What to expect when rolling over an old retirement account from a former employer to your investment account at SEI Private Trust
First, it is important to consider your options. Take a moment to decide if rolling over your account is right for you.
Taking the Next Step
Follow the instructions below to begin the rollover process. (Note - Before starting, make sure your new or existing IRA account is opened and ready for funding. Also, be sure the account you are rolling over has your current name and updated contact information - The rollover process may be delayed if the account has old information tied to it. Ex: legal last name, old mailing address, etc.)
To Begin:
Step One: Reach out to your provider.
Contact your old investment provider by calling the 800 number listed on the first page of your old retirement account statement. Let the Rep know that you are looking to rollover your old account to an IRA you have established with your financial advisor at SEI Private Trust.
Step Two: Request the Rollover
The Rep will be able to advise you on whether they can accept your rollover request over the phone, or whether they require additional paperwork to be completed to initiate the request.
If they are able to initiate the request over the phone, you will need the following information handy:
Where to send your rollover funds?
Mail to:
SEI Private Trust Company Attention: Advisor Network (Redwood)
P.O. Box 1098 Oaks, PA 19456-9907
SEI Account Number: This can be obtained online through the SEI Connect Client Portal. Reach out to Erin Daugherty (support@sterlingedgefinancial.com) for help obtaining your account number. It is extremely important that your account number is listed on your check to SEI.
Most providers will send your rollover check to SEI directly, however in some cases, they will mail the funds directly to you for deposit to SEI. If the check will be sent to your home address, please let us know immediately by reaching out to Erin Daugherty at the email listed above. Once the check is issued, you have 60 days to deposit the funds into your IRA account at SEI before it becomes a taxable distribution. We ask that you send us a copy of the check with your account number listed on it before mailing it to SEI at the address listed above. We will let SEI know the funds are coming by completing a back-end form with your information and check amount.
Step Three: Monitor your Account for the Deposit
The rollover process, depending on how complicated, can take up to 45 business days to complete. We will monitor your account for the deposit of your funds and let you know once we see the rollover settle in your account.
What happens if additional paperwork is needed to initiate the rollover?
If additional paperwork is needed to initiate the rollover, you will need to request and complete prior to any rollover distribution taking place.
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Let's face it. This process can be overwhelming, especially when additional paperwork is needed. Some companies will ask for you to have your old employer sign off on the paperwork, while others request that you or your spouse's signatures be notarized or signature guaranteed. Other times, a signed Letter of Acceptance is needed. It can be confusing. Let us help.
Our Operations Specialist, Erin Daugherty will be happy to help with the entire rollover process - everything from making the initial call to your old provider with you to preparing any required paperwork for your signature. Feel free to reach out by phone, email or text (see contact information below) to get started today.
Erin Daugherty, Operations
Main: (312) 858-8934 x 103
Direct: (312) 585-8666
Email: support@sterlingedgefinancial.com
Secure Texting Line: (312) 471-9693