To roll assets in your ShareBuilder Traditional IRA directly to an Employee Sponsored Retirement Plan, you must first
check with your employer or plan administrator to determine the required method. Some plans do not allow for the rollover
of IRA assets while others may not allow a rollover of securities and require that each security be sold prior to the
rollover. The Plan Administrator will be able to tell you the rules specific to your plan.
Once you have determined that the rollover will be allowed you will need to determine how your Plan Administrator
handles direct rollovers.
For a direct rollover you will be required to do one of the following:
- "Roll In" Form – Some Plan Administrators have specific paperwork that needs to be completed to request a
rollover. It will include such items as: your name and account number, to whom ShareBuilder must make the check payable,
and where to send it. To initiate the rollover, ShareBuilder requires that you mail a copy of this paperwork. ShareBuilder
also requires that your signature is Medallion signature guaranteed.
- Letter of Acceptance – If your Plan Administrator does not have paperwork such as a "roll in" form or a
rollover application, you may instruct ShareBuilder to send a letter requesting that the Plan Administrator confirm in
writing that they will accept the rollover. To receive a Letter of Acceptance from ShareBuilder, please provide the
- Employer or Plan Administrator name and address
- Your name, employer plan account number or your Social Security number
- Your name as it appears on the ShareBuilder IRA and account number (not Roth or ESA)
- Rollovers from an IRA to an employer sponsored plan incur the same $75 charge as other full transfers out. Funds need
to be made available in the cash balance before the rollover can be processed.
As an alternative to a direct rollover you may be able to take a distribution from your Traditional IRA, payable to
you, and then roll the assets to your employer sponsored plan, provided the plan allows this method. The IRS requires that
the assets from your Traditional IRA be deposited into your employer sponsored plan within 60 days of receiving the
distribution. If you fail to complete the rollover within 60 days taxes and penalties may apply. You should check with
your Plan Administrator to confirm this method is acceptable prior to electing a distribution.
You can make this distribution online as either an ACH to your bank or a check payable to you at your address on file.
A $5 check request charge will apply, rather than a transfer charge, if you elect the online distribution via check; there
is no charge for an ACH distribution. If you elect this method, keep in mind that some plan administrators will only take
a certified check or money order and will reject personal checks.