What instructions do I need to call my 401(k)/403(b) provider?

Ready to call your 401(k)/403(b) provider? Here’s how to prepare for the call:

 

  1. Determine your receiving account type:
  • If you’re rolling over a Traditional 401(k)/403(b), then you’ll be transferring your account into a Traditional IRA at Ellevest.
  • If you’re rolling over a Roth 401(k)/403(b), then you’ll be transferring your account into a Roth IRA at Ellevest.
  • If you’re rolling over a 401(k)/403(b) with both Roth and traditional funds, then you’ll be transferring your traditional funds to a traditional IRA, and your Roth funds to a Roth IRA at Ellevest.

 

  1. Find your Folio account number:
  • Log into your Ellevest dashboard and click on the top left-hand toolbar. Then click on “Profile” and scroll down to the bottom of the “Login” tab.
  • Make sure that your address is up to date with your current provider. You can usually do this online before you call.

 

  1. 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 account into an IRA at another provider.

 

  1. Give instructions
  • When your provider asks how you would like to receive the funds, tell them you need a check made out to:

Folio Investments FBO [Your Full Name] [Your Folio Account Number]

  • When they ask where to send the check, tell them you’ll need it sent to Folio directly:

Folio Investing

8180 Greensboro Drive, 8th Floor

McLean, VA 22102

 

  • Remember: the 401(k) or 403(b) 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 them to send it to you, so you can send it to Folio.
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