTA (abandoned plan) services, and says it combines "over 25 years of retirement benefits processing expertise" (a company statement).
The PenChecks family. The About page says the family "consists of four separate entities": PenChecks, Inc., described as the parent company; PenChecks Trust Company of America (PTCA), "a state-chartered, non-depository trust company and a wholly-owned subsidiary of PenChecks, Inc.", which "provides custody and related services for PenChecks' Automatic Rollover and Missing Participant IRAs, Qualified Termination Administrator (QTA) services for abandoned retirement plans"; PenChecks Missing Distributees, LLC (PMD), for uncashed checks and other unclaimed distributions; and The National Registry of Unclaimed Retirement Benefits (NRURB), a "public service company" for locating lost retirement benefits.
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Who the customer is. The company sells to plan sponsors, advisors, institutions and TPAs; individuals usually meet PenChecks because one of those clients chose it. The individuals page says the account may exist because an employer or former institution selected PenChecks, not because the individual did. Site: penchecks.com. Address: 8580 La Mesa Blvd, Ste 101, La Mesa, CA 91942. The South Dakota Division of Banking lists PenChecks Trust Company of America as a chartered public trust company, credential TC.048-2, first issued 02/22/2010, at 122 S. Phillips Ave, Ste 230, Sioux Falls, SD 57104 (list "as of October 2026", read 2026-10-22); the La Mesa address on this page is the one PenChecks publishes for mail.
Regulatory filing. South Dakota Division of Banking monthly activity reports for May through August 2026 list a pending application by an individual to acquire a controlling interest in PenChecks Trust Company of America. The reports available on 2026-10-22 do not show an outcome (the September and October 2026 reports were not online), and this page does not describe it as an acquisition or a completed change.
Company Relationships
- Owned byPenChecks, Inc.
- Affiliated withPenChecks Missing Distributees, LLC
- Affiliated withThe National Registry of Unclaimed Retirement Benefits
Frequently Asked Questions
Who is PenChecks Trust?
PenChecks's About page says PenChecks Trust is a state-chartered, non-depository trust company, and that PenChecks Trust Company of America (PTCA) is a wholly-owned subsidiary of PenChecks, Inc. It sells retirement distribution services to institutions, TPAs, advisors and plan sponsors.
Why does PenChecks have my retirement account or check?
The PenChecks FAQ answer lists four possible reasons: the current or previous employer contracted with PenChecks to assist in reuniting the person with retirement funds; the employer or former employer selected PenChecks to help process a retirement plan distribution; PenChecks was appointed custodian of an Automatic Rollover or Missing Participant IRA because the employer could not reach the participant; or the prior custodian resigned and chose PenChecks Trust as successor. The Individuals page lists three of these reasons.
What is the PenChecks phone number and email?
The FAQ lists 1-800-541-3938, with Customer Experience hours of Mon-Fri 7am-5pm PT, and the addresses [email protected] and [email protected]. The mailing address is PenChecks Trust, 8580 La Mesa Blvd, Ste 101, La Mesa, CA 91942.
Does a PenChecks Missing Participant IRA charge fees?
The FAQ says the Default IRA "is charged a monthly maintenance fee for every month the account remains in the Default IRA", that it is "subject to ongoing fees", and that reissue fees may apply to reissued checks. The pages read did not give amounts.
What can I do with the money PenChecks holds?
The individuals page lists a rollover to an IRA at another institution, a rollover to a current employer plan that accepts rollovers, or a lump-sum payment with mandatory tax withholding. The FAQ says PenChecks does not offer investment options.
How do I check a payment or ask for a check reissue?
The FAQ says to contact the PenChecks Customer Experience team at 1-800-541-3938 or [email protected]. It states that reissue fees may apply.
What does the BBB show for PenChecks Trust?
On 2026-10-22 the BBB profile for PenChecks Trust in La Mesa, CA displayed an A+ rating, BBB Accredited status, 144 complaints in the last 3 years, 92 in the last 12 months, and 3.47/5 from an average of 355 customer reviews. These are unverified submissions.
Where can I take a complaint I cannot resolve with PenChecks?
The U.S. Department of Labor's EBSA offers a web form and the phone number (866) 444-3272 for retirement plan questions. The South Dakota Division of Banking lists PenChecks Trust Company of America as a South Dakota-chartered public trust company (TC.048-2) and says on its consumer page that complaints against institutions it regulates are filed online (dlr.sd.gov/banking/consumers/information_for_consumers.aspx). You can also file with BBB.
Are there lawsuits or regulator actions against PenChecks Trust?
A Justia federal docket party search for "PenChecks" on 2026-10-22 returned one case: Doctor Billa, LLC v. Penchecks Inc., S.D. Cal. 3:2023cv01717, removed to federal court on 2023-09-15; on 2023-11-03 the court granted the defendant's motion to dismiss and dismissed the claims against Penchecks Inc. without prejudice (Justia's copy was last retrieved 2023-11-03, so later filings are not shown). South Dakota Division of Banking activity reports for May through August 2026 list a pending application by an individual to acquire a controlling interest in PenChecks Trust Company of America; no outcome was shown.