Old 401K Plan Rollovers

You can transfer your inactive employer sponsored plans (e.g. 401k, 403b, 457b) to an IRA (or Roth IRA) at MYRA (custodian: TD Ameritrade).

This process is referred to as a 'direct rollover', and it may be initiated by calling your inactive plan providers (e.g. Fidelity, e*Trade, Vanguard). Let's take the example of a 401k plan. Note: follow the same process for a 403b or 457 plan.

Step 1: Call your previous employer’s 401K plan providers (e.g. Fidelity)

Step 2: Tell the 401K plan providers that you are rolling over the money into a Trad IRA (or Roth IRA) at TD Ameritrade Institutional

Step 3: Ask them to initiate a "Direct Rollover" for the entire amount. Be sure to request for a “Direct Rollover” - which is a tax-free distribution to you from one retirement plan that you contribute to another retirement plan.

Step 4: The 401K providers will send you a check for each type of 401K plan. E.g. if you had only a Traditional 401K plan, you will receive 1 check. If you had both a Traditional 401K and a Roth 401K plan, you will receive 2 checks.

Step 5: The check(s) should be made out in the name of "TD Ameritrade Institutional - Traditional IRA - FBO: Your Name" or "TD Ameritrade Institutional - Roth IRA - FBO: Your Name"; where the FBO stands for "For Benefit Of"

Step 6: These check(s) will be physically mailed out to your home address on-file with the 401K plan provider, and will typically reach your home in about 5-7 business days.

Step 7: Once you receive the check(s), please write your TDA Traditional IRA (or Roth IRA) Account number(s) in the Memo line of the check(s)

Step 8: Download TD Ameritrade’s “AdvisorClient” App from the App Store (Apple, Google) and online deposit the check(s), or head over to the nearest TD Ameritrade branch, and deposit your check(s) in your respective Traditional IRA (or Roth IRA) accounts.