Fidelity solo 401k paperwork question: "New Plan" versus "Amend Exisiting"

[bookgirl]

I am trying to move my solo 401k from Ascensus to Fidelity. With regard to the paperwork for Fidelity "New Fidelity Account/Retirement Plan Account" on page 1, number 1. "Retirement Plan Information." Fidelity has "New Account--New Plan" Establish a new SE 401k Plan Account already checked in the forms they sent as a PDF. It is also already checked when I try to submit the form electronically on their website. I can not uncheck it. This is not correct though is it? The other option is "Amend an Existing Plan," Amend an existing profit sharing plan account to an SE 401k Plan Account. And it requests the existing account number. You can only select one box and the box is auto selected but I think it's the wrong box.

I am amending an existing plan, right? And then my Ascensus account number would go in the account number box, right?

Thanks in advance.

[toddthebod]

It's an amended plan but account number is blank, since it's not a Fidelity account.

[bookgirl]

It's an amended plan but account number is blank, since it's not a Fidelity account.

Thank you, Todd

[bookgirl]

Fidelity wants an account statement from Ascensus. But there isn't one as Ascensus issues them quarterly. I assume it will be available soon? I am wondering how other folks have moved from Ascensus to Fidelity without an Ascensus statement? Did you use your Vanguard statement? Or did they give you a balance statement?

My semi local Fidelity branch insists that I should select "new account/new plan" instead of "amend an existing plan" on their forms: https://www.fidelity.com/bin-public/060 ... ct-app.pdf

I know this is incorrect and I am frustrated at the constant wrong instructions from Fidelity. I did finally locate the form with the "establish a new SE 401k plan" not auto checked. It's too bad I have to snail mail this in. The electronic version has it auto checked and you can't change it. So if you're amending a plan to Fidelity you'd have to snail mail the paperwork.

[HomeStretch]

Can you do a a screenshot from the Ascensus website?

For a transfer, Fidelity accepted screenshots from me for transfer agent (TA) accounts as the TAs did not issue statements at all.

[bookgirl]

Can you do a a screenshot from the Ascensus website?

For a transfer, Fidelity accepted screenshots from me for transfer agent (TA) accounts as the TAs did not issue statements at all.

Sure, I could try that. Never occurred to me. Thank you.

[bookgirl]

Two Fidelity reps. have insisted that I must have opened the solo 401k with them prior to initiating a transfer of funds from Ascensus. But the Fidelity paperwork states that before submitting the application be sure that you "include a check to fund your account, if funding by a check." So what is the proper sequence to open and fund the account? Fidelity told me to fill out the paperwork, wait for the 401k to appear in my existing Fidelity account and then initiate liquidation at Ascensus. Then have Ascensus send me a check and then mail the check to Fidelity.

[toddthebod]

Two Fidelity reps. have insisted that I must have opened the solo 401k with them prior to initiating a transfer of funds from Ascensus. But the Fidelity paperwork states that before submitting the application be sure that you "include a check to fund your account, if funding by a check." So what is the proper sequence to open and fund the account? Fidelity told me to fill out the paperwork, wait for the 401k to appear in my existing Fidelity account and then initiate liquidation at Ascensus. Then have Ascensus send me a check and then mail the check to Fidelity.

You can do it either way.

Open account at Fidelity First
Ascensus makes the check out to "FIIOC FBO bookgirl" and specifies your new account number on the the check, then mails the check directly to Fidelity.

Open account after liquidating
Ascensus makes the check out to "FIIOC FBO bookgirl," does not specify your new account number on the the check, then mails the check to you. You can include the check with your application.

I would call the Fidelity retirement team (800-544-5373) directly and discuss with them. Do not take any advice from anyone at a branch or answering the general customer service line.

(Please verify the phone number yourself before calling.)

[bookgirl]

Two Fidelity reps. have insisted that I must have opened the solo 401k with them prior to initiating a transfer of funds from Ascensus. But the Fidelity paperwork states that before submitting the application be sure that you "include a check to fund your account, if funding by a check." So what is the proper sequence to open and fund the account? Fidelity told me to fill out the paperwork, wait for the 401k to appear in my existing Fidelity account and then initiate liquidation at Ascensus. Then have Ascensus send me a check and then mail the check to Fidelity.

You can do it either way.

Open account at Fidelity First
Ascensus makes the check out to "FIIOC FBO bookgirl" and specifies your new account number on the the check, then mails the check directly to Fidelity.

Open account after liquidating
Ascensus makes the check out to "FIIOC FBO bookgirl," does not specify your new account number on the the check, then mails the check to you. You can include the check with your application.

I would call the Fidelity retirement team (800-544-5373) directly and discuss with them. Do not take any advice from anyone at a branch or answering the general customer service line.

(Please verify the phone number yourself before calling.)

Will do. Thanks, Todd.

[learningcc]

Does Fidelity solo 401K let you buy ETF directly, e.g. SPY, QQQ?

I have a solo at TRowe Price. There are quite a few funds available , however, there is no ETF.