My name is Kate and recently became self-employed,and I have a former employer 401k retirement plan at Fidelity Investments that I would like to transfer to my soon to be solo 401k with checkbook control
. Do you know what needs to be done to accomplish this transfer from Fidelity so that it will not result in taxes and penalties?
Good question. Once you establish the solo 401k with your solo 401k provider, the solo 401k provider can call Fidelity Investments with you to initiate the transfer over the phone.
The steps to initiate a trustee-to-trustee transfer (direct rollover) of your former employer plan at Fidelity to a Solo 401k Trust consist of the following:
A call will need to be placed with Fidelity (800-835-5095)
to request the transfer
. Here is the information that Fidelity generally asks when initiating a 401k transfer from a former employer 401k