Here is my experience.
Our 401k administrator would only issue a check. I supplied the name of the receiving broker (Fidelity), Fidelity account number(s) and Fidelity address that accepted checks. Fidelity had one address for US mail and a different address for overnight mail. I had the option to overnight the check, but just used US Mail option.
The 401k administrator had me open the rollover IRA at Fidelity and verify the address at Fidelity that would receive and deposit check. The money was only out of the market 3 business days. The check was made payable to Fidelity FBO Wiggums and included by Fidelity account number. FBO means for benefit of.
Our 401k administrator would only issue a check. I supplied the name of the receiving broker (Fidelity), Fidelity account number(s) and Fidelity address that accepted checks. Fidelity had one address for US mail and a different address for overnight mail. I had the option to overnight the check, but just used US Mail option.
The 401k administrator had me open the rollover IRA at Fidelity and verify the address at Fidelity that would receive and deposit check. The money was only out of the market 3 business days. The check was made payable to Fidelity FBO Wiggums and included by Fidelity account number. FBO means for benefit of.
Statistics: Posted by Wiggums — Sun Apr 21, 2024 12:22 am — Replies 10 — Views 1270