Shared 401k roll over into Fidelity?
Here’s a summary of the main problem and solutions discussed in the post:
- Main Problem: The user is confused about accessing their IRA after rolling over a business 401k into Fidelity, particularly regarding potential contribution limits and the classification of the account.
- Solution Suggested: Fidelity recommended that the user contact their Workplace team for assistance, specifically mentioning to say “401(k)” for proper routing.
This approach is aimed at resolving the user’s concerns regarding the rollover and account access.
Here’s the full thread
test
Any idea if a joint owner of a business 401k will have access to their IRA once it’s rolled over into Fidelity?
Also, could you please confirm that the fidelity ‘IRA’ option includes bringing over a 401k into Fidelity?
I don’t want to liquidate the 401k and then be told ‘oops contribution limit is 7k’ or whatever.
This is the concern: the 401k was opened as some kind of a ‘business’ account with two employees, my parents, at Invesco.
They’re now trying to bring the 401k into fidelity.
which is confusingly titled an ‘IRA’ in fidelity — an individual retirement account
it looks like it’s what fidelity calls a ‘self-employed’ 401k plan
Hi, @yomo.
Given the potential complexities of these scenarios, we suggest getting in touch with our Workplace team at the link below for assistance. If prompted, you can say “401(k)” to be routed correctly. The team is available Monday through Friday, 8:30 a.m. to midnight ET.
Contact Us: https://www.fidelity.com/customer-service/contact-us
If we can be of assistance in the future, please don’t hesitate to let us know. We’re happy to help where we can. 🟢
alrighty. thanks for the help!
You’re welcome! 🟢