If you have a 401k with a U.S. company but you currently reside overseas, then the process for rolling over that account may be slightly different than if you lived in the United States.
You’ll need a way to contact your 401k plan administrator, as well as the rollover provider. Most companies have a way to make international calls if you are unable to make outbound calls from your location.
Your 401k rollover forms can be sent to you via email, often pre-completed by your rollover adviser. You’ll need to print out the forms; this can be done at hotels, cyber cafes and airports, if you have no way to print the forms yourself.
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Retirement account providers usually need the original, signed forms to execute your rollover request. You can send your completed forms directly to the address given to you by your adviser, who may provide you with a way to pay for the shipping. You could also send the paperwork to someone you trust, but, either way, use a reputable delivery service that uses tracking numbers. In some cases, your retirement account custodian might allow you to fax, or scan and email, your 401k rollover paperwork.
After your 401k rollover has been approved, you’ll need to decide which investments to make. You can have a back-and-forth email session with your broker, or work out a way to speak with an adviser via telephone to save time. Once you decide to make a transaction, your retirement account custodian will need written and/or verbal proof of your decision.
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In the last 12 months, at least 6 IRA custodians have announced that they will not open new retirement accounts for U.S. investors who live overseas. These 401k rollover providers include:
● TD Ameritrade
● Morgan Stanley
● Merrill Lynch
To find a retirement account provider that can help you roll over a 401k while you’re overseas, visit 401k Rollover now. A 401k rollover adviser will contact you via email or by calling your U.S. or international phone number. Additionally, you can call (800) 767-1423 and speak with an adviser now.