Questions to ask
What types of assets do I have in my employer plan account?
Knowing whether you have pre-tax or Roth (after-tax) assets will help you figure out what type of IRA (traditional, Roth, or both) you need to open at Vanguard. If you own company stock in your plan, that may add a layer of complexity to your rollover.
What name did I use on my employer plan account?
A common situation that can delay a rollover is when a check from the current financial institution is made payable to a name that doesn't match your Vanguard account registration. Examples include use of birth name versus married name, a missing suffix (Jr., Sr., etc.), differing middle initials (John A. Doe versus John J. Doe), etc.
What are your rollover requirements?
Each employer plan will have its own rollover requirements. Some may have their own paperwork for you to fill out, while others may require a Medallion signature guarantee or additional signatures that need to be notarized. Occasionally, the plan administrator may also have to sign off on the rollover.
Are e-signatures or faxed copies allowed?
Some plans allow e-signatures and copies of paperwork. Others may require original paperwork with your original signature.
Do you need a letter of acceptance (LOA)?
Plan administrators often require an LOA from the receiving institution. This letter indicates that the receiving institution—Vanguard in this case—will accept the assets. It also lets the plan administrator know where to send your money. You can generate an LOA during our online rollover process.
Is spousal consent required?
Some plans may require a spouse to provide their signature in order to move the assets to an IRA.
Will the rollover check be sent to me or to Vanguard?
We’ll accept a check from the plan or from you. Just make sure the appropriate mailing guidelines, covered in the next step, are followed to avoid any processing delays.
If the check is sent directly to you and you're already a Vanguard client with online access, consider using our mobile check investment service offered through the Vanguard app.
