Before rolling assets from your ShareBuilder Traditional IRA into an Employer Sponsored Retirement Plan, contact your employer or plan administrator to ask about their requirements. Some plans don’t accept IRA rollovers while others may require you to sell shares and rollover cash only.
Once you’ve spoken with your plan administrator, there are usually two different ways you can request your rollover:
1. Direct rollover (ShareBuilder sends the assets to your plan administrator)
To request a direct rollover, contact your plan administrator to ask for their rollover forms. The forms should include your name, your account number, your plan administrator’s check mailing address, their check payee details, and your signature. Once you’ve completed their forms, your plan administrator must mail the original documents to ShareBuilder, and your signature must be Medallion Signature Guaranteed.
If your plan administrator doesn’t provide any kind of rollover paperwork, please contact ShareBuilder and provide us with the details below. We’ll use these details to write your plan administrator and ask them for a Letter of Acceptance, confirming they’ll accept your rollover:
- Employer or Plan Administrator name and address (this is who’s receiving your rollover)
- Your Employer/Plan Name (the name your administrator uses to identify your employer plan)
- Your Plan type (e.g. 401k, Profit Sharing Plan, etc.)
- Your name, employer plan account number or your Social Security Number (however your plan identifies you)
- Your name as it appears on the ShareBuilder Traditional IRA (not Roth or ESA), and your account number
Note: Direct rollovers from an IRA to an employer sponsored plan incur the same $75 charge as other full transfers out of ShareBuilder. You’ll need to make sure that money is available in your ShareBuilder account’s cash balance before the rollover can be processed.
2. Indirect rollover (You send the assets to your plan administrator)
As an alternative to a direct rollover, you may contact your plan administrator to ask if they accept indirect rollovers. An indirect rollover occurs when you take a distribution from your Traditional IRA, payable to you, and roll the assets into your employer sponsored plan. The IRS requires the rollover to be completed within 60 days of you receiving the Traditional IRA distribution, otherwise taxes and penalties may apply.
You can set up a distribution on our website by requesting a check made payable to you ($5), or you can request an electronic funds transfer to your bank (free). Please note that some plan administrators will only take a certified check or money order and will reject personal checks. Be sure to contact your plan administrator before requesting an indirect rollover.