Let us help you roll over your 401K, 403(b), or 457: Schedule time to speak with a M1 team member
Or follow these steps to begin your rollover:
This should be your first step if you don’t already have an open M1 IRA. The tax status of the assets within your employer plan will likely inform which type of IRA you open:
- Open a traditional IRA to maintain tax-deferred status of your pre-tax retirement plan assets
- Open a Roth IRA to preserve tax-free status of your Roth (post-tax) retirement plan assets
- If you’re rolling over both pre-tax and Roth assets, open a traditional and a Roth account
- If you’d like to roll your pre-tax assets into a Roth IRA, we recommend speaking to a tax professional since this is a taxable event
If you have questions about the tax status of your assets, contact your plan administrator or review your most recent account statement.
2. Initiate the rollover
Initiating a rollover typically requires you to complete a form that provides instructions on where you’d like your funds to be sent.
Your 401(k) provider may allow you to complete this form online on their website, often located under a section such as “Account Details,” “Withdrawals,” or “Rollover.”
If it is not the case, you’ll want to contact them directly via email or phone and state that you would like to initiate a rollover to your M1 IRA. While you are speaking with them, you can ask about the following:
- Specific rollover requirements: does the plan administrator require paperwork, a letter of acceptance, or a Medallion signature guarantee to rollover your funds? If you’re rolling over a 403(b) or 457, third party administrator (TPA) approval may be required.
- Account registration: does the name on your employer’s account match the name on your M1 account? A name mismatch may result in funds being sent back to the plan administrator.
- Check delivery: will the plan administrator send the rollover check directly to M1’s clearing firm, Apex Clearing, or to your home address? An option to have the check sent via certified mail or with tracking may also be available.
Your plan administrator’s contact information may be available on your account statement or paystubs. If it isn’t, we recommend contacting your previous employer to obtain that information.
3. Check delivery and deposit
You will need to provide the following information to your plan administrator when requesting your rollover check:
- Make the check payable to “Apex Clearing”
- Include your name and M1 IRA account number in the memo line
- Apex Clearing’s mailing address is:
Apex Clearing c/o BPO
350 North St. Paul Street #1300
Dallas, TX 75201
Ideally, your plan’s administrator will mail your rollover check directly to Apex Clearing.
However, if the check is sent directly to you, forward the check to Apex Clearing at the address above. If the check is made payable to you rather than Apex Clearing, please endorse the check prior to forwarding.
After the check is mailed to Apex Clearing, please allow 14 days for delivery before contacting us.
4. Prepare your M1 account for your rollover check
Once your check is received by Apex Clearing, it will be deposited into your M1 IRA. The funds will be invested into your Pie according to your auto-invest settings. Instructions on creating or editing your Pie can be found in our Help Center, and our team is available to answer additional questions you may have.
We also recommend visiting our Rollover FAQ article for additional information.