401(k) Rollover to IRA

Call 800-351-4494 to Open an Account
or
Email to FISN

Introduction to 401(k) Rollover

Federally Insured Savings Network (FISN) is a specialist in the rollover of 401(k) assets to Individual Retirement Accounts or IRAs. FISN works with participants in 401(k) retirement plans who are making career moves or retiring. FISN offers the safe, high yielding investments for 401(k) rollovers to IRA accounts.

The Rollover Service provided by FISN will ease the rollover transfer, getting your money back to work fast. FISN specializes in Certificates of Deposit (CDs) which are ideally suited for conservative investors looking at the long term. The best nationwide CD rates for FDIC insured CDs are updated daily on the internet at www.fisn.com/rates.htm. FISN has no practical limit on deposit insurance in its network of banks issuing CDs, since we deal with hundreds of banks daily.

401(k) plan participants on the move should consider all the available options for redeployment of 401(k) retirement assets. The rollover goals are to protect the tax deferred status and to maximize retirement wealth while minimizing risks. Key decisions are how to transfer assets and to select a comfortable investment style.

The departing employee can remain in the existing 401(k) plan, cash out of the plan or move the funds to a new tax qualified investment vehicle. Generally, the first two options are not advantageous because of plan limitations, potential employer risks and tax treatment. The tax qualified choice with the most benefits to you is a Rollover IRA. Funds are transferred without taxation or penalty and allowed to grow without taxes until needed in retirement, or until the age of 70 1/2, when mandatory distributions are currently required to begin.

Retirement wealth is freed from corporate plan limitations when deployed in a Rollover IRA. The IRA plan offered by FISN puts the owner in charge, free to select from the widest range of investments including nearly every mutual fund, all stock markets and safe, fixed income investments. A FISN investment representative will work closely with each IRA owner to structure an Investment Plan. The IRA is actively managed in a consolidated, yet diversified account with the flexibility to reach your retirement goals. Many special features are available such as 24/7 viewing of your IRA account online and eligible distributions via check writing. Exceptional service, both in person and online, is the foundation of the FISN investment process.

FISN offers IRA accounts through its broker dealer, First Internet Securities Network. IRA accounts can hold Certificates of Deposit (CD) and most other securities sold by the broker dealer. Accounts can be opened either by completing the forms available here online and mailing them to FISN, or, by calling FISN at 800-351-4494 to request an IRA application package. First Internet Securities Network is a registered broker dealer. It uses The Premier Select IRA program developed by its back-office clearing firm, National Financial Services LLC (NFS), who is under contract to process securities and cash transactions, hold all investments and prepare all statements including confirmations and monthly statements. NFS is a Boston based Fidelity Investments™ company. NFS developed the Premier Select IRA program to handle all types of IRA plans including Traditional, Rollover, Roth and Beneficiary Designated Accounts. NFS has appointed Fidelity Management Trust Company as the bank custodian of all IRA assets.

 Rollover Service

1. To begin, read the IRA Application Instructions. It is only 3 pages: read it carefully. Pay particular attention to the Rollover instructions in the "IRA Contribution Information" section.

2. If there any detailed questions remaining, consult the Premier Select Brochures for the type of account you wish to open: Traditional IRA/Roth IRA, Rollover IRA & SEP-IRA Plan and the Custodial Agreements and Disclosure Statements. You will find everything you would need to know about IRAs including the Rollover IRA and Roth IRA in these brochures. For further information, call FISN at 800-351-4494 for the answer.

3. Complete the Premier Select IRA Application; the same application is used for all types of IRA plans. Answer all the questions carefully, particularly when designating Beneficiaries. Be sure to check the box for "Rollover" as the Type of Contribution. The Core Money Market Fund is the Fidelity Cash Management Funds - Daily Money Fund (FDAXX). The Prospectus is viewable online. Print, sign and date the Application on page 6. The Application can be filled out online or printed, then filled out with a pen after printing. Be sure to sign and date the Application on page 6.

4. Distributions are optional if you are 59 ½ or older and mandatory by April 1st in the year after your 70th & half birthday. Complete the IRA Distribution Request Form (Section 3, choice c) if necessary to calculate your Minimum Required Distribution (MRD) amount. One Time IRA Distributions Forms are available for subsequent use.

5. Rolling assets over from an employer-sponsored retirement plan to a Premiere Select Rollover IRA requires you to contact the employer’s Plan Administrator, usually the Human Resources Department. Ask for a plan Termination Distribution Form to begin the process of directing the transfer of the 401(k) assets to the FISN Rollover IRA.

Call FISN to help you complete the form. We will assign you a Rollover IRA Account Number into which the 401(k) assets will transfer. Complete the Termination Distribution Form and return it to your Plan Administrator.

IRA Rollover Distributions are made by check. Direct the Plan Administrator to make the check payable to National Financial Services LLC for the benefit of your IRA Account and account number. It can simply be written: NFS/FMTC Rollover IRA - FBO Your Name & Your Account Number. (Note: FISN will provide the Rollover IRA Account Number prior to your submission of the Termination Distribution Form to your Plan Administrator.)

6. Ask the Plan Administrator to mail the check to:

First Internet Securities Network
Attn: Rollover IRA Department
4800 Montgomery Lane, Suite 880
Bethesda, MD 20814

7. Mail the completed IRA Application and any other forms, including a copy of the most recent 401(k) statement to:

First Internet Securities Network
Attn: Rollover IRA Department
4800 Montgomery Lane, Suite 880
Bethesda, MD 20814

8. Call FISN at 1 800-351-4494 to let us know the application is coming; we will let you know when it arrives. Once everything is in order and the Distribution Check has been received at our offices, we will discuss your investment needs once more and begin the process of investment. You will receive monthly statements from National Financial beginning at the end of the first month and trade confirmations will be sent after each transaction.

All standard Premier Select IRA forms and instruction guides are listed below for reference and future use when necessary.

Link to IRA Forms page

FISN IRA Accounts