How Do I Request a Rollover to My Vestwell Account From a Simple IRA

If you want to request a rollover to your Vestwell account, start by logging in to your Vestwell portal. Then, click Withdrawals & Rollovers on your "Retirement Overview" page. Next, select Rollover into Account, then Start Rollover Request.

Completing Your Rollover Request Form

Please complete the "Rollover Request" form, selecting SIMPLE IRA from the "What type of account do you have?" drop-down.

Some Tips:

• • • "Previous Retirement 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 your previous provider directly.

Once you complete the Vestwell "Rollover Request" form, select Submit Rollover Request. You must contact your previous provider to initiate your rollover. Below are some details your provider may 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 saver portal. Go to the “Account Details” tab and then navigate to “Transactions." 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 and shared with your current SIMPLE IRA provider.

Initiating a Rollover Request With Your Current Provider 

Unfortunately, most providers have their own 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 you on how and where to send the assets. You will also receive an email confirmation with the information you must provide to your previous provider. 

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