How to rollover your Guideline 401(k) into an IRA
Updated over a week ago

An IRA is similar to a 401(k) in that it allows you to contribute toward your retirement in a tax-advantaged account. While 401(k) accounts are only available through an employer-sponsored plan, you can save for retirement personally with an IRA even after you leave employment or switch companies.

You can establish an IRA with Guideline or various other financial institutions, including banks, credit unions, and online brokerage companies. Generally, there are no fees to open an account, but there may be account minimums or other investment fees to consider.

IRA contribution limits are set by the Internal Revenue Service (IRS) but tend to be lower than 401(k) limits and may depend on your income, the type of IRA, and your or your spouse’s coverage under a retirement plan sponsored by an employer.

You can learn more about the differences between an IRA and 401(k) here.

How to start the rollover process

If you are eligible for a rollover, then a banner should appear at the top of your Guideline dashboard. To get started, click the button for “Choose Rollover Option.”

Screenshot 2023-08-31 at 11.15.23 AM.png

Rollovers to a Guideline IRA

To move your funds from your 401(k) to a Guideline IRA, select the following option in the rollover workflow:

Screenshot 2023-08-31 at 11.16.01 AM.png

Once you click the button to move forward, you’ll be guided through several steps where you can quickly set up your new IRA account and choose your portfolio (or keep the one you have), add beneficiaries, and read important account and fee information.

Your funds will generally be transferred within the next 7 business days.

Once set up, you can also rollover other retirement accounts to your Guideline IRA.

Rollovers to an external IRA

If you’d prefer to roll over your 401(k) into an IRA with a different provider, click the “See other options” button in the rollover workflow. Then, choose the following option:

Screenshot 2023-08-31 at 11.16.10 AM.png

Next, select how you’d like the check to be delivered and enter the requested information, such as the name of the receiving institution, mailing address, and account information.

Once processed, outbound rollovers can take several weeks for your new financial institution to receive and deposit into your account. You can learn more about the rollover process and timeline here.

When deciding whether to open a Guideline IRA or transfer your funds to another account, you should consider all associated fees. We recommend reviewing Guideline’s fee disclosure and comparing it against the fees charged by other providers.

Refer to Guideline’s Form ADV 2A Brochure for additional information regarding Guideline’s fees.

This content is for informational purposes only and is not intended to be construed as tax or investment advice. You should consult a tax professional or financial advisor to consider all alternative options to rolling your money into an IRA.

Did this answer your question?