How To Arrange A Rollover or Transfer

First of all, if the money is in another employer's 401(k) plan or another type of retirement plan, call that company's Human Resources Department and tell them you want to accomplish a transfer to your current employer's plan. They should send you a set of forms to fill out. Ask the employer if they provide some sort of a statement or a form confirming this money is from a plan that is intended to be a "qualified plan." Most receiving plans want such a statement and it is a required part of our procedure.

If they do not have such a form, you should send them a copy of the attached forms designed for that purpose when you return their distribution/rollover paperwork to them. 

Please note: You cannot transfer money from a Tax Sheltered Annuity or 403(b) Plan or from a personal IRA or from an IRA where you have combined money rolled over from a qualified plan with your personal IRA account. You also cannot transfer a Roth IRA account or an IRA set-up as part of an SEP plan or an IRA account where you did not take a deduction at the time of deposit. You cannot transfer personal investments accounts of the taxable nature. 

If you do have an IRA Rollover Account that has not been combined with personal IRA money, that IRA Rollover account can be transferred into your retirement plan account. 

When you are completing the distributions forms from the other employer's plan or from the IRA custodian, there will be a section where you specify how you want the check made out and where you want it sent. 

Please note: Indicate that the check should be made out to the new plan Trustee and the new plan Case Number. Your HR director has this information. They should also indicate on the check that it is for the benefit of ("FBO") and then your name and your Social Security Number and the name of the Plan you are now in. 

Have the check mailed to your home address but make sure it is not made out to you personally. By having the check mailed to you from the other plan or from the financial institution, you have knowledge that it has actually been handled. By giving the check to your current employer for forwarding, they also have a chance to acknowledge the rollover. By having the check sent to you, you can control the whole process and make sure the money is properly identified when it arrives at the office of the 401k administrators. You will also be in a position to know approximately when the money should be deposited into your account. This procedure described above minimizes the chance for any errors.