Menu

Updated

Rollover: Can I consolidate a number of old 401k, 403b or TSP Rollover accounts into one?

You are welcome to consolidate multiple 401(k)s from previous employers into a single IRA account at Wealthfront. We wish we could handle the 401(k) rollover process just like we can a normal brokerage account transfer, but 401(k) rollovers are a bit different. Your former employer has an exclusive relationship with your 401(k) administrator so the administrator will need to hear from you directly. If you have an IRA account open and funded with us already, you can use the rollover steps below to consolidate your 401(k) into your existing IRA account. If you do not have an IRA account open with us yet, during the account opening signup flow you can select “rollover a 401(k)” and then “IRA” for the account type. For the rollover process itself, the vast majority of 401(k) providers will liquidate your account and send a check per your instructions.

Please note that some 401(k)s contain both a traditional (pre-tax) component and Roth (post-tax) portion. If this is the case, you will need to open both a traditional IRA and a Roth IRA using our website by clicking the “open a new account” link on your Wealthfront dashboard once you have one of the accounts open. The traditional component of your 401(k) should be rolled over to your traditional IRA account and the Roth component of your 401(k) should be rolled over to your Roth IRA account. In both cases your account must meet our $500 minimum.

When you call or email the 401(k) administrator to request a rollover, they will ask you how you want the rollover check made payable and where you want it sent.

Check Instructions:

The check should be made payable to "Wealthfront Brokerage Corporation" and should reference your name and your Wealthfront IRA account number. The check should be sent to:

Wealthfront Brokerage Corporation
PO Box 398773
San Francisco, CA 94139


Important: You must include your name and Wealthfront IRA account number in the Memo/Note line 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).

If you are opening a new IRA account with us for your 401K rollover, our website will provide the above rollover instructions as well.

 

Was this article helpful?

Nothing in this blog should be construed as tax advice, a solicitation or offer, or recommendation, to buy or sell any security. Financial advisory services are only provided to investors who become Wealthfront Inc. clients pursuant to a written agreement, which investors are urged to read carefully, that is available at www.wealthfront.com. All securities involve risk and may result in some loss. For more information please visit www.wealthfront.com or see our Full Disclosure. While the data Wealthfront uses from third parties is believed to be reliable, Wealthfront does not guarantee the accuracy of the information.

This article is not intended as tax advice, and Wealthfront does not represent in any manner that the outcomes described herein will result in any particular tax consequence. Prospective investors should confer with their personal tax advisors regarding the tax consequences based on their particular circumstances. Wealthfront assumes no responsibility for the tax consequences to any investor of any transaction. 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.