Rollover FAQs Rollover FAQs

Rollover FAQs

Contributor Contributor

What is a Rollover?

A Rollover is a movement of funds from an Employer-Sponsored Retirement Plan (401(k), Roth 401(k), 403(b), 457(b), etc.) to an Individual Retirement Account or "IRA". There may be restrictions when an Employer-Sponsored Plan can be rolled over. It may vary depending on the plan, but generally, one must reach the age of 59 1/2 or no longer be employed by one's previous employer. Please speak with a plan administrator about how to proceed.

 

How do I start my Rollover process?

To initiate a Rollover on your iTrustCapital dashboard, please click here to view a walkthrough of the procedures. It is highly recommended to reach out to your previous plan administrator as soon as possible, after creating a Rollover request on the iTrustCapital platform, to get the process started.

 

How long will my Rollover take? 

The Rollover process can take up to 3-4 weeks. It is recommended to reach out to your previous plan administrator as soon as possible to initiate the Rollover. Please note that checks sent by your previous custodian may take 7-10 business days to arrive. 

 

What address should I send my rollover check to?

Your Rollover check(s) should be mailed to: 65 S. Pine Avenue, Suite #22; Long Beach, CA 90802. However, please make sure that any request to send funds to your account first be submitted using the "Add Funds" button found on your dashboard - failing to do so may result in a delay in funding your account. 

 

Who do I make the check payable to?

As our email instructs, all checks must be made payable to iTrust Custodial Services.

 

Can I rollover a pre-taxed Employer-Sponsored Retirement Plan into a Roth IRA?

Yes, you may be eligible to roll over your pretax Employer Plan (401(k) 403(b), 457(b), etc.) into a Roth IRA. This is a Roth conversion, which may be a taxable event.*

For more information on Roth Conversions, click here.

 

Is there a limit to how much I can Rollover?

There is a required minimum of $1,000 that you must Rollover, but there is no maximum. 

 

Is there a limit to how many times I can Rollover?

Here at iTrustCapital we do not limit how many Rollovers you can initiate, but it is recommended to reach out to your previous plan administrator to see if they have limitations on their Rollover process. As for 60-day Rollovers, the IRS implemented a one-per-year limit.

For more information, feel free to visit the IRS website.

 

What is a 60-day Rollover?

A 60-day Rollover is when a distribution is paid directly to you from your Employer-Sponsored Retirement Plan. You are required to move those funds into an IRA within 60 days, or you may receive a tax* penalty. You can request an extension or even waive your 60-day Rollover. 

For more information, please refer to the IRS website.

 

Can I Rollover my TSP plan?

Yes, you may be eligible to Rollover your Thrift Savings Plan to iTrustCapital. Please click here and follow the steps on how you can proceed with rolling over your TSP.

 

 

** Some taxes and conditions may apply. iTrustCapital, Inc. does not provide legal, investment, or tax advice. We recommend seeking the advice of a qualified legal, investment, or tax professional.

 

Was this article helpful?

0 out of 0 found this helpful

Articles in this section