Retirement right-arrow How to rollover a 401(k) to Firstrade

How to rollover a 401(k) to Firstrade

Want to move a 401(k)? A Rollover IRA offers similar features as a traditional IRA and can help consolidate your retirement savings and potentially avoid tax penalties. Getting set up is a multi-step process and we are here to help you.

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Step 1: Open a Firstrade IRA

If you don't already have a rollover IRA, you'll need to open one in order to move money from your former employer's plan into your new account. If you have both pre-tax and post-tax contributions in your 401(k), you may also need to open a Roth IRA.

Which IRA should you consider for your rollover:

  • For a pre-tax plan: Open a Traditional or Rollover IRA account
  • For a post-tax plan: Open a Roth IRA account
OPEN AN IRA
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Step 2: Fund your account

Contact your plan provider and fill out their distribution form or initiate the process online. You may then request the transfer of your current retirement account funds using the following methods:

By Check/Direct Rollover:

Request to have a check issued and made payable to: "Firstrade Securities, Inc., FBO [YOUR NAME], [YOUR FIRSTRADE ACCOUNT NUMBER]"

Mailing Address:
Firstrade Securities Inc.
30-50 Whitestone Expwy.
Ste. A301
Flushing, NY 11354 Depending on your previous employer-sponsored retirement plan’s administrator, your funds can take anywhere from 5 to 20 business days to be deposited into your Firstrade IRA account.

By Wire/Direct Rollover:
  1. Request to have the funds wired into your Firstrade account
  2. Complete the IRA Deposit Slip/Adjustment Form and upload it online (login to your account, go to: Service > Form Center > Upload Document) or email a copy to service@firstrade.com
By Indirect Rollover:
  1. Request that the plan provider send you a check made payable to you.
  2. After the check is cleared in your bank account, you can fund your IRA account with your personal check. Have a check made out to "Firstrade Securities, Inc” and add your name and account number on the memo line. Mail the check to Firstrade along with the 401(k) administrator letter/plan statement.

Mailing Address:
Firstrade Securities Inc.
30-50 Whitestone Expwy.
Ste. A301
Flushing, NY 11354 Please note that the check amount should match the distribution amount from the plan administrator letter.

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Step 3: Build your portfolio

After your money is deposited in your IRA, the next step is to invest it so that it can start growing over time. Get access to a full suite of investment choices with over 11,000 mutual funds, as well as stocks ETFs, options, and bonds. Choose and manage your own investments with $0 commissions and fees.