How to 401k Rollover Direct
- 1). Open a new account for your 401k money. The account can be an individual retirement arrangement or a 401k with a new employer.
- 2). Obtain a rollover request form from your existing -- old -- 401k plan administrator.
- 3). Complete the rollover request form with the new account information, and return the form to your existing 401k administrator. The two firms will complete the transfer of your 401k assets.
- 4). Monitor the value of your new retirement plan account until the assets from the 401k have been transferred. A 401k direct rollover is a cash transfer, so you will need to make the mutual fund or other investments in the new account after the money is deposited.
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