By close of business, update BIC codes to Principal® Custody Solutions BBHCUS3IPTS.
Begin using the Principal® Custody Solutions delivery instructions for activity.
Free receives sent to Wells Fargo IRT on or after Feb. 22 will be returned to the sender for delivery to Principal® Custody Solutions.
Begin using the Principal® Custody Solutions faxes and email addresses. (Watch for an email for these details and updated trade forms.)
Begin using the SPTC wire instructions for anything with a settlement date on or after Feb. 22.
For already executed trades, beginning with a trade settlement date of Feb. 22, begin using the Principal® Custody Solutions settlement instructions.
Buys sent to Wells Fargo IRT with a settlement date on or after Feb. 22 will be returned to the sender for delivery to Principal® Custody Solutions.
Depository assets (DTC/Fed) to Principal Bank®.
Assets physically held in the vault will be moved and re-registered (if required).
Re-registration acknowledgment letter on assets registered under the owner’s name will need to be signed.
All assets held at transfer agent (Direct Registration) will be re-registered (if required).
Notices sent by Wells Fargo with an expiration date after Feb. 18, but on or prior to Feb. 25, won’t be resent. Elections for these events should be sent to Principal® Custody Solutions at corpactresponses@principal.com.
Notices sent by Wells Fargo with an expiration date after Feb. 25 will be resent.
The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, investment advice or tax advice. You should consult with appropriate counsel or other professionals on all matters pertaining to legal, tax, investment or accounting obligations and requirements.
Information provided is solely for illustrative purposes only and the actual terms of the services are governed by the organization’s applicable service agreement(s).
Principal Financial Group closed the acquisition of certain assets of the Wells Fargo Institutional Retirement and Trust business (IRT) on July 1, 2019. During the transition period, Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company, will continue to operate and service the IRT business for the benefit of Principal®, including providing recordkeeping, trustee, and/or custody services.
Wells Fargo has not reviewed the content of the attached material and makes no judgment of its accuracy.
Investment and Insurance products are:
1859445-102021 | 02/2022