401(k) Rollover FAQ
Answers to the most common questions about 401(k) rollovers, IRA consolidation, taxes, and our service.
About Our Service
What does this service cost?
Nothing. Our service is completely free to you. Advisors in our network pay us a fee when we introduce them to someone. Because we are paid for introductions, we do not rate or recommend one advisor over another.
What does "rolling over" a 401(k) actually mean?
Rolling over means moving your retirement savings from one account to another — without paying taxes or penalties. For example, moving your old 401(k) into an IRA so it can keep growing in one place under professional management.
Can you help me find old 401(k)s I've forgotten about?
Yes — this is one of our specialties. Tell us where you've worked and we'll help track down any old retirement accounts you may have lost track of.
How do I access my old 401(k)s?
You don't have to dig through old paperwork. We help track down your old 401(k)s using your employment history and connect you with each plan administrator.
Taxes & Penalties
Will I owe taxes when I roll over?
Not if you do a direct rollover. With a direct rollover, funds move straight from one retirement account to another — no taxes or penalties. An indirect rollover (check sent to you first) triggers mandatory 20% withholding and a 60-day deadline.
What is the 10% early withdrawal penalty?
If you withdraw retirement funds before age 59½ (not roll them over — actually withdraw), you typically owe a 10% penalty plus ordinary income taxes. Rollovers avoid this entirely.
What is a Roth conversion?
A Roth conversion moves pre-tax money (Traditional 401(k)/IRA) into a Roth IRA. You pay income taxes on the converted amount now, but future growth and withdrawals are tax-free. An advisor can help you determine if it's right for your situation.
Timelines & Process
How long does a rollover take?
Most direct rollovers complete in 5–15 business days depending on your plan administrator. TIAA and some smaller plans can take longer. Your advisor tracks the process from start to finish.
Can I roll multiple old 401(k)s into one IRA?
Yes — you can consolidate as many old accounts as you have into a single IRA. There is no limit on how many rollovers you can do in this way.
Can I roll my 401(k) if I still work at the company?
Usually not until you leave, but some plans allow "in-service" rollovers at age 59½. Your advisor will check your plan's specific rules.
Account Types
Can I roll a 403(b) into an IRA?
Yes. A 403(b) — common for teachers, nurses, and nonprofit workers — can be rolled into a Traditional or Roth IRA. Some plans have surrender charges on annuity products, so your advisor will check before initiating.
Can I roll a government 457(b) into an IRA?
Yes — governmental 457(b) plans can be rolled into a Traditional IRA, Roth IRA, 401(k), or 403(b). And unlike 401(k)s, there is no 10% early withdrawal penalty for 457(b) distributions at any age.
Should I roll over my TSP (federal/military plan)?
The TSP has extremely low fees, so rolling out is not always optimal. But it can make sense if you want more investment options, Roth conversion access, or simpler estate planning. Your advisor will model both scenarios.