What steps do I need to take in order to transfer a 401k into a bank's 401k?
A 401K is a retirement account which has tax deferred features. You should discuss moving funds from one account to another with a financial planner. There are specific instructions that should be given to move the funds in order to avoid any penalty. The accounts must be qualified, your bank may not offer these, and the timing is critical. Speak with your broker or tax adviser.
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A 401K is a retirement account which has tax deferred features. You should discuss moving funds from one account to another with a financial planner. There are specific instructions that should be given to move the funds in order to avoid any penalty. The accounts must be qualified, your bank may not offer these, and the timing is critical. Speak with your broker or tax adviser.