| Posted By |
Message |
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
IRA/401K experts
I got the roll over check from my old job- made out to my bank
do I just take it there and deposit it to my IRA account?
is it that easy?
TIA
|
Posted 11/16/06 3:35 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: IRA/401K experts
Yes, if you already have an established IRA account. You will probably need to speak to someone regarding allocation though so I would get a banker involved.
eta: BTW-not an expert, I just have the experience of doing it.
Message edited 11/16/2006 3:49:22 PM.
|
| Posted 11/16/06 3:48 PM |
| |
|
june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
|
Re: IRA/401K experts
How long ago was it?
|
| Posted 11/16/06 3:49 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: IRA/401K experts
so I have to go in and sit down with someone?
I just want to add it to the one I already have - so that shouldn't take too long
|
| Posted 11/16/06 3:49 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: IRA/401K experts
Posted by june262004
How long ago was it?
was what?
|
| Posted 11/16/06 3:50 PM |
| |
|
june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
|
Re: IRA/401K experts
Did you get the check 
|
| Posted 11/16/06 3:50 PM |
| |
|
MarisaK
HELLO Manolo !!
Member since 5/06 14562 total posts
Name:
Marisa
|
Re: IRA/401K experts
Beth - You normally have 60 days to roll fund over with out tax implications - However, for your own sanity come tax season, call the previous 401k carrier and be sure they've coded your distribution as a rollover. -
And save any paperwork you receive from your IRA carrier to prove you deposited that check on "x" date.
Message edited 11/16/2006 3:52:02 PM.
|
| Posted 11/16/06 3:51 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: IRA/401K experts
Posted by june262004
Did you get the check
2 days ago
|
| Posted 11/16/06 3:58 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: IRA/401K experts
Posted by MarisaK
Beth - You normally have 60 days to roll fund over with out tax implications - However, for your own sanity come tax season, call the previous 401k carrier and be sure they've coded your distribution as a rollover. -
And save any paperwork you receive from your IRA carrier to prove you deposited that check on "x" date.
the check is made out to citibank
and it's going into a roll over account that I set up a while ago
so I am not worried about taxes- I saved all my paper work- the check isn't even for $1K
I had jsut started the 401K when I left
|
| Posted 11/16/06 3:59 PM |
| |
|
june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
|
Re: IRA/401K experts
Posted by Beth1210
Posted by june262004
Did you get the check
2 days ago
Oh Ok. I thought you had left that job a while ago I was worried for you about the 60 day thing 
|
| Posted 11/16/06 4:00 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: IRA/401K experts
thanks- it took me forever to get the check- but I just got it!
thanks for the help everyone!
|
| Posted 11/16/06 4:10 PM |
| |
|
eroxgirl
My Loves
Member since 5/05 15697 total posts
Name:
Rebecca
|
Re: IRA/401K experts
I'm certainly no expert - I barely even qualify for amature on this topic - but I've done this and if I remember correctly I just deposited the check into my IRA, I believe with a letter explaining it.
I'm sorry I don't remember exactly but it was more than 5 years ago. I know I didn't speak with anyone in person though.
|
| Posted 11/16/06 4:13 PM |
| |
|
