Permalink Submitted by Lee Hyder on Mon, 2008-03-10 00:03
I assume the person in question has retired or left and took another job and left his job but left the $ in the company 401k plan?
If so unless I am missing something thats not a big deal. You contact the customer ser dept and find out will they accept your transfer form to a new Ira direct transfer or do they have their own paper work the prospect needs to fill out to move the $/ You may also find out that they may over the phone follow the clients instructions and make the check payable to the new Ira paln as a fbo to the client. They may send the ck to the client that he can deliver to you( it was payable to the new ira) or they can send the check directly yo the new Ira company. Remember no 60 day roll over here. becareful the check does not get made payable to your client. FBO to your client is fine…( FBO=FOR THE BENEFIT OF )
Permalink Submitted by Lee Hyder on Mon, 2008-03-10 00:03
I assume the person in question has retired or left and took another job and left his job but left the $ in the company 401k plan?
If so unless I am missing something thats not a big deal. You contact the customer ser dept and find out will they accept your transfer form to a new Ira direct transfer or do they have their own paper work the prospect needs to fill out to move the $/ You may also find out that they may over the phone follow the clients instructions and make the check payable to the new Ira paln as a fbo to the client. They may send the ck to the client that he can deliver to you( it was payable to the new ira) or they can send the check directly yo the new Ira company. Remember no 60 day roll over here. becareful the check does not get made payable to your client. FBO to your client is fine…( FBO=FOR THE BENEFIT OF )