Rolling Over/Transferring Old Accounts

Can I rollover or transfer old retirement accounts into my Rocket Dollar Self-Directed Solo 401(k)? Where do Traditional and Roth Rollovers go?

Using Rocket Dollar's preferred banking partner, you can open an account for Traditional (pre-tax) dollars and an account for Roth (post-tax) dollars. You can then roll over Traditional IRAs or transfer an old 401(k) from a previous employer.

Sign up, complete, and sign your paperwork

What bank should I use?

  • We have a preferred banking partner. Our Support team will introduce them to you during account fulfillment. This is to ensure that you have a robust customer experience from start to finish, as our preferred partner is highly familiar with the self-directed account structure.

Where do Traditional and Roth Rollovers go?

  • At Rocket Dollar's preferred banking partner, you can open two trust bank accounts: One for Traditional (pre-tax) dollars and one for Roth (after-tax) dollars.
  • If you plan on making both Traditional and Roth contributions, you should open both accounts! MAKE SURE to name them correctly, and that you do not commingle Traditional and Roth dollars!
  • If you plan on making Roth conversions, you should open a third trust bank account for pre-tax conversions.

Solo 401(k) Funding-3

Why are 401(k) rollovers slower and antiquated? Is there anything else to keep in mind while doing them?

  • You usually need to have left a job to make a rollover, but check if your current work plan has in-service distributions.
  • Sometimes your old HR department or boss might have to give you a 401(k) distribution form, which you will need to sign and complete. This may be needed so the company approving the rollover can verify it is going to the right person.
  • Many 401(k)s still write physical checks in your name and mail them between providers. MAKE SURE that the check is made out to the correct trust/plan document name of your Rocket Dollar solo 401(k)
  • Most employer 401(k)s are tied to a business, aka the retirement plan sponsor. The plan sponsor is technically writing the check (your record-keeper will help you do this) which is much slower than an IRA-to-IRA transfer. More moving pieces make it slower to process certain 401(k)-related transactions.

Read more about our Self-Directed Solo 401(k)