BooBoo
Recycles dryer sheets
- Joined
- Oct 31, 2010
- Messages
- 91
Background: Already FIRED from mega corp and over 59.5
I started to transfer funds from mega corp 401K @ FIDO to Vanguard to consolidate funds. I called FIDO and they said I must have funds sent directly to me per mega corp rules. I would have preferred to do an direct transfer to Vanguard. During the process I saw an option to transfer to a IRA and went down that path. The only option is to a FIDO IRA ? I cancelled and started the path to withdraw funds. This time I was obligated to withhold taxes. I am planning on calling both FIDO and Vanguard today. All I wanted to do was a direct transfer from 401k to IRA without tax consequences. I realize I could open FIDO IRA and then transfer to Vanguard, an extra step that seems redundant. Any one deal with this before ? Your input is greatly appreciated.
Boo
I started to transfer funds from mega corp 401K @ FIDO to Vanguard to consolidate funds. I called FIDO and they said I must have funds sent directly to me per mega corp rules. I would have preferred to do an direct transfer to Vanguard. During the process I saw an option to transfer to a IRA and went down that path. The only option is to a FIDO IRA ? I cancelled and started the path to withdraw funds. This time I was obligated to withhold taxes. I am planning on calling both FIDO and Vanguard today. All I wanted to do was a direct transfer from 401k to IRA without tax consequences. I realize I could open FIDO IRA and then transfer to Vanguard, an extra step that seems redundant. Any one deal with this before ? Your input is greatly appreciated.
Boo