How Do I Request a Rollover Into my Vestwell Account From a SIMPLE IRA

If you want to request a rollover into your Vestwell account, you can log in to your Vestwell portal. Then, click "Withdrawals & Rollovers" on your Retirement Summary page and select "Rollover into Account."

Completing Your Rollover Form

Please complete our on-portal rollover form if you want to roll over assets from your SIMPLE IRA account. 

Some tips:

  • "Current Account Holder" refers to the company holding your SIMPLE IRA. 
  • You will need the current account number of your SIMPLE IRA. If you do not have this number, please get in touch with the previous provider directly.
  • Please leave this section blank if you need a contact person with your previous provider.

Once all the details have been filled out, you must contact your previous provider to initiate your rollover. Below are some details your provider will need to send your funds via Check, ACH, or Wire.

Letter of Acceptance

The current provider of your SIMPLE IRA may need a Letter of Acceptance (LOA) from Vestwell. If so, please mark "Yes" on the rollover form for the question, "Do you require a letter of acceptance to request the money transfer from your prior account?".

Once you have completed your rollover request, you may access your letter of acceptance through your savers portal. Go to the “Account” tab and then navigate to the “Transactions” tab. Here, you will see your rollover request. Select the three dots under the “Actions” section and select Download Letter of Acceptance. Your letter should be downloaded to be shared with your current SIMPLE IRA provider.

 

Initiating a Rollover Request with Your Current Provider 

Unfortunately, most providers have their instructions, so we cannot provide them directly. However, to find these, search your provider’s FAQs for terms such as “distribution” or “roll out funds.” Alternatively, all providers should have a helpline or email you can contact for additional information.

Please be sure that the request to your current provider includes specifications on how and where to send the assets (outlined in the email confirmation you will receive). While wire/ACH is the fastest method, it is only sometimes supported. If asked, your request will be a Direct Rollover, and all assets will be sent to your custodian, the company that holds the investments in your Vestwell plan.

Vestwell’s online form will instruct how and where to send the assets. You will also receive an email confirmation with the information you must provide to your previous provider. 

We’re Here to Help 

We are here to make this process as seamless as possible, hoping that having a consolidated account will help you manage your retirement savings more effectively. If you need us anytime, please don't hesitate to contact help@vestwell.com, and we will contact you as soon as possible.

If you need help contacting the company that currently services the account you wish to transfer to Vestwell, here is a link to a helpful article that may include their contact information.