Employer plan rollovers
      Back to home
      1. Knowledge Base
      2. Unchained IRA
      3. Employer plan rollovers

      How long do employer plan rollovers take?

      Rolling over funds from an employer retirement plan into your Unchained IRA generally takes about 2 weeks.

      Unchained partners with Capitalize to facilitate employer plan rollovers. Using Capitalize will streamline many of the manual parts of the rollover process.

      What to Expect With Capitalize

      1. Initiation & plan discovery: 1-3 business days
        Capitalize will help you locate your plan and initiate contact with the custodian. Depending on how easy it is to find your plan and how complex your plan’s rules are, this step can vary in time.

      2. Roth conversion (if applicable): 0-2 business days
        You’ll be asked whether you want to convert your funds to Roth. If you don’t have an Unchained Roth IRA account yet and choose Roth, you’ll be prompted to open one. Opening a new account and confirming tax implications takes some processing.

      3. Check issuance: Depends on plan administrator, could be several business days
        Your plan administrator will issue a rollover check and mail it to you.

      4. Mailing via prepaid, trackable envelope: 2-5 business days
        Capitalize will provide you with a prepaid, trackable envelope to send the check to Fortis Bank. The tracking allows you to monitor transit time.

      5. Check processing & clearing: Up to 5 business days
        Once Fortis Bank receives the check, it may take up to 5 business days or more for the check to clear and for the funds to show in your Unchained IRA cash balance.

      Total: ~10-14 business days is common to complete an employer plan rollover.

      What Affects the Timeline

      • Employer plan custodian responsiveness — how quickly your old plan administrator processes your request. If possible, please ask your custodian to expedite the IRA rollover request.
      • Mail delivery time — checks being mailed (from plan administrator to you, then to Fortis Bank) take time. Postal delays or weekends/holidays can add delays.
      • Check settlement time — could take up to about 5 business days for the check to clear.

      Tip: Keep an eye on all communications from Unchained and Capitalize. We'll notify you of required actions. Sometimes, plan administrators require additional authorizations or verbal confirmations.

       

      Note: No contents of this post may be relied upon as tax, legal, or financial advice, as they have not been tailored to you and have not been reviewed by any attorney, financial advisor, or tax professional. For any questions related to your own specific situation, please consult with your own attorney, tax professional, and/or licensed financial advisor.