As you know, the safety of our staff and clients is of the utmost importance to us. We have been closely monitoring updates on the Coronavirus to continue making informed decisions. As the situation continues to evolve, we will provide updates on any important changes.Quest Trust Company's Response
Quest Trust Company is committed to our clients and we have operational plans in place for these types of circumstances to continue to provide the best level of service.
Clients are able to either drop-off or pick-up documents from our staff in one of the following three ways:
- Communicate electronically with our staff in the event that a document may be able to be provided to you or received from you online.
- Mail documents to our Houston Office using the address below, or request that our staff mail a document to your address listed on file.
17171 Park Row, Suite 100
Houston, TX 77084
- Schedule an appointment to come to our Houston, Austin or Dallas office to pick-up documents. If you choose this option, please locate the ring doorbell outside of our office to communicate with our Front Desk Receptionist. You will be directed to a drop box within the building to either pick-up or drop-off your document, while still maintaining social distance. In an effort to help keep our staff and customers safe, face masks must be worn to enter the Quest offices.
At Quest Trust Company, we are still operational and ready to meet your client needs. Our Houston, Dallas and Austin offices are now open to the public for document drop off or pick-up. Please refer to the section above to schedule an appointment or call us at 855.386.4727.
We have moved all of our weekly classes and Trillion Dollar Investment Mixers online, where you can still learn and engage in live time with our speakers. Check out our upcoming events HERE
The CARES Act (Coronavirus Aid, Relief and Economic Security Act) was signed into law in late March 2020. This legislation is designed to provide relief to both individuals and businesses due to the Coronavirus. Additionally, there are special provisions relating to retirement accounts that you may be able to take advantage of if you have been affected by COVID-19.
CARES Act Retirement Account Related Provisions:
- Hardship Distribution
Retirement account holders are able to take a hardship distribution of up to $100,000, additionally waiving the 10% early withdrawal penalty. While the distribution is still taxable, the amount can be repaid into the account over three years.
- 401(k) Loans Increased
Loans from 401(k)s were permissible prior to the legislation passing, however the limit was increased to a maximum of the lesser of $100,000 or 100% of the account. Previously, the limit was the lesser of $50,000 or 50% of the account.
- Required Minimum Distributions Suspended
RMDs for 2020 are suspended for individuals required to take distributions from their IRAs or 401(k)s. For individuals who already took their RMD for 2020, they may rollover the amount into an IRA.High Deductible Health Plans Can Cover Coronavirus Costs.
- High Deductible Health Plans Can Cover Coronavirus Costs.
The Internal Revenue Service today advised that high-deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment, without jeopardizing their status. This also means that an individual with a high deductible health plan that covers these costs may continue to contribute to a Health Savings Account (HSA).
The IRS has recently announced the Tax Filing Deadline will be extended to July 15, 2020, three months after the normal deadline, due to COVID-19.
This will not only allow for additional time for individuals and businesses to file their returns, but also extends the chance for current IRA holders to make contributions for the 2019 tax year, if you have not done so already.
“…Thank your for your email this morning and thank you for all of your help and guidance throughout the process of closing out this project. It was not an easy project on our side and I don’t know if it would have worked out in a positive way without your help and the help from the rest of the team at Quest. It was amazing how well your company functioned on my behalf knowing all the while most of you were dealing with a lot of additional stresses and changes. It truly was amazing. I look forward to our next opportunity to work together.”
I want to thank Quest for the jump start on showing me how to make my investments work for me and the adversity of investments. During this time I have been able to get in contact and have my questions answered by a Quest representative right away. It’s great to tune into the live casts and keep learning and growing with my investments. Thank You.
By having our IRA at Quest we have the opportunity to invest in real estate; therefore we didn’t lose in the stock market and still make 14% on our IRA loans. Thank you Quest!
Thank you, for taking my calls and answering my questions. I would just like to say I really like doing business with Quest Trust Company. I would just like to say other companies may be bigger, but your company is better. I just want you to know that you people at Quest are doing it right by talking to your clients. I will tell my friends about how well I am treated by the staff at Quest.
Over the last 15 years I’ve used Quest Trust Company to invest in closely held stock, private equity real estate partnerships and in direct real estate. Everyone there has always been friendly, helpful and genuinely interested in seeing my retirement funds grow. For anyone interested in using their IRA to invest in non-traditional opportunities, I’d certainly recommend Quest Trust.
If you have any questions regarding our COVID-19 procedures, please do not hesitate to contact us at email@example.com