Rollover IRA opened - when are funds available?

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susa
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Rollover IRA opened - when are funds available?

Post by susa » Sat Oct 05, 2019 5:04 pm

Fedex guaranteed check is received at Vanguard overnight address Monday.

VG is not handling any part of the rollover, all paperwork, all checks cut by 401k bank and forwarded to VG via Fedex.

What is the expected posting to VG Rollover IRA ? ie. 2,3,5, more days?

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jhfenton
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Re: Rollover IRA opened - when are funds available?

Post by jhfenton » Sat Oct 05, 2019 5:45 pm

susa wrote:
Sat Oct 05, 2019 5:04 pm
Fedex guaranteed check is received at Vanguard overnight address Monday.

VG is not handling any part of the rollover, all paperwork, all checks cut by 401k bank and forwarded to VG via Fedex.

What is the expected posting to VG Rollover IRA ? ie. 2,3,5, more days?
Friday two weeks ago we received my wife's rollover check from her old 401(k) custodian made out to Vanguard FBO my wife. I sent it to Vanguard priority mail on Saturday. Vanguard received it Monday morning before 9 AM (per the tracking number). It was already credited to her account when I checked at lunch time. I invested it the same day.

Your mileage may vary.

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susa
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Re: Rollover IRA opened - when are funds available?

Post by susa » Tue Oct 08, 2019 5:18 pm

Vanguard rollover was funded from an overnight check from top-3 US Bank and funds are posted into Federal Money Market Fund

It shows Funds Available to trade: (the full balance of the check) then it shows Unavailable (the full balance of the check).

So, apparently, not available to Buy/Sell/Exchange and no idea how many days in this mode ?

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Eagle33
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Re: Rollover IRA opened - when are funds available?

Post by Eagle33 » Tue Oct 08, 2019 11:58 pm

susa wrote:
Tue Oct 08, 2019 5:18 pm
Vanguard rollover was funded from an overnight check from top-3 US Bank and funds are posted into Federal Money Market Fund

It shows Funds Available to trade: (the full balance of the check) then it shows Unavailable (the full balance of the check).

So, apparently, not available to Buy/Sell/Exchange and no idea how many days in this mode ?
100% of Funds Available to trade (Buy/Sell/Exchange) inside IRA. Just unable to withdraw these funds yet from the IRA to another account.
Rocket science is not “rocket science” to a rocket scientist, just as personal finance is not “rocket science” to a Boglehead.

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susa
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Re: Rollover IRA opened - when are funds available?

Post by susa » Wed Oct 09, 2019 8:12 am

Eagle33 wrote:
100% of Funds Available to trade (Buy/Sell/Exchange) inside IRA. Just unable to withdraw these funds yet from the IRA to another account.
EDIT:

Tried that first, when selecting the Rollover IRA and the next page shows balance as Zero (0.00) ... on a 2nd attempt, ignored the display which shows 0.00 in Federal Settlement Fund and just entered Buy and Add New Fund. The new fund(s) showed and I typed some numbers into the boxes (still showing 0.00 as available) and clicked Continue.

Next display still shows 0.00 in Federal Settlement Fund but now shows money is coming from there on a 2nd line.

VG policy is to HOLD incoming rollover checks for 7 days for anything OUTSIDE VG Funds, or transfers / withdrawals.

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