After you initiate your rollover with Ellevest, follow these steps:
- Determine your receiving account type, for example:
- If you’re rolling over a Traditional 401(k), then you’ll be transferring your account into a Traditional IRA at Ellevest.
- If you’re rolling over a Roth 401(k), then you’ll be transferring your account into a Roth IRA at Ellevest.
- Find your Folio account number:
- You can find your account number by clicking on the user menu at the top right-hand side of your dashboard. Under the Accounts option, select the correct account type to view your account number.
- Make sure that your address is up to date with your current provider. You can usually do this online before you call.
- Make the call
- Call the number on your statement - it’s likely the direct line for the Retirement Accounts Team.
- Once you get the right person on the phone, tell them you want to do a direct rollover of your 401(k), 403(b), or other account type into an IRA at another provider.
- Give instructions
- When your provider asks how you'd like to receive the funds, tell them you need a check made out to:
"Folio Investments FBO [Your Full Name] [Your Folio IRA Account Number]"
- When they ask where to send the check, tell them you’ll need it sent to Folio directly:
8180 Greensboro Drive, 8th Floor
McLean, VA 22102
- Remember: the 401(k) you’re rolling over to an Ellevest IRA cannot be sponsored by your current employer.
- If they won’t send the check to Folio directly, have them send the check to you, so you can send it to Folio.
Checks should never be sent directly to Ellevest. All checks sent to Ellevest will be returned. If you have any questions, please contact the Concierge team.