How to Move My 401(k) to an IRA at Retirement
- 1). Find a copy of your latest 401k statement to get an idea of how much is in the account. Check your account online for an up to date balance.
- 2). Contact the administrator of your 401k plan. The name of the 401k administrator is listed on your statement. Inform the administrator that you are retiring and you wish to roll your funds over to an IRA.
- 3). Call the company you want to administer your IRA account. If you already have an IRA, you can roll the funds over into that same account. Otherwise contact a brokerage firm, bank or mutual fund company to open an account.
- 4). Obtain an account transfer form from the administrator of the IRA. Depending on the account you may be able to complete the transfer form online. Otherwise wait for the paper form to arrive.
- 5). Complete the transfer form, including your name, address, Social Security number and the account numbers of your 401k plan and IRA. Make copies of the transfer form and mail it to the address listed on the form.
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