Many brokerages participate in the ACATS system to transfer securities from one brokerage account to another.
If your current brokerage supports ACATS transfers, please use this form to initiate a transfer.
However, if your current brokerage does not participate in ACATS, please follow the instructions below:
This should be your first step if you don’t already have an open M1 IRA. The tax status of your current IRA will likely inform which type of IRA you open:
Open a Traditional IRA to maintain tax-deferred status of your current Traditional IRA
Open a Roth IRA to preserve tax-free status of your Roth IRA
If you’d like to send a check from your Traditional IRA 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 current brokerage or review your most recent account statement.
2. Initiate the transfer
Your current brokerage may allow you to complete the transfer request online on their website.
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 transfer to your M1 IRA. While you are speaking with them, you can ask about the following:
Specific transfer requirements: does the brokerage require a letter of acceptance, or a Medallion signature guarantee to transfer your funds?
Account registration: does the name on your current IRA 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 brokerage 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 current brokerage 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 current brokerage 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 M1.
4. Prepare your M1 IRA for your rollover check
Once your check is received by Apex Clearing, it will be deposited into your M1 IRA. The funds will automatically be invested if auto-invest is on in that account.
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.
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