Free 401k Rollover Request

The purpose of this request is to advise the administrator of a 401k plan that an account balance should be "rolled over" to an IRA or another retirement plan.

Use the 401k Rollover Request document if:

You want to provide notice of an election to "roll over" a 401k account balance.

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Add Do it Yourself Legal Documents to Your Attorney Web Site Attorneys, add this simple legal document service widget to your web site to connect with your clients and offer them the Internet legal services they want. With the Rocket Lawyer expert legal documents widget, clients will be able to create their own simple legal documents AND connect with you for expert legal services to help them complete the forms. It's an efficient way to obtain new clients and deliver new services to your existing clients. Read more 401(k) and 403(b) Retirement Plans 401(k) and 403(b) retirement plans let you save for retirement while deferring income taxes on the saved money and earnings until withdrawal. Many employers offer 401(k) plans to which you can contribute a percentage of each paycheck. Many companies even match up to a certain amount or percent. Learn more here. Read more Above-the-line Tax Deductions If you qualify, you can claim these tax deductions even if you don't itemize. There are also above-the-line tax deductions for self-employed individuals. Learn more here. Read more
Affidavit of Correction An Affidavit of Correction provides notice of an error in a prior document and offers the correct information. Read more Request to Place a Password on a Bank Account The purpose of this letter is to request that a password be required for any transactions on your bank account(s). Requiring a password helps prevent identify theft and fraudulent use of your account. Read more Request to Close a Fraudulent Bank Account This letter is used to tell a bank that an account in your name has been opened fraudulently (or without your permission) and should be closed. Read more
401k Rollover Request Recipient Plan Signing Instructions 401k Rollover Request The purpose of the 401k Rollover Request is to advise the administrator of a 401k plan that an account balance should be "rolled over" into an IRA or another retirement plan. Typically, this would occur when an employee leaves an employer because of either retirement or job termination. Generally the plan administrator will provide several options, one of which will be the transfer of the current account as a "direct rollover" to an IRA or another retirement plan (a "Recipient Plan"). The direct rollover option has the following advantages. If your current account balance is paid directly to you, the distribution will be taxable to you, and you will likely have to pay income taxes. Further, if you receive the distribution prior to age 59 and 1/2 years, you will also have to pay an additional 10 percent tax, unless you qualify for a hardship exception. Thus, the direct rollover allows you to continue the deferral of income taxes on your account. It is possible to handle a rollover by taking a distribution of your account directly to yourself, and then "rolling over" all or a portion of it to an IRA or another retirement plan within 60 days after you receive the distribution. You defer income taxes on any amount that you roll over and pay income taxes on any amount that you retain. The risk of this approach is that you might fail to timely transfer the funds into an IRA or another retirement plan within the 60 days, with the result that you pay income taxes on the entire distribution. The direct rollover avoids this result by having the funds go directly from your current plan to the new account. If you want a "partial" distribution and are willing to pay the taxes, you can take a partial distribution from the new account. The 401k Rollover Request form addresses only the safe option of requesting a direct rollover. Your plan administrator may advise you that you must make your request using the plan administrator's preprinted form. If you are locked into that approach and want to make a direct rollover request, carefully fill out your administrator's form, and in addition, complete this program's request form and give it to your administrator as a supplemental document. Recipient Plan IRA. If termination of participation in the current 401k plan is occurring because of retirement, it is typical to "roll over" the current account balance into an individual retirement account ("IRA"). Rollover IRA accounts can be established with banks, brokerage firms, some insurance companies, and other financial institutions. In most cases, the account can be set up so that you (as the IRA owner) can direct the investments of the IRA. The officer at the financial institution can provide the name of the IRA and the name of the trustee or custodian of the IRA. The trustee or custodian has legal custody of the funds and investments of the IRA. New Retirement Plan. If termination of participation in the current 401k plan is occurring because of job termination, you have the option to "roll over" the current account balance into an individual retirement account ("IRA"). In addition, if you are accepting employment with a new employer who allows "roll over" funds from former employer plans, you also have the option of transferring the funds from your current account to your new employer's plan. The appropriate personnel with your new employer can provide the name of the new retirement plan account. Signing Instructions The 401k Rollover Request should be signed by you. Retain a copy for your records. Deliver the original copy to your plan administrator. If you do not know the identity of your plan administrator, obtain the information from the person in your company who handles employee and personnel issues. Deliver a copy to the person handling your new account so that this person knows that you have requested the transfer and can contact your current plan administrator regarding any details of the transfer. Follow up with the plan administrator not less than 30 days after the date that you deliver the request to make sure that the plan administrator has properly transferred the account. Follow up with the person handling your new account not less than 30 days after the date that you deliver the request to the plan administrator to make sure that the new account has been established and that the funds have been received into your new account.

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Free 401k Rollover Request

Add Do it Yourself Legal Documents to Your Attorney Web Site

401(k) and 403(b) Retirement Plans

Above-the-line Tax Deductions

Affidavit of Correction

Request to Place a Password on a Bank Account

Request to Close a Fraudulent Bank Account

401k Rollover Request

Recipient Plan

Signing Instructions