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The essential details clients always ask about.
What is a 401(k) rollover and how does it work?
A 401(k) rollover lets you move your retirement balance from an old employer’s plan into a new 401(k) or an IRA. You complete the request with your old provider, choose the account you want the money to go into, and the funds transfer directly without taxes or penalties.
Do I have to pay taxes when I roll over my 401(k)?
Not if you do a direct rollover. When the money moves straight from one plan to another, you avoid taxes. If you take the check yourself (indirect rollover), the IRS withholds 20%, and you only avoid tax if you redeposit the full amount within 60 days.
What’s the difference between a rollover and a transfer?
A rollover moves money between different account types (401(k) to IRA).
A transfer moves money between the same types of IRAs.
Most people confuse the terms, but both can be tax-free when done correctly.
How long does a 401(k) rollover take?
Most rollovers take 5–10 business days depending on the provider. Some are faster, but old employer plans often move slowly.
Can I roll over my 401(k) while still employed?
Sometimes. Some employers allow in-service rollovers, especially for plans held for several years. Others don’t. You need to check the plan rules.
What happens if I cash out my 401(k)?
You pay income taxes plus a 10% penalty if you're under 59½—unless you qualify for an exception. Cashing out reduces your long-term retirement savings significantly.
Is rolling over my 401(k) to an IRA a good idea?
Often yes. An IRA usually offers more investment options, lower fees, and more control than an old employer plan. But the best option depends on your goals and risk tolerance.
How do I choose the best place to roll over my 401(k)?
Compare providers by fees, investment choices, customer service, and whether you prefer a financial advisor or a self-directed platform. Look for transparency and long-term planning support.
What fees should I expect with a 401(k) rollover?
A rollover itself is usually free. The real costs are ongoing: advisory fees, fund fees, and account fees depending on the provider.
Can I roll over my old 401(k) into my new employer’s plan?
Yes, if your new employer accepts inbound rollovers. Some people prefer this to keep everything in one place.
At Rollover Solutions, we specialize in helping individuals protect their future with trusted 401(k) rollover and retirement insurance services. Our mission is to make retirement planning simple, secure, and stress-free, giving you peace of mind and confidence in your financial journey.