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Overview

Overview

BPAS Trust Company of Puerto Rico provides independent Puerto Rico Trustee and comprehensive Plan Administration Services. Located in San Juan, Puerto Rico, we are regulated by the Commissioner of Financial Institutions. Our business model offers simplicity and accountability while protecting retirement plan assets. BPAS is here to help you build and maintain a retirement plan that is right for your employees.

We can provide services as a bundled part of the BPAS daily valuation program or as a stand-alone Directed Trustee to assist other Plan Sponsors.

We are here to protect your retirement plan assets.

Key Features

  • Trustee and Custodian services
  • Fiduciary services
  • Recordkeeping services
  • In-person enrollment & education meetings
  • Local presence and support
  • Pay-agent services for distributions & loans
  • Tax reporting to Hacienda
  • Bilingual call center
  • Spanish & English sponsor and participant websites
  • Plan document & notice services
  • Sponsor support by a dedicated Plan Consultant
  • Annual compliance testing, Form 5500 preparation & Reporting
  • Audit assistance and support
  • Form SC 6042 reporting
  • Assistance with required corrections
  • Employer contribution calculations
  • Examined by PR Office of Financial Institutions, OCC, IRS, DOL, SEC, Texas Dept. of Banking & internal and external auditors
  • Partnership with local Financial Advisors
  • Fully transparent fees

Designed For

Our Services are designed specifically for retirement plan sponsors in Puerto Rico, whose plans are qualified under the Puerto Rico Internal Revenue Code of 2011. Our team has vast experience in administering and servicing Puerto Rico plans. We provide comprehensive plan services under one roof, which results in accountability and a retirement plan that provides your employees the ability to achieve a financially secure retirement while streamlining plan administration for the employer.

Additional Reading

As a recognized leader in retirement plan administration across Puerto Rico, we can help build a plan that’s right for you:

Directed Trustee Services: At BPAS, we understand the importance of providing independent Trustee and comprehensive plan administration services. We are here to protect your retirement plan assets. We can provide services as a bundled part of the BPAS daily valuation program or as a stand-alone Directed Trustee to assist other Plan Sponsors.

PR 1081 Keoghs: If you’re an unincorporated business owner (Keogh-eligible) and want to defer earned income and qualify for reduced capital gains tax rates at distribution, a Keogh (under PR IRC 1081) could be right for you. It’s the perfect solution for attorneys, independent physicians, real estate agents, architects, engineers, and consultants.

Our industry-leading technology and partner collaboration will help you achieve success. We know the regulations. In fact, we’re the company plan sponsors turn to when it comes to Keogh compliance.

ERISA 3(38) Services for 1081 Plans: Today’s regulatory environment and compliance challenges make fiduciary oversight more important than ever. Plan Sponsors can be held personally liable for losses caused by decisions or actions as a fiduciary. Our comprehensive fiduciary protection solution delivers services from a single provider, customized to meet every client’s unique needs.

Cash Balance Plans: The perfect solution for employers who maximize contributions under an existing defined contribution plan and would like to contribute more.

Collective Investment Funds: BPAS Trust Company of Puerto Rico offers collective investment funds for qualified PR retirement plans. The PR Capital Preservation Fund is a qualified PR security that affords Act 106 and PR Code 1081 participants with the opportunity to realize certain tax benefits upon distribution of funds from their accounts.

Next Steps

Want to learn more?
Contact Alfredo Matheu at [email protected] or call (787) 910-3466.