How to Roll Your 401k or IRA Account From your Former Employer, Bank, Financial Advisor or Broker to an
Individual IRA Account
Are you retired? Have you changed jobs? Do you want to improve on an existing IRA account?
Here is what you need to know for your 401k or IRA Rollover
Does your old 401k or IRA need some help?
You do have a choice.
With changes in our life, come changes to our investments. Often those changes involving moving our retirement assets.
If you have ever changed jobs and have a 401k with your former employer, or if you have an IRA with
a bank, brokerage or investment firm and think it can be improved, Atlantic Financial
can help.
We can help you take the required steps to get your funds put into your
control by assisting with a 401k or IRA Rollover.
You have several options regarding your 401k plan when you retire or change jobs.
You can: move your assets to a personal IRA account, roll your assets to a 401k plan with your
new employer, keep your assets in your former employer's plan, or take your
distribution in cash and pay whatever penalties and taxes may apply.
Investors interested in maximum control and avoidance of penalties and
taxes generally choose to roll the account to their own IRA.
Your rollover will be an IRS Compliant IRA or 401k Rollover to
IRA. All rollovers provided by Atlantic Financial are
in compliance with IRS Regulations and known as a "trustee to
trustee transfer" and do not require you to pay fees or fines
to the IRS. Atlantic Financial specializes in 401k to IRA
Rollovers and has been helping people on the internet since
1994.
Transfer
Atlantic Financial and you will contact your bank or brokerage or
former employer and instruct them to roll your money into a new IRA
Rollover account using a trustee to trustee transfer.
Using a trustee to trustee transfer process, your money will go directly into your account and incur no penalties.
Review
Your former 401k administrator, bank or broker will transfer your
funds into your own name so that the funds may be transferred into
your new account. Atlantic Financial will keep you apprised of the progress
and inform you when the transfer is complete. Once your funds
have been credited to your new account, we will notify you and you
can begin the investment selection process. Atlantic Financial's trained advisors can help you choose the right investments for your IRA account.
Are You Rolling Over More Than $100,000? If so, you may be eligible for premium
additional services from Atlantic Financial.
What Are Trustee to Trustee Transfers?
Since both 401k Plans and IRAs are considered tax qualified retirement plans by the IRS,
certain regulations govern them in order for the funds to keep their special
tax deferred status. When you remove your funds from a 401k plan,
within 60 days the money must be placed into an account that is
also tax qualified. If not, you can lose your tax benefit and be subject to
IRS penalties. A trustee to trustee transfer occurs when the assets
from an account are transferred directly
from an IRA old 401k into your IRA or IRA Rollover account.
Is a Rollover Right for You?
Use the chart below to determine if
consolidating your retirement savings into an IRA or 401(k) makes sense,
considering your specific needs and situation.
Consolidate to an IRA if
you want:
Freedom from restrictions that may be present in
your workplace savings plan
Access to a full range of mutual funds, stocks,
bonds, CDs, and other investments
The ability to withdraw penalty-free for a
first-time home purchase or qualified education expenses
More flexible distribution options for
beneficiaries
A more complete view of your financial picture,
making it easier to maintain appropriate asset
allocation
Consolidate in a workplace
savings plan (e.g., 401(k) plan) with your current employer
if you:
Are over age 70 and want to defer your required
distributions
Will need to take a loan from this plan (if allowed
by your employer)
Leave your assets in your
former employer's plan if you:
Stopped working for that employer by at least age
55 and are not yet 59, need to withdraw funds for an
immediate need, and don't want to incur an early
withdrawal penalty
Chart Provided by Fidelity Advisor Funds (Fidelity and Fidelity Advisor
are one of the high quality fund companies recommended to clients by
Atlantic Financial, we are not affiliated with them in any way other than
our ability to offer their investment and clearing products)
Frequently Asked Questions
Do you have questions about your 401k Rollover or IRA Rollover?
Because IRAs allow a great variety of investments, Atlantic Financial offers over 18,000 mutual funds, as well as stocks,
bonds, CDs, managed accounts and other investments. You will have the ability to choose what investment vehicles are right for you. Our selection
includes Fidelity, Goldman Sachs, Barclays, Pimco, State Street Global
Advisors, Oppenheimer, Dodge & Cox, Alliance, JP Morgan Asset
Management, Putnam, MFS, Mainstay Funds, Franklin Templeton, American
Funds, Evergreen Investments, ING, Dreyfus, Oakmark and many other
leading companies. It is very likely that the specific investments you
owned in your old IRA or plan are available. The investment options offered through Atlantic Financial
are much wider than any corporate 401k plan and we can find investments
to meet a variety of investment profiles. Once your transfer is
complete, we can review a full list of options with you and a
professional advisor will help you with your selection.
Once your new IRA account is active, Atlantic Financial will review your goals, risk tolerance,
and investment plan to help you select investments that are right for you.
Together we can select a plan that works best for
you.
One of the main differences between Atlantic Financial and most brokers
and banks is our independent nature and global focus.
We are not tied to proprietary products, quotas, in-house investment
banking and so many of the other conflicts that plague our competitors.
We also focus globally and understand that our world is changing. We
don't agree with the standard lines of so many in our industry who claim
that everything is always fine while their clients continue to lose money
year after year. There is a better way. We don't have all the
answers but we have a better understanding of the problems and hopefully
solutions, than most.
Atlantic Financial has been helping investors with IRAs, IRA Rollovers,
and 401k plans since 1994 and has an outstanding reputation for client
service and satisfaction. We have no ties to proprietary mutual
fund or money management companies so the selection and quality of
advice you receive is virtually unmatchable.
Atlantic Financial may not be a fit for certain highly specialized accounts
such as those clients who wish to trade extremely rare investments with
very high frequency.
The cost from Atlantic Financial and our broker dealer for and IRA is
$35 per year. This includes custody services from our clearing
firm, all statements, financial advice, internet access, quarterly
reviews and all other services of the firm. Within the account
your investments may have built in charges such as those present in all
mutual funds, transaction such as stocks will be subject to our standard
commission schedule rates. Also, you may choose to have a
managed account which may or may not be discretionary in which you
receive additional advice and ongoing assistance with the management of
your money for one inclusive wrap fee.
"Rollover IRA" is the name given to an IRA that holds money from a
retirement plan like a 401k or 403(b). Money from an employer sponsored
plan is preferably rolled over into a Traditional IRA which allows you
to make IRA contributions, up to the annual limit. Contributions
cannot be made to a Rollover IRA.
Our
full range of integrated financial, estate planning and tax services can
accommodate the most discriminating investors while our personalized
education driven approach appeals to financial beginners as well.Atlantic Financial's services are ideally suited for investors with
over $100,000 in assets. (Our account minimum is $10,000.)
Accounts over $100,000 we typically recommend a wrap fee based account
which allows purchases of mutual funds as well as stocks, bonds, CDs and
other investments.
For accounts with less than $100,000 we typically recommend a mutual
fund account with Fidelity Advisor.
To be sure your are working to be in compliance with regulations, see the
IRS website,
IRS 401k Rules and Regulations or speak with a financial advisor from
Atlantic Financial
We can help your company serve former employees by transferring them
out of your plan and into their own IRA account. Atlantic
Financial also can set up new
401k plans as well as administer existing 401k plans.
To begin your 401k Rollover today or to ask questions, please call
1-800-559-2900, email Atlantic Financial, or contact us
in compliance with IRS Regulations and known as a "trustee to
trustee transfer"
