1031 Qualified Intermediary Services
1031 Exchanges are used to defer taxes when selling and buying like-kind properties. After selling the property, funds must be held by a "Qualified Intermediary." Pinnacle Bank will hold your proceeds in an interest bearing Money Market account, with FDIC coverage available beyond the $100,000 standard. If the IRS guidelines for 1031 exchanges are followed, then the seller can defer all capital gains taxes resulting from the sale of their property.
(Nothing contained herein is given or intended to be interpreted as tax or legal advice. Please contact your tax and legal advisor before proceeding with any 1031 exchanges.)
Reduce trips to the bank and obtain credit for your deposit sooner with Direct Deposit from your employer, social security, retirement, investments, or other routine deposit sources. This electronic deposit may be made directly into your checking, money market or savings account. You may track your deposits with your monthly statement, NetTeller or by calling the bank.
Safe Deposit Boxes
A safe deposit box provides protected, fireproof storage for the safekeeping of valuable documents, records and items.
- May be owned individually or jointly
- Sizes vary by office
- Various sizes available:
- 3 x 5
- 5 x 5
- 3 x 10
- 5 x 10
- 10 x 10
- Annual payment can be conveniently drafted from any deposit account
Use your Pinnacle Bank MasterMoney® card as an ATM card. Transactions at all Pinnacle Bank ATMs are FREE. You may withdraw cash, check your balance, and transfer funds between accounts.