What is a Cash Out and What Should I Do If My Account is Cashed Out?

• Your total balance is less than $7,000.
• Your vested balance (the amount you own) is less than $1,000.

• Send you a check for the account balance.
• Roll over your balance into an Individual Retirement Account (IRA).

What to do:

• Check your email: When your account is cashed out, you should receive an email explaining the details, including where the money went (the email might have landed in your spam folder!).
• Contact your original provider: If you can't find the email, call the company that managed your 401(k) or 403(b) and ask where your funds were sent.

If Destination is a qualified employer-sponsored defined contribution plan:

Can I roll over funds from an IRA to a qualified employer-sponsored plan?

Yes, absolutely! If you have funds in an IRA and want to roll them over into a qualified employer-sponsored defined contribution plan (like a 401(k), 403(b), or 457 plan), we can help you with that process.

If the destination is an IRA account:

Can I transfer funds from an IRA to another IRA?

While we don't directly facilitate transfers between IRAs of the same type (e.g., Traditional IRA to Traditional IRA), there's a very efficient way to do this yourself called an ACATS transfer.

What is an ACATS transfer?

ACATS (Automated Customer Account Transfer Service) simplifies the process of moving your IRA to another IRA account. It allows your current provider (the "delivering firm") to electronically send the exact holdings to your new provider (the "receiving firm"), including the same number of shares and purchase prices.

How do I initiate an ACATS transfer?

To start an ACATS transfer, you'll need to contact the financial institution where you want to move your IRA (the receiving firm) and give them the necessary information about your current IRA account. They will then initiate the ACATS process.