Madison Trust Company Q&AAnswer
Jun 30, 2022 - 06:02 AM
You are correct in that the new asset can be added into your existing account. The rollover process (if it is a direct rollover) is initiated through the plan administrator of your other plan. This would be the process if the funds are coming from another 401k, 403b, 457a, etc. Each plan administrator will have their own requirements, some of which have their own form for the client to complete on their end. If this is the case, please reach out to your other plan’s administrator to begin the rollover process.
If the plan administrator requires a Letter of Acceptance from us, you can fill out the Letter of Acceptance Request form and upload it to our secure uploads portal.
If the account that you’re looking to rollover funds from is an IRA, you should complete our Transfer Authorization form and upload it to our secure uploads portal.
If you have any further questions, please feel free to schedule a call with one of our IRA Specialists.
Please note, Madison Trust is a passive custodian and therefore, does not give legal, tax, or financial advice. Please consult with your tax advisor before making any investment decisions.
