WealthRabbit Support

How do I rollover funds from my 401(k) to WealthRabbit?

Rolling over funds from your 401(k) to your WealthRabbit IRA is a straightforward process. Here's how you can do it:

1. Make Sure Your WealthRabbit IRA Is Open

Before you can transfer your 401(k) funds to WealthRabbit, you need to have an IRA (Individual Retirement Account) open with us. If you haven’t opened one yet, follow the instructions on WealthRabbit to get started.

• If your 401(k) is a Traditional 401(k), you'll need a Traditional IRA.

• If you have a Roth 401(k), you'll need a Roth IRA.

• If your 401(k) has both Traditional and Roth components, you'll need to open both a Traditional IRA and a Roth IRA.

2. Contact Your 401(k) Plan Administrator

Reach out to your 401(k) plan administrator (the company managing your 401(k) plan). You’ll need to let them know you want to transfer your funds to WealthRabbit. There are two main types of rollovers you can do:

• Direct Rollover: This is the easiest and safest way to rollover your 401(k). With a direct rollover, your 401(k) plan sends the funds directly to WealthRabbit without you having to touch the money. This way, you avoid any taxes or penalties.

• Indirect Rollover: If your 401(k) plan sends you a check instead of transferring the money directly to WealthRabbit, this is called an indirect rollover. In this case, you must deposit the full check (including any withheld amounts) into your WealthRabbit IRA within 60 days to avoid paying taxes or penalties.

3. Provide Rollover Details

When you contact your 401(k) plan administrator, make sure they have the necessary information to complete your rollover:

• WealthRabbit Account Number: Your WealthRabbit IRA account number.

• Account Type: Let them know if it’s a Traditional IRA or a Roth IRA.

If they send you a check, it should be made payable to:

• Apex Fintech Solutions (for WealthRabbit)

• FBO [Your Name] (FBO means "For the Benefit Of," indicating it’s for your account)

• You’ll need to mail the check to this address:
  Apex Fintech Solutions  
  ATTN: Banking Department  
  PO Box 133069  
  Dallas, TX 75313

Be sure to include your WealthRabbit Account Number and Account Type in the check or paperwork. Alternatively, you can request an electronic transfer (wire/ACH) if your 401(k) administrator supports this method.
 

4. Funds Posted to Your IRA

After the funds are transferred, they typically take about 5-15 business days to appear in your WealthRabbit IRA, depending on whether it's a direct transfer or a check. Once the funds are received, they will be automatically invested based on the portfolio you selected during the IRA setup. You will receive a notification once the transfer is complete and the funds are credited to your account.