What is a Letter of Acceptance? Do I need one?
A Letter of Acceptance will indicate to your current financial institution that Vestwell agrees to accept your funds from the current custodian and deposit them on your behalf. Your current provider may not require a Letter of Acceptance to release your funds for a transfer to Vestwell. Please check with your current financial institution for this information.
What is a “Roth Cost Basis”? Where do I find it?
If you will be rolling your Roth funds into Vestwell, you will need to provide a Roth Cost Basis. Roth Cost Basis refers to the amount of designated Roth money you have contributed through deferrals to your current Roth account. This does not include earnings on the contributions you have previously made. Please check your current provider’s statement for this information.
If I am rolling funds into my Vestwell account from Roth and Pre-tax accounts, can I use the same rollover form?
No, you must submit two forms through your Vestwell Participant Portal. Please specify on Step 2 of the form if the funds will be Roth or Pre-tax for each form you complete.
Contact help@vestwell.com for any further inquiries.