Start by setting up an IRA account with OpenInvest that is the same type as your existing retirement account (i.e. traditional or Roth). When asked how you’d like to fund your account, choose “Check” and enter a rough estimate of your 401k account value for the amount (or any amount if you’re not sure.) We’ll submit your application and open your new OpenInvest account. Please email firstname.lastname@example.org and let us know that you’ll be rolling over a retirement account so that we know to give you your account number, which you’ll need for the next step.
In the meantime, reach out to your 401k provider and let them know that you would like to initiate a rollover. Most likely, they will liquidate your holdings and cut a check for you. If you can, give them the following instructions for the check:
Check Payable To: Apex Clearing
Memo: FBO [Full Name] [Account Number]
If they allow you to input an address for the check’s destination, have them send it to Apex Clearing, the custodian who holds your account, at this address:
Apex Clearing Corporation
350 N St Paul Street, Ste 1300
Dallas, TX 75201
We often find that custodians will only send checks straight to you, the account holder. If that’s the case, you can mail the check you receive to the address shown above.Once we receive the check, we’ll invest your funds for you. The rollover will not count against your yearly contribution limits.