3 ms·
I’m not the OP, but when I left a company where I had a 401(k) and transferred the balance to my preferred brokerage, the source account was frozen for about th
by csnover 7y ago
I’m not the OP, but when I left a company where I had a 401(k) and transferred the balance to my preferred brokerage, the source account was frozen for about that long during the approval and transfer process.
- madengr 7y agoYes, and I assume they cut a check to your IRA?
- csnover 7y agoYes, but the longest part of the process was waiting for the 401(k) administrator to actually do that, and once I initiated the process I couldn’t make any changes. This was a while ago so I don’t remember the specific time frames, but it was somewhere between 10–15 business days for the 401(k) to show a zero balance, then 3–5 business days after that for the money to show up in my IRA. I had no control over when something would happen during this process.