Updated
Rollover: Can I roll over a 401k, 403b or TSP into an IRA?
Yes! You may roll over a 401(k), 403(b), 457, TSP, or other employer-sponsored retirement plan into an IRA at Wealthfront.
Note: Rollovers are typically from former employers. You cannot roll over your account if it's in a plan that is sponsored by a current employer, unless your plan administrator allows "in-service" rollovers. Click here for more information about in-service rollovers.
To get started with your rollover, please follow these instructions:
1) If you are already a Wealthfront client, simply click "Transfer money" then "Bring over investments" we'll walk you through the process.
Note: if you have a Traditional 401k, you need a Traditional IRA here at Wealthfront (this is the most common). If you have a Roth 401k, you need a Roth IRA at Wealthfront (less common). Not sure if you have the right IRA? Learn more here.
2) If you aren't already a client, simply click "Get started" on www.wealthfront.com. Click "Invest in an automated index portfolio" then "Retirement". Finally, click "Roll over a 401k to an IRA" and follow the prompts.
3) Once your IRA account is open, you should contact your retirement plan provider and instruct them to send a check for the entire value of your plan. Note: Some administrators may allow you to send funds via wire transfer. See wire instructions below.
Check Instructions:
The check should be made payable to "Wealthfront Brokerage LLC" and should reference your name and your Wealthfront IRA account number. The check should be sent to:
For overnight mail, please send to:
Important: You must include your name and Wealthfront IRA account number in the Memo/Note line of the check so we know which account to fund.
(You can view your account number by clicking on your name, then "Settings" and then the title of your account in the menu on the left).
What do I do if my IRA or 401k administrator didn’t write my Wealthfront brokerage account number on my distribution check?
Wire Instructions:
Please find wire instructions for your account here: Wire instructions
Note: We do not currently accept foreign wire transfers.
Although the rollover is not a taxable event, your retirement plan provider will issue you a 1099.
This communication has been prepared solely for informational purposes only. Nothing in this communication should be construed as an offer, recommendation, or solicitation to buy or sell any security or a financial product. Any links provided to other server sites are offered as a matter of convenience and are not intended to imply that Wealthfront or its affiliates endorses, sponsors, promotes and/or is affiliated with the owners of or participants in those sites, or endorses any information contained on those sites, unless expressly stated otherwise.
Wealthfront offers a free software-based financial advice engine that delivers automated financial planning tools to help users achieve better outcomes. Investment management and advisory services are provided by Wealthfront Advisers LLC, an SEC registered investment adviser, and brokerage related products are provided by Wealthfront Brokerage LLC, a member of FINRA/SIPC.
Wealthfront, Wealthfront Advisers and Wealthfront Brokerage are wholly owned subsidiaries of Wealthfront Corporation.
© 2020 Wealthfront Corporation. All rights reserved.
Wealthfront prepared this article for informational purposes and is not intended as tax advice nor as an offer, recommendation, or solicitation to buy or sell any security. Wealthfront does not represent that any strategy will result in any of the outcomes described, including the effectiveness of any strategy in reducing tax liability, as this depends on an investor’s specific tax and investment profile. Investors are encouraged to consult their personal tax advisors regarding their unique circumstances and any outcomes/consequences that may result from any investment strategy. Investors and their personal tax advisors are responsible for how the transactions in an account are reported to the IRS or any other taxing authority.
Wealthfront and its affiliates may rely on information from various sources we believe to be reliable (including clients and other third parties), but cannot guarantee its accuracy or completeness. See our Full Disclosure for more important information. Financial advisory and planning services are only provided to investors who become clients by way of a written agreement. All investing involves risk, including the possible loss of money you invest. Past performance does not guarantee future performance.
Financial advisory, planning, and investment management services are offered by Wealthfront Inc. (“Wealthfront”), an SEC registered investment adviser. Brokerage products and services offered by Wealthfront Brokerage Corporation, member FINRA / SIPC, and a wholly-owned subsidiary of Wealthfront.
Comments are moderated prior to publication