Great questions!

A 401k rollover is initiated by the participant.  

Because there is no universal rollover form that applies for all providers, it is generally advisable that the participant go to the “holding” institution (the plan provider or TPA) and request distribution election paperwork from them —every institution has their own version of a rollover authorization.  

The only time there would be a “forced distribution” is when the account balance is less than $5,000 and the participant hasn’t made an election.  In that case the rollover would be initiated by the holding institution.

In other words:

  1. Please contact the institution holding the retirement assets.  They will be able to start the rollover process.  
  2. Open a support ticket for our 401k specialist to research and report back to you on how to move the assets to your new plan.  

AdvanStaff HR administers many, many plans and we want to make sure you get the correct info on completing your 401k rollover.