How To Rollover My Retirement Account (IRA, 401k, 403b, Pension, Annuity, etc.) + FAQs How To Rollover My Retirement Account (IRA, 401k, 403b, Pension, Annuity, etc.) + FAQs

How To Rollover My Retirement Account (IRA, 401k, 403b, Pension, Annuity, etc.) + FAQs

Diego Chavez Diego Chavez

The following steps will guide you through initiating a rollover.

1. From your iTrust dashboard, select "Contribute" under US Dollar section. 

 

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2. From the dropdown menu, select "Employer Plan Rollover"

 

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3. A form will appear for you to you complete. After completing select "Done"

 

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4. After completing your forms accurately, our client success team will reach out with further instructions. 

 

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Rollover FAQs

How long will my Rollover / Transfer take? And how can I speed it up?

Employer Plan Rollovers take an average 2-4 weeks. To rollover an employer plan (401k, 403b, TSP, 457, etc.), a client will contact the plan administrator to initiate the rollover with the instructions we provide. We provide both bank wire instructions and check mailing instructions. Unfortunately, most plan administrators only mail physical checks and will not send wires for rollovers. These checks are usually sent via regular mail. Combine a long processing period with regular mail, and a rollover can take up to a month to fund.

 

My rollover check is made Payable To iTrustCapital, is that ok?

No, all checks must be made payable to iTrust Custodial Services as our email instructs.

 
 

Do I endorse a rollover check sent to me?

Do not endorse the rollover checks received. Mail the check as is to the address provided in our funding email. 

 

Common Issues & Helpful Tips 

Rollover Tips:  

When contacting the plan administrator, here are some questions to ask:  

    1. What day is the check going to be sent? Or was sent?
    2. What method was the check sent?
    3. If it has not been mailed yet, can I pay to have it expedited?
    4. If so, what is the tracking number?
    5. If mailed regular mail, the average time for delivery is 7-10 business day
Common Issues:

When you reach out to initiate the rollover with your new custodian, they may ask you to complete a rollover request form that they will provide to you. This will need to be filled out and sent back to your custodian indicating this is a direct rollover, trustee-to-trustee. To complete this form you will need the funding instructions we provided to properly fill out the new custodian section. These instructions will also include both bank wire instructions and check mailing instructions. For the vast majority, most previous employer plans will only mail physical checks and usually are sent to clients requesting the rollover, not directly to iTrustCaptial. If not requested otherwise, custodians will send checks by standard mail with no tracking information and can take some time to be received. In the event that a check has first been sent to the client, please forward that check along to the mailing address indicated on the funding instructions. Rollovers are usually slower to fund than transfers or cash contributions and clients should be prepared for the process to take up to a month to complete.

 

Clients often contact us to get an update of where their check is. Unfortunately, we have no way to assist. We, like our clients, are at the mercy of the plan administrator and USPS. 

 

Once we receive your rollover check, the funds will begin the 3 business day clearing process with our bank and our team will reach out to you indicating the release date.