For each account that you're rolling over, there is a two-step process:
- Create Your Rollover Request: In your saver portal, provide details about the funds you want to roll over to your account.
- Note: Once you've created and submitted your request, you will receive instructions on how your previous provider can send the funds to us. Required account information to include on your check/ACH/wire will be TPA 000429 (07 Account Number).
- Initiate Rollover With Your Previous Provider: Let your prior provider know to send your funds to us.
Create Your Rollover Request
- To get started, log in to your account.
- Select Rollover Into Account from the "Withdrawals and Rollovers" drop-down. Then, select Start Rollover Request.
- Note: You will need to complete an online request for each account from the providing company. If you have assets at multiple companies, you will need to complete a request for each company. If you have both pre-tax and Roth assets from the same provider, you will also need to complete a separate submission for each.
- Enter the account type, retirement provider, and type of funds you are rolling over.
- Account Type: 401K, IRA (pre-tax only), 403(b), 457(b)
- Previous Retirement Account Provider: The name of the financial institution holding your pre-tax or Roth funds (the assets you wish to transfer into your account).
- Type of Funds Your Account Contains: Pre-tax or Roth
- If you have a Roth account, you will need to indicate the first date of your contribution to the Roth account, as well as the cost-basis of your Roth funds. Cost-basis is the original dollar value amount you contributed to the account, not including the gains or losses. The trustee company that currently holds your account should have this information.
- Amount you will be rolling over: Your current balance is generally a good estimate for your rollover amount.
- Acknowledge the terms and conditions of the request to complete your submission.
- You will then be directed to the “Contributions and Rollovers” tab in your “My Account” page. Under “Activities,” you can view your pending rollover contributions.
Initiate Rollover With Your Previous Provider
Let your previous provider know how and when they can send funds to us. We accept funds via check, ACH, or wire. Navigate through the different tabs to find detailed instructions for the delivery method selected. Then, select OK.
Checks should be formatted as follows:
Standard Mailing Address:
Matrix Trust (DEN)
Attn: TPA 000429
P.O. Box 3595
New York, NY 10008-3595
Payable to:
Matrix Trust Company
FBO (Participant Name)
Memo:
TPA 000429 (07 Account Number)
Note: The overnight mailing address will be available in your portal.
If you have already received a check from your previous provider, please complete the steps above. You will be required to include account numbers TPA 000429 (07 Account Number) in the memo of your check if it is not already included. Your 07 Account Number will be available in the profile section of your saver portal and also provided after completing the rollover request form.
It is important to note checks typically need to be received by us within 60 days of being issued from your previous provider to avoid early withdrawal penalty taxes. You may want to consult with a tax professional with any questions or concerns that you have.
Letter of Acceptance
A Letter of Acceptance (LOA) will indicate to your current financial institution that we agree to accept your funds from your current retirement account and deposit them on your behalf. Once you complete a rollover request in the saver portal, your Letter of Acceptance will be generated and available for download. Your current provider may or may not require a Letter of Acceptance to release your funds for a transfer to us. Please check with your current financial institution for this information.
To download the Letter of Acceptance, navigate to the "My Account" page and open the "Contributions and Rollovers" tab. Then, click on a transaction in the “Activities” window. You will have the ability to choose Cancel Request or Download Letter of Acceptance.