Here is a step-by-step guide on how to deposit a 401(k) rollover check into a Vanguard IRA using the Vanguard mobile app:
- Open the Vanguard app and log in to your account.
- Click on the “Menu” icon in the top left corner.
- Click on “Mobile check” from the “My Transactions” section.
- Select the Account and Fund you want your check deposited into at the top of the Buy screen. Choose “Mobile check investment” for the From field, choose “Yes” for “Is this a rollover from an employer-sponsored plan”, and input the dollar amount of the check.
- On the back of your check, sign your name and write “For Electronic Deposit only at Vanguard”.
- Using the Vanguard app camera, take a photo of the front and back of your check. Be sure to take a clear picture of the check on a dark, flat surface, in a room with good lighting.
- Once the photos of our check are added, hit “Continue” and submit the deposit.
See screenshots below.
It may take a few days to process your request, so keep your check safe for about a week until you’ve confirmed your check has been successfully deposited.
It’s good practice to write “Mobile deposit” along with the date of deposit on the front of your check.
After the check clears and you see the funds in your account, keep the check in a safe place for a few more days to confirm there were no issues and then destroy it.
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