Simplest way to rollover a Rollover IRA into an Employer 401k

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justsomeguy2018
Posts: 308
Joined: Wed Oct 03, 2018 8:11 pm

Simplest way to rollover a Rollover IRA into an Employer 401k

Post by justsomeguy2018 » Thu Nov 07, 2019 6:31 pm

Can the plan administrator of the 401k handle all of this? It seems cumbersome to have be the middle man in all this.

wildcat123
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Joined: Thu Oct 31, 2019 5:29 pm

Re: Simplest way to rollover a Rollover IRA into an Employer 401k

Post by wildcat123 » Thu Nov 07, 2019 6:39 pm

I am trying to do the same right now. Rollover an IRA from Vanguard to my employer 401k. I had to call Vanguard to email me the rollover form (it is not available online). I have to fill out the form and send it to Vanguard. They will mail me the check that I will have to send to the 401k provider.

HomeStretch
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Re: Simplest way to rollover a Rollover IRA into an Employer 401k

Post by HomeStretch » Thu Nov 07, 2019 6:40 pm

There is a process in place (likely not onerous) to do this that will require some involvement on your part. Contact your 401k provider to find out the process. Last time I did this it didn’t take much of my time but the process did take a couple weeks start to finish.

n00b
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Joined: Sun Feb 03, 2013 8:36 pm

Re: Simplest way to rollover a Rollover IRA into an Employer 401k

Post by n00b » Sat Nov 09, 2019 9:57 am

I do not understand why a person would prefer to hold funds in a 401k rather than a Traditional IRA. Can anyone enlighten me on the advantage?

jumbopapa
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Joined: Thu Aug 30, 2018 7:56 am

Re: Simplest way to rollover a Rollover IRA into an Employer 401k

Post by jumbopapa » Sat Nov 09, 2019 10:02 am

n00b wrote:
Sat Nov 09, 2019 9:57 am
I do not understand why a person would prefer to hold funds in a 401k rather than a Traditional IRA. Can anyone enlighten me on the advantage?
The typical reason is that to optimally complete a backdoor Roth IRA you need a traditional IRA with $0 balance.

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1789
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Location: OR

Re: Simplest way to rollover a Rollover IRA into an Employer 401k

Post by 1789 » Sat Nov 09, 2019 10:04 am

A person may need to do backdoor roth. For that to happen smoothly, he/she needs to have a zero balance in traditional ira
"My conscience wants vegetarianism to win over the world. And my subconscious is yearning for a piece of juicy meat. But what do i want?" (Andrei Tarkovsky)

n00b
Posts: 105
Joined: Sun Feb 03, 2013 8:36 pm

Re: Simplest way to rollover a Rollover IRA into an Employer 401k

Post by n00b » Sat Nov 09, 2019 10:08 am

Thanks jumbopapa and 1789! I thought it might be related to that but was unable to find a quick and clear explanation.

dheeru2008
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Joined: Tue Sep 16, 2008 12:47 pm

Re: Simplest way to rollover a Rollover IRA into an Employer 401k

Post by dheeru2008 » Sat Nov 09, 2019 10:08 am

wildcat123 wrote:
Thu Nov 07, 2019 6:39 pm
I am trying to do the same right now. Rollover an IRA from Vanguard to my employer 401k. I had to call Vanguard to email me the rollover form (it is not available online). I have to fill out the form and send it to Vanguard. They will mail me the check that I will have to send to the 401k provider.
I can't understand why brokerages make this rollover process so hard, especially in this day and age. Why can't this be done electronically? The amount of paper process that must happen is simply ridiculous.

Katietsu
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Re: Simplest way to rollover a Rollover IRA into an Employer 401k

Post by Katietsu » Sat Nov 09, 2019 10:16 am

The plan administrator might be able to help you but certainly not without your assistance. There will be paperwork to be completed that will be from whoever holds your IRA. I think you will need to be the one that obtains that form. How helpful the plan administrator may be at helping you complete the form is presumably quite variable. They should, however, help you with any paperwork required on their end. Whether or not the process will require a check that must pass through your hands or can be done directly is also variable in my experience.

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