If you're a plan sponsor looking to move your Guideline 401(k) plan to another provider, you'll need to complete the transfer packet. This packet contains two pieces: the “Plan Transfer Form” and a “Resolution.”
Please note that Guideline cannot proceed with the plan transfer until the forms are fully completed. Below, we have outlined what information each line is asking for:
Plan transfer form
Plan Sponsor (Company): Name of the company.
Plan Name (found in plan document): Name of the 401(k) plan at Guideline.
Name of Trustee: Name of the trustee for this plan (found on the Settings page of the plan dashboard)
Trustee Email: Email address of the trustee for this plan.
Name of Authorized Contact Person (if other than Trustee) - Optional: Name of alternate contact for this transfer.
Authorized Contact Email - Optional: Email address of alternate contact for this transfer.
Plan Transfer Date: Last pay date Guideline will collect contributions. The next subsequent contributions made to the plan will need to be collected by your new 401(k) service provider. This date should be on or after the last pay date Guideline collected contributions.
New Plan Administrator: Plan administrators are responsible for managing the day-to-day operation of the plan. Please provide the name and contact information at your new provider. It may be the same name as the recordkeeper and/or custodian/broker.
New Recordkeeper: Recordkeepers track assets in retirement plans. Please provide the name and contact information at your new provider. It may be the same name as the plan administrator and/or custodian/broker.
New Custodian/Broker: Custodians/brokers work for a brokerage company and serve as representatives for clients’ trading investment products. Please provide the name and contact information at your new provider. It may be the same name as the plan administrator and/or custodian/broker.
Wiring Instructions for Transfer of Plan Assets: The information needed to wire the assets to your new provider. Please work with your new service provider to ensure this information is accurate to avoid delays in the transfer of assets.
Signature of Plan Trustee: Have the trustee sign the form.
Date: Date that the form is signed.
Resolution
Merger resolution
Remove the sample/disclaimer from the top
[Name of Authorized Representative]: In paragraph 1, this can be anyone at the company with authorization to speak on its behalf
[Name of Company]: In paragraph 1, this is the name of the company
[Date]: The date in paragraph 1 is the date the company adopted the resolution - typically the date that the resolution was signed
[Merging Plan Name]: In paragraph 2, this is the name of the plan at Guideline (typically [Company Name] 401(k) Plan)
[Merging Plan Start Date]: This date in paragraph 2 is the effective date of the Merging Plan (the plan leaving Guideline) found in the plan document
[Plan Sponsor of Surviving Plan Name]: In paragraph 3, this is the name of the plan sponsor of the plan at your new provider
[Surviving Plan Name]: In paragraph 3, this is the name of the surviving plan (the plan that the merging plan is merging into at the new provider) - please ask the new provider what to put here
[Plan Start Date]: This date in paragraph 3 is the effective date of the surviving plan (the plan that the merging plan is merging into at the new provider) - please ask the new provider what to put here
[Plan Merger Date]: This date in paragraph 4 and 5 should match the "date of last contributions with Guideline" that you provide on your plan transfer form
Deconversion (regular transfer) resolution
Remove the sample/disclaimer from the top
[Name of Authorized Representative]: In paragraph 1, this can be anyone at the company with authorization to speak on its behalf
[Name of Company]: In paragraph 1, this is the name of the company
[Date]: This date in paragraph 1 is the date the company adopted the resolution - typically the date that the resolution was signed
[Plan Name]: In paragraph 2, this is the name of the plan at Guideline (typically [Company Name] 401(k) Plan)
[Plan Start Date]: This date in paragraph 2 is the effective date of the plan leaving Guideline (found in the Plan Document)
[Plan Transfer Date]: This date in paragraph 4 should match the "Plan transfer date" that you provide on your plan transfer form (as a reminder, both of these dates should be the date of last contributions with Guideline)