By Lisa J., IRA Account Supervisor and Guest Blogger
Since starting in the Scottrade IRA department eight years ago, I can say one of the most common questions we receive is, “How do I roll over funds to an IRA?” If you have that same question, here are some steps to help.
- Contact your plan administrator or financial institution where you currently have your retirement account. Let them know you want to roll over your qualified plan. You will want to ask them what paperwork will be required, along with what fees or penalties may be charged.
- Open your Scottrade IRA account. This can be done at your Scottrade branch or online. You will want to have an IRA account established first, so when the funds are requested to be rolled over they go directly to that new account.
- Complete and submit the required rollover paperwork from your plan administrator or financial institution. Be aware, some rollover paperwork requires you to include your new IRA account information or a fund acceptance letter from Scottrade. If you find the required rollover paperwork confusing, you’re welcome to bring the paperwork to a local Scottrade branch or call our National Service Center at 1-800-619-7283. We will work with you one-on-one to answer your questions and help you complete the rollover paperwork. You don’t want to have any errors or miss checking an important box because it could delay getting the funds rolled over to your new IRA.
- Sign and submit all forms to your plan administrator or financial institution and Scottrade.
With the right help from Scottrade, your rollover will be an easy process and one that will put you in control of your investments.
What would you like to learn about rolling over an IRA?
Also of Interest:
Lisa J., started in the Scottrade IRA department in October 2004. She handles IRA rollovers, distributions and answering client IRA questions.
Scottrade does not provide tax advice.This material is for informational purposes only. Please consult your tax or legal advisor for questions concerning your personal tax or financial situation.
When doing a rollover IRA from a pension fund managed by fidelity, how should the check be made out to do a direct rollover?
Thanks
I would like to roll over just half of my 401k, (about 200K) can I still take advantage of your cash offer of $600.00 or does it have to be my complete 401k. (all or none) If I can do just half how do I do that?
We are 78 & 75 year old retirees having IRA account with a mutual fund company and a brokerage firm. We are thinking of rolling over to Scot Trade and do investing ourselves. The amounts in aggregate are in ( thousands) 293 myself, 73 (Vimala), 64 (Roth IRA myself) and 17 (Roth IRA Vimala).
In addition I have about 7.5 with Scot Trade in IRA and Vimala a little over 2 (also in thousands).
Our question is if we roll over before April 15, shall we qualify for your roll over bonus for each of four accounts mentioned above as per your rules. We wish to make asset transfer and then make reinvestment after studying various stocks. Our aim is to invest in upto 50 different high quality stocks giving 3% to 6% dividend, having earnings per share that are a multiple of dividend rate and appear stable in value and high ratings. We are not interested in speculating, but will try to be little more active in watching the stocks and reinvest them as necessary as per our best judgment..
Since we are already small IRA account holders with Scot Trade shall we qualify for roll over bonus? and if so for which of our accounts?
Thanks for responding promptly.
Dinkar Koppikar
I'm happy with my retirement account where it is, but I have a Roth IRA with another institution. The mutual funds within the IRA are Fidelity Advisor, so there are fees involved even though I'm not getting any advice. Can I bring that Roth IRA into Scottrade, transfer the funds to the non-advisor equivalents, and self manage that IRA? Thanks. - Scott
I already rolled my IRA to another investment firm. Will I receive the incentive if I transfer to Scottrade?
I have an IRA with Scottrade. I also have an IRA with Credit Suisse. Does this offer work if I open a second IRA with Scott Trade?
I have had an IRA account with Scottrade for many years. Two years ago I rolled over my employment retirement account to an IRA with another company. I am not satisfied with their service, Can I roll that IRA account over to my current Scottrade IRA or will I need to open a separate and new IRA account with Scottrade?
I assume the cash goes to the person owning the IRA.. not into the IRA itself....Thanks, Bob G.
Do you have to be an existing Scottrade customer to qualify for the rollover cash incentive? I have a prospective customer that might be interested.
Can a 401k be rolled into an ira?
Can yo give me some info on rates of retrn on rollver IRA's ?