Our process is formulated so that each document that is completed and returned to the company will result in a payment of between $200 to $500 to the child. Payment amount for each document will be determined by the child/family at the time the document is submitted.
The number of documents needed to be completed are in relation to the amount of the initial and/or subsequent funding contributions as well as the payment amount requested by the child/family for each document submitted. For example, a funding contribution of $2500 will result in between 5 to 13 documents to be completed, determined by the payment amount requested by the child/parent for each form, i.e., the higher the amount requested, the fewer forms to be submitted.
There is no set time frame for completing each document. The child/family is free to set their own time frame to complete and submit each document.
Each of the documents sent to your child is designed to be age appropriate so while we encourage each child to complete them on their own it is not an issue if an adult contributes to the process. The child/family is free to determine their own preferred method for completing each document.
Your child can expect to receive their payment for the successful submission of each document within a 14 day period.
We continue to mail paper checks to the address we have on file as that results in the most positive reinforcement for the child to continue to complete the additional documents but also offer electronic transfers, too.
An independent contractor is a person contracted to perform a service to another business entity as a non-employee. Independent contractors can be liable for paying their own Social Security and Medicare taxes depending on their level of income.
Remington Regent clearly considers each person submitting documents as an independent contractor. Each person is free to set their own schedule, determine their own fees/document and is able to work for other entities as they choose.
As an independent contractor, your child is not entitled to any benefits from Remington Regent.
Submitting the forms to Remington Regent is generally considered a short term assignment for each calendar year however you are able to consider re-enrolling for subsequent years if desired.
As an independent contractor, no taxes are taken out of each remittance. At the completion of each calendar year, the child will receive a 1099 form indicating payments made to the child.
All decisions pertaining to investments are solely determined by the child’s family. Remington Regent provides payments for work submitted but all actions regarding choice of investment companies as well as actual investments are outside the scope of Remington Regent. Families are encouraged to consult their tax adviser or accountant in assistance is needed in making appropriate investment choices for the subject child. Remington Regent does not offer investment advise nor recommendations.