UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: foolme1111 Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 74759  
Subject: Re: Stranded 401k's Date: 5/26/2000 8:34 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
It is YOUR money, and I would guess your former employers will be glad to get your accounts off of their books. You will have to fill out a bunch of forms (call the HR department at your former employer and request the forms) and get notarized signatures from your beneficiary(ies) to get the funds transferred to your IRA account.

BTW, if you don't already have an IRA account, you should establish one with the IRA custodian of your choice. Request from them a Direct Rollover form, fill it out and send it in. They will contact your former employer to effect the direct transfer as soon as all the paperwork is in order.

I would recommend that you avoid handling the money yourself to avoid the penalty for early distribution. Direct transfer is the cleanest method.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
2013 Feste Award Voting Begins!
Who will win the 2013 Feste Award? Vote now for the Fool that most exemplifies the Fool Community mission of Learning Together!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Berkshire Hathaway

Reestablishing the Middle Class
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement