Initiate your rollover with ADP
You’re making great progress. You’ve confirmed key details about your 401(k) plan and you have an IRA to transfer your money into. The next step is to initiate your rollover with ADP. ADP has three methods for requesting a rollover to another institution:
- online through your ADP account
- by filling out ADP’s rollover authorization form
- by calling ADP
Authorize via online process
Your plan may allow you to complete the rollover initiation process online. This can be a fast and convenient way to get your rollover started without having to mail any paperwork or making phone calls. You’ll want to confirm that your mailing and contact information on your account is correct so that your online submission is accurate. If you aren’t sure, you always have the option of initiating over the phone.
To start the online rollover initiation process, you’ll need to login to your ADP online account. Look for an option like “move assets”, “roll over money”, or “start a distribution”. These options can sometimes be hidden under an “actions” or “withdrawal” menu.
Ultimately, the option you want to select should explicitly say “rollover” and you’ll often need to specify that you want to move your funds “out of the plan” or “to another institution”.
Two other important tips to keep in mind while going through the online process:
- Opt for a direct rollover into an IRA at another institution — this is easier than an indirect rollover.
- You may be asked how much of your balance you want to roll over. It’s easier to do a full rollover so you don’t leave any money behind.
Authorize via Form
Rolling over via form allows you to avoid a human conversation but can sometimes get rejected which will prolong the process. If you’ve confirmed that your mailing address and contact information on your account is correct and that your plan is eligible for a rollover, initiating your rollover via form is worth considering. If you aren’t sure, you may want to initiate your rollover over the phone to avoid any issues during processing.
You can request the ADP rollover distribution form by calling ADP directly. Once you have the form, you’ll need to fill out, sign, and send it back to ADP by mail or fax. The mailing address and fax number can be found at the end of the form.