How to roll over an old 401(k)
Video Transcript
In this video, I'll show you how to roll over a prior four zero one k into your Betterment four zero one k.
From the goal overview of your retirement goal, you'll see a transfer or rollover drop down button. Here, you'll click and select rollover to Betterment.
The next few screens will ask you a few questions on the type of account and some other information related to that to ensure that we can auto generate instructions for you to take to your prior provider.
So we'll go through the process to move an old four zero one k. So we'll select retirement account.
We'll select four zero one k, and we'll select no because we are no longer actively contributing to that four zero one k, so it can be moved. We'll select traditional, meaning pretax only, and then we'll select that I wanna roll it into my Betterment four zero one k.
Here, you'll select a provider. We'll choose TD Ameritrade, and we'll ask some information just to understand your prior employer's name as well as the four zero one k name so we can ensure that the money gets to you and deposited appropriately.
This information is to ensure that it's a guesstimate and really close to what we expect to be receiving for you. So if you inputted twenty five thousand and we only got twenty five dollars, we'd probably follow-up to make sure that this is the right account that was moved.
Lastly, once all that is complete, you'll click generate instructions, which will provide a PDF that you can download and take to your prior provider in order to initiate the four zero one k transfer process.
Please do keep in mind that every provider has their own process and likely their own forms that you'll need to complete in order to process the transfer.
It does take some time, and every provider is a bit different. So do expect that it could take a couple weeks or potentially even longer depending on your circumstances in order to have your funds completely moved from that old four zero one k into your four zero one k here at Betterment.
Not to worry, though, your money is in good hands. And so once it gets here and once we get it deposited for you, you'll be notified of that deposit into your account, and you'll see that balance listed in your activity.