401k check - rollover to IRA

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Topic Author
BrandonSi
Posts: 136
Joined: Mon Nov 26, 2007 4:19 pm
Location: Chicago, IL

401k check - rollover to IRA

Post by BrandonSi »

OK gang, I know you're not Vanguard support, so I thank you in advance for your information and patience. I filled out the information to create a traditional IRA account a few weeks ago, and I deposited $4,000, all online, no problem. I had a 401k with a previous employer, and I filled out the distribution paperwork, and they mailed me my check (payable to Vanguard, F/B/O me) but now I'm lost as how to get the check to Vanguard to be deposited in the IRA. I tried to do it via their website, and I get a "wrong page" error after it asks me if they can fill in my name/address for me.. I've done it both ways, saying yes and no to them filling in my information on the paperwork, same error. Does anyone have a direct link to the paperwork I need, or can suggest an alternate plan?
sport
Posts: 9650
Joined: Tue Feb 27, 2007 3:26 pm
Location: Cleveland, OH

Post by sport »

Brandon,
I believe all that you need is a deposit slip for your existing account. If you do not have one, ask Vanguard to send one to you. All you then need to do is complete the deposit slip and mail it with the check to Vanguard. If you want to put the money into a different fund than the one you already have, you can exchange it after your account is credited with the deposit (assuming your fund does not have early withdrawal penalties). You should verify all of this with Vanguard before you actually do anything, and follow their instructions.

Best wishes,
Jeff
Topic Author
BrandonSi
Posts: 136
Joined: Mon Nov 26, 2007 4:19 pm
Location: Chicago, IL

Post by BrandonSi »

jsl11 wrote:Brandon,
I believe all that you need is a deposit slip for your existing account. If you do not have one, ask Vanguard to send one to you. All you then need to do is complete the deposit slip and mail it with the check to Vanguard. If you want to put the money into a different fund than the one you already have, you can exchange it after your account is credited with the deposit (assuming your fund does not have early withdrawal penalties). You should verify all of this with Vanguard before you actually do anything, and follow their instructions.

Best wishes,
Jeff
Thanks Jeff, I'll give them a call tomorrow!
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NAVigator
Posts: 2457
Joined: Tue Feb 27, 2007 7:24 am
Location: Iowa

Post by NAVigator »

I will second the advice given above to call Vanguard to make sure this gets done properly. They have a whole department devoted to handling retirement fund transfers to Vanguard. If you are uncertain which fund to use for your rollover, you can put it in a money market fund so you can then exchange it as you see fit whenever you like.

Vanguard can supply you with the necessary forms to use to accomplish your rollover smoothly and easily. I hope this is one of your better financial decisions as it was for me.

Jerry
"I was born with nothing and I have most of it left."
Topic Author
BrandonSi
Posts: 136
Joined: Mon Nov 26, 2007 4:19 pm
Location: Chicago, IL

Post by BrandonSi »

Quick, last question!

I called Vanguard and spoke to soemone there, they said to just type up a letter requesting the deposit, include the check and the account number and send it. The question is, do I need to sign the check? It's payable to Vangaurd, and f/b/o myself. I had to wait about 12 minutes to talk to someone last time, and I'd rather not do that.. Common sense tells me that the check is made payable to them, so they would need to sign it, but I don't want the check to get mailed back to me, and delay this process another week or two. Has anyone else had to do this, and did you sign the check?

Thanks!

Brandon
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