Rolling over and transferring funds into your Solo 401k is easy! Let's cover the simple steps to generate a Rollover Request on your Solo 401k dashboard:
Use the email and password you originally signed up with; alternatively, if you originally signed up using your gmail or facebook account, select that option.
Note: If you're creating a rollover packet for your spouse, the spouse login needs to be used.
Step 2: Click on "Move money" in the top menu, then "Start Incoming Rollover"
Step 3: Select where the funds are coming from
If you're rolling out of an employer plan, contact the HR department to ask who is the custodian who holds your funds.
If you don't see your custodian listed, scroll to the bottom and choose "Other". Then enter the custodian information.
Step 4: Once you select the custodian, you'll see their information is automatically entered for you
Step 5: Enter the information for your releasing plan/account
Select the account type. Note: Roth IRAs cannot roll into a 401k, so you won't see that option on the list.
Type in your account number.
Note: if you're rolling out of an employer plan, you may not have an account number, and you can input your SSN instead. Check with your releasing custodian here if you're not sure.
If you're rolling over the entire account, select "Entire balance". If you're rolling over a partial amount, select "Dollar amount" and type in the amount you want to rollover.
Step 6: Follow the instructions on this page to send your rollover request to your releasing custodian
Step 7: Review your pre-filled rollover request form and Send the rollover packet to the releasing custodian
You'll see the instructions tell your releasing custodian to write a check to your trust name and mail it to you. Once that check is received, you can deposit it into the bank account that you're opening for your trust.
How to Sign the Rollover Packet
Sign in Section 1 & 2
Leave Section 3 blank - this is where the current custodian will sign
Who Gets the Check
The releasing custodian will send you a check payable to your 401k trust. Once received, endorse the check and deposit it into the bank or brokerage account you've opened to hold your 401k funds (more on this in a minute).
After funds are deposited, you're ready to start investing.
Tips to complete the rollover request generator
Have your latest account statement handy - you'll need your account number!
Complete one transfer request per account. If you are rolling over an IRA, a 403b and a previous employer 401k, you'll complete this rollover request three times (one per account)
If your spouse is rolling over funds, they should use their login to generate the rollover form
Always call and make sure you are sending the rollover request in the correct format...some custodians prefer you fax the request. Others will require you mail it. Some will allow you to email it over
Many custodians insist you use their rollover/transfer forms. That's OK! Just make sure you are also including your Solo 401k rollover request as it contains valuable information about your direct rollover (aka trustee-to-trustee transfer)
How to do an In-Kind Rollover Without Liquidating Your Asset
You can rollover an existing asset from another retirement plan without selling that asset first. This is known as an in-kind transfer.
You may be rolling over shares in an apartment syndication, or an investment in a private equity or private hedge fund. Or maybe you already have a piece of real estate owned by a self-directed IRA or Checkbook IRA (IRA LLC). You can roll these assets over to your Solo 401k trust without selling them first.
Our in-app rollover forms assume a cash rollover so if you need to rollover assets in-kind, you may want to include an additional instruction or cover letter clarifying the assets will be transferred to the Solo 401k trust in-kind (without liquidating).
How to Rollover Real Estate In-Kind (Not Selling First)
Get a fair market value appraisal on your property from a real estate agent
Work with your attorney to create a grant deed (learn more here: What is a Grant Deed and Why Might I Need One?)The deed will grant ownership from the IRA to the Solo 401k trust.
Retitle the asset so it is now in name of your 401k trust (NOT your name)
Work with your attorney or title company to create a grant deed. Send the entire packet (401k rollover packet with in-kind asset transfer instructions, fair market valuation, and prepared grant deed). The IRA custodian will sign the distribution form and grant deed effectively transferring the property into the Solo 401k trust.
How to Rollover Apartment Syndication Interests
Work with your attorney to retitle the existing investment so it is titled in the name of your 401k trust trust
Ensure all future capital calls (if any) come from your 401k trust and distributions are paid to your 401k trust bank or brokerage account
How to Rollover Hedge Funds, Private Funds & Startup Investments
Work with your attorney to retitle the existing investment so it is titled in the name of your 401k trust trust
Ensure all future capital calls (if any) come from your 401k trust and distributions are paid to your 401k trust bank or brokerage account