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How To Request A Rollover Out Of Your Vestwell Account

  • Updated

To request a rollover out of your Vestwell account, please log in to your Vestwell portal https://signin.vestwell.com/

From your Vestwell portal, select 'Withdrawals & Rollovers,' then select 'I am no longer employed by the company' from the drop-down. Then go through the next selections:

  1. Select the distribution method:
    • Roll the entire vested balance to a qualified account.
    • Send a partial amount as cash; roll the remaining vested balance to a qualified account.
  2. Select delivery of cash by:
    • Check.
    • FedEx Check
  3. Select Rollover Destination
    • New Employer's Plan
    • Roth IRA
    • Traditional IRA
  4. Then fill out the new provider details
    • Provider Name
    • Account Number
    • Provider Address
  5. Then finally, agree to the terms and conditions.

Note - Your Vested account balance may change due to market fluctuations before processing your request. The processing fee will also reduce the amount you receive.

If you wish to deposit the money you receive into another qualified account, you will have 60 days after you receive payment to make the deposit.

Once you have submitted the form, we will process your request and send the funds to you or your specified rollover account.

What is the timeline for processing your request?

It can take up to 14 business days until your funds reach their specified destination from when you submit your request. Once we receive your request:

  1. We will review your request to confirm that it is valid and complies with all Plan rules. This can take up to 5 business days.

  2. We will sell your investments to generate the requested amount of cash. This takes 2-3 days from the day the trades initiate.

  3. Our custodian will then send the funds to the destination requested on the form…

      • Wire transfers can take up to 1-2 business days to transfer from the day they are released from your account. 

      • ACH (direct deposit) transfers can take up to 3 business days to transfer from the day they are released from your account. 

      • Checks (USPS regular mail) can take up to 7-10 business days to reach the destination from the day they are released from your account. 

What are the associated fees and potential tax implications?

Any fees for trades and transactions needed to liquidate the funds from your account may vary; these fees are outlined in our annual fee disclosure notice.

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