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re: What to do with 2 Old 401K accounts from previous employers
Posted on 4/22/24 at 1:58 pm to CHEDBALLZ
Posted on 4/22/24 at 1:58 pm to CHEDBALLZ
quote:
That's what I'm thinking I'll do. I have 1 with Fidelity and 1 with Alight, at minimum I'll roll the Alight into the Fidelity one. It earns better and has a better website to navigate
You can’t roll one 401k into another. You have to convert to an IRA account. Call forklift and tell them you want to move your funds to an IRA. Then call the other service and tell them you want to move to those funds to your new fidelity IRA. You will probably have to sign statements to treat that your are not moving the money to a non-retirement account. If you do that then you have to pay penalty and taxes.
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