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401k Rollovers

Here's a common question..."I'm rolling over my 401k or 403b plan to my personal IRA, will I receive the check?"

Yes, many plans will send the check directly to you..the check is made payable to your custodian and you'll forward to your broker or advisor.  It's a good idea to write your IRA account number in the memo box of the check and then forward to your advisor.  many IRA accounts can do direct transfers to your advisor, however your 401k employer plan will generally have to send the check to you.

Even if the check comes to you, it's still a direct rollover.

Posted on Thursday, July 31 by Registered CommenterWise Owl | Comments Off