Question about Qualified Rollover

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Question about Qualified Rollover

Post by newkidontheblock » Fri Jun 28, 2013 10:30 am


I am transferring 401K from my previous employer to my current employer.
Previous employer was using Schwab and the new employer uses Vanguard.
Vanguard rollover form says that Schwab should write a check and make it payable to "Vanguard Fiduciary Trust Company FBO "Your Name", last 4 digits of SSN (Plan #xxxxxxx)

When I go to the schwab site it has an easy way to sell all the investments and get a check payable to Vanguard. However the text field where I have to specify the fund recipient is not long enough to write everything Vanguard wants me to write.

Has anyone gone through this before? I am trying to determine what I should write on the check Payable to section if writing the entire string shown above is not possible.


Alan S.
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Re: Question about Qualified Rollover

Post by Alan S. » Fri Jun 28, 2013 11:17 am

You should call your current plan administrator to determine what you can abbreviate, what you could omit, or other solution. If the check will be mailed to you to forward to your new plan, see if you can write the missing data elsewhere on the check.

Default User BR
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Re: Question about Qualified Rollover

Post by Default User BR » Fri Jun 28, 2013 11:35 am

Alan's right, call Schwab. You might end up needing to fax or mail in the form with an attachment or something. Or someone there might be able to help.


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Re: Question about Qualified Rollover

Post by Marmot » Sat Jun 29, 2013 9:10 am

This is not what you are asking but, what about the idea of transferring to Vanguard . Once you roll it into your current plan you will only have the choices they offer (until you leave that employer). They may have good choices now, but what about two years when they make fund changes? FWIW - my wife's company actually offers some Vanguard funds at a lower cost ratio that we can get at Vanguard. They are a global employer and can negotiate good expense ratios.

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