How to Initiate a Rollover Request to Us With the Current Provider of the Account
Unfortunately, most providers have their own instructions, so we cannot provide them directly. However, to find these, search your provider's FAQs for terms such as "distribution" or "roll out funds." Alternatively, most providers may have a helpline or email you can contact for additional information.
Please be sure that the request to the provider for the account you wish to transfer to us includes the specifications that indicate how and where to send the assets (outlined in the online form and in the email confirmation that you will receive from us). While wire/ACH is the fastest method, it is not always supported. If asked, please indicate that your transfer will be a "direct rollover."
For each account you transfer to us, there is a two-step process:
- Submit Your Rollover Request: Provide details about the funds you want to roll over to your account.
- Notify Your Previous Provider: Let your prior provider know to send your funds to us.
Submit Your Rollover Request
- To get started, log in to your account.
- Select Rollover Into Account from the "Withdrawals and Rollovers" drop-down. Then, select Start Rollover Request.
- Note: You will need to complete an online request for each account from the providing company. If you have assets at multiple companies, you will need to complete a request for each company. If you have both pre-tax and Roth assets from the same provider, you will also need to complete a separate submission for each.
- Enter the account type, retirement provider, and type of funds your account contains.
- Account Type: 401K, IRA, 403(b), 457(b)
- Previous Retirement Account Provider: The name of the financial institution holding your pre-tax or Roth funds (the assets you wish to transfer into your account).
- Type of Funds Your Account Contains: Pre-tax or Roth
- If you have a Roth account, you will need to indicate the first date of your contribution to the Roth account, as well as the cost-basis of your Roth funds. Cost-basis is the original dollar value amount you contributed to the account, not including the gains or losses. The trustee company that currently holds your account should have this information.
- Amount you will be rolling over: Your current balance is generally a good estimate for your rollover amount.
- Acknowledge the terms and conditions of the request to complete your submission.
Note: Your request will only be valid for 90 days. If we do not receive your rollover funds within that time, the request will be closed, and you will need to submit a new request.
Notify Your Previous Provider
Let your previous provider know how and when they can send funds to us. We accept funds via check, ACH, or wire. Navigate through the different tabs to find detailed instructions for the delivery method selected. Then, select OK.
Checks should be formatted as follows:
Address:
Matrix Trust (DEN)
Attn: TPA 000429
P.O. Box 3595
New York, NY 10008-3595
Payable to:
Matrix Trust Company
FBO (Participant Name)
Memo:
TPA 000429 (07 Account Number)
You will then be directed to the “Contributions and Rollovers” tab in your “My Account” page. Under “Activities,” you can view your pending rollover contributions.
Note: If you have already received a check from the account provider, please complete the steps above, and we will let you know where to send the check. It is important to note checks typically need to be received by us within 60 days of being issued from your previous provider to avoid early withdrawal penalty taxes. You may want to consult with a tax professional with any questions or concerns that you have.
Letter of Acceptance
A Letter of Acceptance (LOA) will indicate to your current financial institution that we agree to accept your funds from your current retirement account and deposit them on your behalf. Once you complete a rollover request in the saver portal, your Letter of Acceptance will be generated and available for download. Your current provider may or may not require a Letter of Acceptance to release your funds for a transfer to us. Please check with your current financial institution for this information.
To download the Letter of Acceptance, navigate to the "My Account" page and open the "Contributions and Rollovers" tab. Then, click on a transaction in the “Activities” window. You will have the ability to choose Cancel Request or Download Letter of Acceptance.
How to Initiate a Rollover Request to Us With the Current Provider of the Account
Unfortunately, most providers have their own instructions, so we cannot provide them directly. However, to find these, search your provider's FAQs for terms such as "distribution" or "roll out funds." Alternatively, most providers may have a helpline or email you can contact for additional information.
Please be sure that the request to the provider for the account you wish to transfer to us includes the specifications that indicate how and where to send the assets (outlined in the online form and in the email confirmation that you will receive from us). While wire/ACH is the fastest method, it is not always supported. If asked, please indicate that your transfer will be a "direct rollover."