Rollover - why checks instead of wiring funds?

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stw
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Rollover - why checks instead of wiring funds?

Post by stw » Sat Jan 12, 2019 9:45 am

My wife has 401k funds sitting at the custodian (Slavic) of a previous employer. They have been good, and the funds she has there are all Vanguard. That said, we want to rollover everything to Vanguard. I've been looking over the process. It says we'll have to fill out paperwork, mail it, then have Slavic send a check to Vanguard, which could take upwards of four weeks. Yeow!

Is there a way to do this electronically? Would it go faster using a different company than Vanguard?

Thanks!

tmsul100
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Re: Rollover - why checks instead of wiring funds?

Post by tmsul100 » Sat Jan 12, 2019 9:50 am

I've had exactly the same issue. In my case, the new custodian (not Vanguard) was prepared to accept wired funds, but the organization holding the retirement funds protocol is to send a check. Seems weird in our day and age, but I'm guessing they have their reasons. I was able to do it over the phone, though, and transaction is expected to take about ten days - we'll see/fingers crossed!

Spirit Rider
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Re: Rollover - why checks instead of wiring funds?

Post by Spirit Rider » Sat Jan 12, 2019 9:59 am

I would even be surprised if they actually mail the check to Vanguard. The protocol in the vast majority of cases is to make the check payable to Vanguard FBO your account and mail it to you for forwarding to Vanguard.

Generally, the only time the rollover is electronic is if the Administrator/Recordkeeper and the destination custodian are one in the same.
Last edited by Spirit Rider on Sat Jan 12, 2019 10:02 am, edited 1 time in total.

Uniballer
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Re: Rollover - why checks instead of wiring funds?

Post by Uniballer » Sat Jan 12, 2019 9:59 am

Because they can. Who gets the float while funds are in transit?

SlowMovingInvestor
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Re: Rollover - why checks instead of wiring funds?

Post by SlowMovingInvestor » Sat Jan 12, 2019 10:08 am

Uniballer wrote:
Sat Jan 12, 2019 9:59 am
Because they can. Who gets the float while funds are in transit?
Does the custodian really collect the float, if there is any ? It's a certified check,right, so the bank gets the float ?

FWIW, Fidelity will transfer 401k funds to a local IRA account in 1 day (with no time out of market). Then you can transfer out with ACATs (again, with no time out of market).

ResearchMed
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Re: Rollover - why checks instead of wiring funds?

Post by ResearchMed » Sat Jan 12, 2019 10:10 am

We've been able to do the transfer electronically between vendors (e.g.,Vanguard & Fidelity), but both are in the same 403b plan.
And it can be "in kind", rather than just cash.

As for "delays" when checks are used, such as from 403b to an IRA, sometime approximately 10-15 years ago, TIAA-CREF (then the name) took weeks and weeks, and then more weeks to move a significant sum of cash. VERY annoying.

Quite a few years later, we suddenly got a very nice check from TIAA-CREF as our portion of a "settlement" of a class action lawsuit that we had not even known about. They had been sued for delaying these cash transfers and sitting on the money.

We haven't done that type of transaction again, yet, with TIAA, so I have no idea if they are really better now, or not.

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Vulcan
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Re: Rollover - why checks instead of wiring funds?

Post by Vulcan » Sat Jan 12, 2019 10:14 am

The only way to get at least some of the risk out of these transfers is to only transfer bond funds.

If you have bonds elsewhere in a tax-advantaged account, sell them there and buy an equivalent of what is in the account to be transferred, and do the opposite in that account.

If you don't have enough bonds overall to cover the entire amount, you can do partial transfers.

It's a hassle, but stocks can go up quickly in just a few days, and that may mean a lot of regret over permanently lost returns.
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retiredjg
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Re: Rollover - why checks instead of wiring funds?

Post by retiredjg » Sat Jan 12, 2019 10:18 am

This is common. They mail the check (made out to the new custodian) to the last known address of the employee.

I believe it is an attempt to reduce fraud. Presumably, anybody could open an IRA at any custodian and have someone else's 401k wired to it. By the time the real employee becomes aware, the money might just be gone. This could leave the 401k custodian holding the bag.

I have noticed that Fidelity will just do a transfer if both the 401k and the IRA are at Fidelity. I suppose others might do the same.

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jhfenton
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Re: Rollover - why checks instead of wiring funds?

Post by jhfenton » Sat Jan 12, 2019 10:28 am

I did manage to have one 401(k) rollover for my wife go via ACH from my wife's 401(k) at Schwab to a rollover IRA at TD Ameritrade. TD Ameritrade had the ability to set up a virtual checking account for her existing rollover IRA to receive the transfer and Schwab offered the option to rollover via ACH. Her money was only in cash 2-3 days.

Our other rollovers have always gone via check. :annoyed 401(k) custodians are definitely conservative and are stuck in the 20th century. I agree with retiredjg that a lot of it is fraud mitigation.

My 401(k) is at Fidelity, so when the day comes, I plan to just roll it into a Fidelity IRA and invest it immediately. If I eventually want to move it to Vanguard, I can do it in kind. At this point, it's too large for us to shift other assets around to compensate for it being in cash. It's a bit larger than our entire fixed income position.

yohac
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Re: Rollover - why checks instead of wiring funds?

Post by yohac » Sat Jan 12, 2019 10:36 am

ResearchMed wrote:
Sat Jan 12, 2019 10:10 am
As for "delays" when checks are used, such as from 403b to an IRA, sometime approximately 10-15 years ago, TIAA-CREF (then the name) took weeks and weeks, and then more weeks to move a significant sum of cash. VERY annoying.
TIAA is terrible, even today. I transferred my 403B to an IRA at TIAA, thinking that would make a subsequent transfer to Vanguard more straightforward. They now at least will let you request a rollover check online - but only a max of 50K. If you want to move more than that, you have to call and listen to the hard sell.

whomever
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Re: Rollover - why checks instead of wiring funds?

Post by whomever » Sat Jan 12, 2019 10:38 am

FWIW, my 403b is Vanguard funds, administered by Fidelity. To rollover to a Roth at Vanguard I have to call Fidelity, who has Vanguard mail me a check made out to Vanguard, which I mail back to Vanguard. Fidelity says that's the way my employer wrote the 403b rules.

It does seem a little archaic :-(.

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whodidntante
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Re: Rollover - why checks instead of wiring funds?

Post by whodidntante » Sat Jan 12, 2019 10:50 am

It's because stodgy, inflexible organizations like checks, or they hire attorneys and advisors who tell them to like checks and they don't question it. They especially like to put them into the mail, with two hops if possible. There are ways of mitigating fraud of electronic transfers, and verifying that someone is who they say they are. You know, like modern people do all the time.

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whodidntante
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Re: Rollover - why checks instead of wiring funds?

Post by whodidntante » Sat Jan 12, 2019 10:52 am

Vulcan wrote:
Sat Jan 12, 2019 10:14 am
The only way to get at least some of the risk out of these transfers is to only transfer bond funds.

If you have bonds elsewhere in a tax-advantaged account, sell them there and buy an equivalent of what is in the account to be transferred, and do the opposite in that account.

If you don't have enough bonds overall to cover the entire amount, you can do partial transfers.

It's a hassle, but stocks can go up quickly in just a few days, and that may mean a lot of regret over permanently lost returns.
Yes, good point. Temporarily increasing leverage is also a realistic option for some. I will now pull a sheet of plastic over me to protect me from flying fruit.

RickBoglehead
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Re: Rollover - why checks instead of wiring funds?

Post by RickBoglehead » Sat Jan 12, 2019 10:57 am

Make sure you approach this from the receiving company's vantage point, not the current 401k provider. Vanguard can tell you the process to be followed.

nordsteve
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Re: Rollover - why checks instead of wiring funds?

Post by nordsteve » Sat Jan 12, 2019 11:02 am

If you end up getting a check, keep in mind that at some dollar amount it’s worth using an overnight courier to deliver it to its destination.

jebmke
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Re: Rollover - why checks instead of wiring funds?

Post by jebmke » Sat Jan 12, 2019 11:14 am

RickBoglehead wrote:
Sat Jan 12, 2019 10:57 am
Make sure you approach this from the receiving company's vantage point, not the current 401k provider. Vanguard can tell you the process to be followed.
This is why, when it came time to rollover my 401(k) at Fidelity I opened an IRA at Fidelity. The rollover (some to Tira and some to ROTH) took 15 minutes over the phone with the Fidelity rep. Later, after all the paperwork was done and I had the correct tax forms, I initiated a custodian to custodian transfer of the IRA from Fid to VG. All the paperwork for this transfer was in VGs court. Note that custodian to custodian transfers don't generate any tax forms so there was no risk on that part.
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Re: Rollover - why checks instead of wiring funds?

Post by RickBoglehead » Sat Jan 12, 2019 11:20 am

jebmke wrote:
Sat Jan 12, 2019 11:14 am
RickBoglehead wrote:
Sat Jan 12, 2019 10:57 am
Make sure you approach this from the receiving company's vantage point, not the current 401k provider. Vanguard can tell you the process to be followed.
This is why, when it came time to rollover my 401(k) at Fidelity I opened an IRA at Fidelity. The rollover (some to Tira and some to ROTH) took 15 minutes over the phone with the Fidelity rep. Later, after all the paperwork was done and I had the correct tax forms, I initiated a custodian to custodian transfer of the IRA from Fid to VG. All the paperwork for this transfer was in VGs court. Note that custodian to custodian transfers don't generate any tax forms so there was no risk on that part.
Yeah, we just did that on our annual emptying of my wife's 403b, held at Fidelity.

tibbitts
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Re: Rollover - why checks instead of wiring funds?

Post by tibbitts » Sat Jan 12, 2019 11:32 am

The only way to solve this is to use cash from other accounts to hedge the transfer by buying equivalent securities on the same day you transfer all your investments in the to-be-rolled-over account to cash - and that's expensive if you have to borrow the cash. Of course usually you're hedging with taxable accounts so you can get dinged with short-term capital gains, but better to have taxable gains than none at all.

livesoft
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Re: Rollover - why checks instead of wiring funds?

Post by livesoft » Sat Jan 12, 2019 11:53 am

Doesn't sound too bad. Here is a thread of horror stories:
livesoft wrote:
Tue Jan 08, 2019 1:28 pm
Here is a thread about rollovers taking FOREVER: viewtopic.php?t=259113 Four weeks is not forever.
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SlowMovingInvestor
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Re: Rollover - why checks instead of wiring funds?

Post by SlowMovingInvestor » Sat Jan 12, 2019 11:54 am

nordsteve wrote:
Sat Jan 12, 2019 11:02 am
If you end up getting a check, keep in mind that at some dollar amount it’s worth using an overnight courier to deliver it to its destination.
Or if you have a local office of the receiving firm (Fidelity, Schwab etc.), dropping it off there. It will still need to go their central processing location, but I'm guessing they will overnight it themselves and save you some $$ :)

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walletless
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Re: Rollover - why checks instead of wiring funds?

Post by walletless » Sat Jan 12, 2019 11:59 am

Spirit Rider wrote:
Sat Jan 12, 2019 9:59 am
I would even be surprised if they actually mail the check to Vanguard. The protocol in the vast majority of cases is to make the check payable to Vanguard FBO your account and mail it to you for forwarding to Vanguard.
This is exactly the procedure I was told by Vanguard for my incoming 401k rollover to them. Vanguard refused to accept wire transfer because of how the plan owner (my employer) set up the plan.
SlowMovingInvestor wrote:
Sat Jan 12, 2019 10:08 am
FWIW, Fidelity will transfer 401k funds to a local IRA account in 1 day (with no time out of market). Then you can transfer out with ACATs (again, with no time out of market).
This is true. However Fidelity charges $50 to close the IRA, so once you ACAT out, they'll close your IRA and only transfer (x - 50) dollars.

hushpuppy
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Re: Rollover - why checks instead of wiring funds?

Post by hushpuppy » Sat Jan 12, 2019 12:01 pm

jebmke wrote:
Sat Jan 12, 2019 11:14 am
RickBoglehead wrote:
Sat Jan 12, 2019 10:57 am
Make sure you approach this from the receiving company's vantage point, not the current 401k provider. Vanguard can tell you the process to be followed.
This is why, when it came time to rollover my 401(k) at Fidelity I opened an IRA at Fidelity. The rollover (some to Tira and some to ROTH) took 15 minutes over the phone with the Fidelity rep. Later, after all the paperwork was done and I had the correct tax forms, I initiated a custodian to custodian transfer of the IRA from Fid to VG. All the paperwork for this transfer was in VGs court. Note that custodian to custodian transfers don't generate any tax forms so there was no risk on that part.
Does Fidelity then charge account closure fees, one for the Roth and one for the traditional IRA? The reason I ask is that about one year ago, I tried to determine if there was a way to avoid the time out of the market, when I moved money from a Fidelity 401k Traditional and Roth to Vanguard (Edit: Wife's In-Service Transfer). I was told that sending two separate FBO checks, which then I had to mail to Vanguard was the only way Fidelity could accomplish my objective.

Regards,

hushpuppy
Last edited by hushpuppy on Sat Jan 12, 2019 1:20 pm, edited 1 time in total.
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unclescrooge
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Re: Rollover - why checks instead of wiring funds?

Post by unclescrooge » Sat Jan 12, 2019 12:07 pm

Spirit Rider wrote:
Sat Jan 12, 2019 9:59 am
I would even be surprised if they actually mail the check to Vanguard. The protocol in the vast majority of cases is to make the check payable to Vanguard FBO your account and mail it to you for forwarding to Vanguard.

Generally, the only time the rollover is electronic is if the Administrator/Recordkeeper and the destination custodian are one in the same.
I would want them to mail it to me so I can forward it in to my brokerage.

That way if the money doesn't show up I know it went missing.

If company A directly sends it to company B and the money doesn't show up both companies are going to blame the other party. It's hard for me to know what happened when I'm not in the loop.

I just requested an in-service distribution for after tax 401k contributions. I got a check in 10 days.

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Re: Rollover - why checks instead of wiring funds?

Post by hushpuppy » Sat Jan 12, 2019 12:37 pm

walletless wrote:
Sat Jan 12, 2019 11:59 am
Spirit Rider wrote:
Sat Jan 12, 2019 9:59 am
I would even be surprised if they actually mail the check to Vanguard. The protocol in the vast majority of cases is to make the check payable to Vanguard FBO your account and mail it to you for forwarding to Vanguard.
This is exactly the procedure I was told by Vanguard for my incoming 401k rollover to them. Vanguard refused to accept wire transfer because of how the plan owner (my employer) set up the plan.
SlowMovingInvestor wrote:
Sat Jan 12, 2019 10:08 am
FWIW, Fidelity will transfer 401k funds to a local IRA account in 1 day (with no time out of market). Then you can transfer out with ACATs (again, with no time out of market).
This is true. However Fidelity charges $50 to close the IRA, so once you ACAT out, they'll close your IRA and only transfer (x - 50) dollars.
I thought there was a charge for closing a Fidelity IRA. That is one reason I prefer Vanguard to Fidelity.

Vanguard definitely has their own idiosyncrasies (faults). However, Fidelity (and unlimited others) generally regard your money as theirs, if they can find any excuse to do so. Edit: Compare this to Vanguard that has not charged me any fees beyond the expense ratio for a time longer than I can remember, but at least for two decades.

YMMV

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Last edited by hushpuppy on Sat Jan 12, 2019 1:30 pm, edited 1 time in total.
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Re: Rollover - why checks instead of wiring funds?

Post by RetiredAL » Sat Jan 12, 2019 1:18 pm

stw wrote:
Sat Jan 12, 2019 9:45 am
My wife has 401k funds sitting at the custodian (Slavic) of a previous employer. They have been good, and the funds she has there are all Vanguard. That said, we want to rollover everything to Vanguard. I've been looking over the process. It says we'll have to fill out paperwork, mail it, then have Slavic send a check to Vanguard, which could take upwards of four weeks. Yeow!

Is there a way to do this electronically? Would it go faster using a different company than Vanguard?

Thanks!
Last year a small Retirement Plan Account was transferred to my wife's IRA. They issued a check to Schwab Account FBO DW and mailed it to to us. I took it to the local Schwab Office for deposit. The next day it showed as available in her account. The transfer process took several weeks to cut the check, but only a couple of days in the mail. In this case, there were no equities involved, just money.

I suspect mailing a check to the person's known address is part of the security process to minimize theft. I know Schwab will not allow an external $ transfer/withdrawal within x days of any real or email address change while they notify the owner of the changes. Years ago, theft from my Dad's Schwab account was stopped by this security check.

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Earl Lemongrab
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Re: Rollover - why checks instead of wiring funds?

Post by Earl Lemongrab » Sat Jan 12, 2019 3:37 pm

Megacorp will only provide a check mailed to the address of record for the account holder, which you then forward to the new custodian. This is a security measure. In general, the process would not take anywhere like four weeks unless you sat on the check.
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Re: Rollover - why checks instead of wiring funds?

Post by jebmke » Sat Jan 12, 2019 3:46 pm

hushpuppy wrote:
Sat Jan 12, 2019 12:01 pm
jebmke wrote:
Sat Jan 12, 2019 11:14 am
RickBoglehead wrote:
Sat Jan 12, 2019 10:57 am
Make sure you approach this from the receiving company's vantage point, not the current 401k provider. Vanguard can tell you the process to be followed.
This is why, when it came time to rollover my 401(k) at Fidelity I opened an IRA at Fidelity. The rollover (some to Tira and some to ROTH) took 15 minutes over the phone with the Fidelity rep. Later, after all the paperwork was done and I had the correct tax forms, I initiated a custodian to custodian transfer of the IRA from Fid to VG. All the paperwork for this transfer was in VGs court. Note that custodian to custodian transfers don't generate any tax forms so there was no risk on that part.
Does Fidelity then charge account closure fees, one for the Roth and one for the traditional IRA? The reason I ask is that about one year ago, I tried to determine if there was a way to avoid the time out of the market, when I moved money from a Fidelity 401k Traditional and Roth to Vanguard (Edit: Wife's In-Service Transfer). I was told that sending two separate FBO checks, which then I had to mail to Vanguard was the only way Fidelity could accomplish my objective.

Regards,

hushpuppy
I don't recall - it was 5 years ago. Given the size of my transfers, my main concern was to make sure it went off without a hitch. This was before we had specific guidance on isolating the after-tax basis in a 401(k) so I was intent on getting the tax paperwork correct. I figured that if Fidelity was the sender and the recipient, then they owned the transfer end to end during the stage from 401(k) to IRA.
When you discover that you are riding a dead horse, the best strategy is to dismount.

epictetus
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Re: Rollover - why checks instead of wiring funds?

Post by epictetus » Sat Jan 12, 2019 3:57 pm

Fidelity no longer has the fee to close an IRA.

viewtopic.php?t=255571
Focus on what you can control

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rob
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Re: Rollover - why checks instead of wiring funds?

Post by rob » Sat Jan 12, 2019 4:00 pm

IMO it's part of dragging feet on money exiting.... Paper forms, checks in mail etc. Like companies that still can do faxes but not emails.
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LilyFleur
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Re: Rollover - why checks instead of wiring funds?

Post by LilyFleur » Sat Jan 12, 2019 4:16 pm

Remember a 401k usually provides more protection against creditors than an IRA. As you age, you are more likely to incur medical debt even with insurance. In California, if you declare bankruptcy, you could lose a significant amount of house equity. The 401k is a good asset.

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Re: Rollover - why checks instead of wiring funds?

Post by AlphaLess » Sat Jan 12, 2019 4:27 pm

I have done a ton of rollovers in the last two years.

Here they are from easiest to hardest:

- from Fidelity to Fidelity. I guess it was nearly instant. Did not even have to liquidate in those cases when same fund was available. I am guessing that zero day, or one day out of the market,
- from E*Trade to Fidelity. Required a check, but check went through me. This was super-fast. Think: how many days does a regular mail take to travel from A to B. But you need to do this twice: from E*Trade to you, and from you to Fidelity,
- from Optum Bank (HSA) to Fidelity. Fill the form at Fidelity, print it, sign it, send to Fidelity, then Fidelity does the magic behind the scenes. I botched this one, because: (a) I liquidated the funds at HSA bank from stocks to cash, and then (b) sat on the Fidelity form for a while. But looks like by doing that, I ended up getting lucky, by selling high.
- from random custodian A to random custodian B (that shall go unnamed). Custodian A wanted some forms filled out by custodian B, and custodian B sent us forms to fill out so that they can send it to A. And then A sent check to B, etc. Painful. I think this might have minimized time out of market, because check got mailed once. At the end, it was pretty fast.

So, we were fortunate that the transfer amounts were small portions of our net worth. I think the largest was the Fido to Fido transfer, and it was probably 5-8% of our net worth.

One disadvantage of consolidation is that accounts grow larger.

So one might consider two things:
- when there is flexibility with accounts (e.g., after tax, or rollover type accounts), don't hold them in the same brokerage house: spread the love. E.g., have a Fido and Vanguard account,
- when you have to transfer a large account (say, your previous employer's 401K account), and you have a large account, consider transferring in pieces. Say, you are moving $2MM account from Fido to Vanguard. Is it better to split into 4 chunks and do the move like that, even if you have to pay $25 per transfer request? I would do it that way, if possible. Having $2MM out of market for an unknown, random period of time is not a good idea.
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retiredjg
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Re: Rollover - why checks instead of wiring funds?

Post by retiredjg » Sat Jan 12, 2019 4:31 pm

epictetus wrote:
Sat Jan 12, 2019 3:57 pm
Fidelity no longer has the fee to close an IRA.

viewtopic.php?t=255571
Well that's nice to know!

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Re: Rollover - why checks instead of wiring funds?

Post by hushpuppy » Sat Jan 12, 2019 4:41 pm

epictetus wrote:
Sat Jan 12, 2019 3:57 pm
Fidelity no longer has the fee to close an IRA.

viewtopic.php?t=255571
Thanks for posting the link, which does indeed show that Fidelity does not currently charge an IRA closure fee, per another link that includes a Fidelity fee tab. In my case this would make a difference, if I have the need for another in-service, or on termination, transfer for my wife. (Edit: By the way I am amazed at all the separate things that Fidelity lists for which they magnanimously do not charge fees. :shock: )

I still am much more appreciative that Vanguard didn't have the fee (At least in my memory) in the first place. I know that I often "am not hitting on all cylinders". I hope and believe that Vanguard is less likely to have or create policies that I have to remain cognizant of to avoid losses (Even small amounts compound :) ). I now have reason(s) to believe that my wife would have great difficulty in discerning financial nuances, when I am gone.

YMMV

hushpuppy
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Re: Rollover - why checks instead of wiring funds?

Post by MrJones » Sat Jan 12, 2019 5:22 pm

retiredjg wrote:
Sat Jan 12, 2019 10:18 am
This is common. They mail the check (made out to the new custodian) to the last known address of the employee.
Yep. My last megacorp had multiple address databases. Enough said. It took me months and months, and tens of hours of my time to get the rollover done. Unbelievable in this day and age.

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Earl Lemongrab
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Re: Rollover - why checks instead of wiring funds?

Post by Earl Lemongrab » Sat Jan 12, 2019 7:50 pm

rob wrote:
Sat Jan 12, 2019 4:00 pm
IMO it's part of dragging feet on money exiting.... Paper forms, checks in mail etc. Like companies that still can do faxes but not emails.
I disagree. At Megacorp, everything about taking distribution is pretty easy, fast, and free. I have no trouble believing that it's for security. It would be a lot harder for hackers to get your money by intercepting a physical check than with a wire transfer.
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Re: Rollover - why checks instead of wiring funds?

Post by Katietsu » Sat Jan 12, 2019 8:22 pm

yohac wrote:
Sat Jan 12, 2019 10:36 am
ResearchMed wrote:
Sat Jan 12, 2019 10:10 am
As for "delays" when checks are used, such as from 403b to an IRA, sometime approximately 10-15 years ago, TIAA-CREF (then the name) took weeks and weeks, and then more weeks to move a significant sum of cash. VERY annoying.
TIAA is terrible, even today. I transferred my 403B to an IRA at TIAA, thinking that would make a subsequent transfer to Vanguard more straightforward. They now at least will let you request a rollover check online - but only a max of 50K. If you want to move more than that, you have to call and listen to the hard sell.
I have done 3 of these transfers recently. TIAA was the easiest and fastest. Fidelity took multiple calls, forms, and about 5 weeks but some of this was apparently dictated by the employer plan. VALIC is always a disaster. You do feel like you are going back into the last century when you move retirement assets after the ease of electronic funds transfers, mobile deposits and ACATs.

Topic Author
stw
Posts: 22
Joined: Wed Jul 05, 2017 10:29 am

Re: Rollover - why checks instead of wiring funds?

Post by stw » Thu Jan 17, 2019 5:27 pm

Original poster here. Wow! Thanks so much for all of your replies. It really does feel archaic to do it this way, but if that's what you gotta do, that's what you gotta do.

What happens if the check gets lost in transit? I realize that is an unlikely scenario, but it's still possible. As someone said below, I think I would pay to have it overnighted. We have to do this with a couple of different 401k pools that my wife has.

Thanks again. I really appreciate the collective wisdom and advice here.

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