Author Topic: Rolling over 401k from Wells to Vanguard  (Read 2789 times)

Ankenystache

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Rolling over 401k from Wells to Vanguard
« on: March 19, 2016, 10:31:56 AM »
I have a question that maybe you guys can answer. I know I cannot split pre-tax and roth contributions during a rollover. I currently have my own IRA at vanguard, a traditional and a roth. I was contributing to the company match but now I have quit that job and am wondering.

-When I roll over my 401k to vanguard will I have to put it all in my traditional IRA brokerage account or will it be seperated into the Traditional and Roth?
-If it goes into the traditional how to do I keep track of Roth vs Traditional funds?

If you guys can help me on this it would be great, the overall amount in the 401k is $5329 ($4600 vested) ($2759 employee pretax, $937 employer match, $1286 from previous rollover, $346 roth)

Thanks again with all the help, if i still cannot figure it out I may have to call vanguard on monday, but I was wondering if anyone in a similar situation has done this before and can offer some insight.

Trip

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Re: Rolling over 401k from Wells to Vanguard
« Reply #1 on: March 19, 2016, 11:56:46 AM »
I was in a similar situation after my first job. I had a Roth IRA with Vanguard and a 401K with Fidelity. I opened up a new Traditional IRA with Vanguard, and had the Fidelity funds rolled into that.

Vanguard's website clearly labels your different accounts, so it is easy to see what you are holding in what type of account.

Hope this helps, and I'm happy to answer any additional questions.

seattlecyclone

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Re: Rolling over 401k from Wells to Vanguard
« Reply #2 on: March 19, 2016, 12:47:06 PM »
Wells Fargo should be able to send you two checks: one for the traditional funds and one for Roth. You'll then deposit one check into each type of IRA. Keep your statements from your 401(k), as well as W-2 forms and the 1099-R form(s) Wells Fargo will send you after the rollover to provide proof of how much was traditional vs. Roth in case you get audited.

Ankenystache

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Re: Rolling over 401k from Wells to Vanguard
« Reply #3 on: March 19, 2016, 01:04:09 PM »
From what I read on the IRS I can split the two up, thanks again guys it just wasn't making sense at the time. I plan on eventually rolling my traditional into a Roth but over a couple of years to help with the taxes.