In October 2018, OppenheimerFunds and Invesco, a premier investment management firm, announced that they will be joining forces. The closing of the Invesco-OppenheimerFunds transaction (the “Transfer Date”) is anticipated in mid-2019, subject to regulatory and shareholder approvals and other customary closing conditions. Should the requisite approval be obtained allowing the Invesco-OppenheimerFunds transaction to close, the OppenheimerFunds retirement programs will transition to the Invesco platform, and the provider of your clients’ retirement accounts will change.

To facilitate the transition, impacted retirement shareholders and plan sponsor clients will be informed of the changes which will be effective upon the Transfer Date. Clients are encouraged to carefully review the updated documents they receive and to keep them with their records. These updated documents will replace their existing OppenheimerFunds documents, and will govern their retirement plan or account effective upon the Transfer Date.

The OppenheimerFunds annual account maintenance fee(s) for 2019 were deducted from clients’ accounts in January 2019. They will not be assessed another annual maintenance fee by Invesco until January 2020.

Please refer to the grid for a summary and copies of the shareholder and plan sponsor communications. Please be sure to monitor this webpage periodically for updates.

For a list of frequently asked questions, please click here and for information about Portfolio Builder click here.

OFI-Invesco Transition Communications Overview for Retirement Plans and Accounts
Please work with your clients to ensure they take any necessary action as noted below.

Retirement Program1

Mailing to OFI Shareholders

Mailing to Plan Sponsors

Call to Action

Mail Date

Traditional IRA

  • OFI Notice to Shareholders
  • Invesco Traditional IRA Custodial Agreement & Disclosure Statement
  • OFI Notice to Payroll Deduct IRA Plan Sponsors

None

2/22/2019

Roth IRA

  • OFI Notice to Shareholders
  • Invesco Roth Custodial Agreement & Disclosure Statement
  • OFI Notice to Payroll Deduct IRA Plan Sponsors

None

2/22/2019

SIMPLE IRA

  • OFI Notice to Shareholders
  • Invesco SIMPLE IRA Custodial Agreement & Disclosure Statement
  • OFI Notice to SIMPLE IRA Plan Sponsors

None

2/22/2019

SEP IRA

  • OFI Notice to Shareholders
  • Invesco Traditional IRA Custodial Agreement & SEP/SARSEP Disclosure Statement
  • OFI Notice to SEP/SARSEP IRA Plan Sponsors
  • Invesco SEP Adoption Agreement, Plan Document and IRS Opinion Letter

Plan Sponsor to complete the SEP Adoption Agreement and provide copies of plan documents to their participants.

2/22/2019

SARSEP IRA

  • OFI Notice to Shareholders
  • Invesco Traditional IRA Custodial Agreement & SEP/SARSEP Disclosure Statement
  • OFI Notice to SEP/SARSEP IRA Plan Sponsors
  • Invesco SARSEP Adoption Agreement, Plan Document and IRS Opinion Letter

Plan Sponsor to complete the SARSEP Adoption Agreement and provide copies of plan documents to their participants.

2/22/2019

Coverdell Education Savings Account

  • OFI Notice to Shareholders
  • Invesco Coverdell Custodial Agreement and Disclosure Statement
  • N/A

None

2/22/2019

403(b) Plans

  • OFI Notice to Shareholders
  • Invesco Amendment to OFI Custodial Agreement
  • OFI Notice to 403(b) Plan Sponsors2

 

None

3/13/2019

Single K Plans

  • N/A
  • OFI Notice to Single K Plan Sponsors

None

3/25/2019

Profit Sharing Plans

  • N/A
  • OFI Notice to Trusted and Non-Trusted Profit Sharing Plan Sponsors

None

3/25/2019

1 Includes Portfolio Builder Accounts

2 Impacted 403(b) TPAs will also be notified.