Can i move my 401k to a different company or bank?

Answer by  worker76 (773)

Very simple to do. Call your current 401K rep and tell them you are interested in switching your money. You fill out a form and move to your new rep.

Answer by  frank (279)

Yes you can move the 401K to a different company only if you no longer work for the company that provides that particular 401K.

Answer by  x14 (26)

You can move your 401k to a different company or bank. However, you can only do it for certain reasons, like retirement or a new job, there are others too.

Answer by  tendervictuals (20)

Yes, you may move your 401k assets in what is called an IRA rollover. 401k assets may be moved only after you've left your current job.

Answer by  Steve82 (68)

Only if you are moving into another 401k will you not be taxed/fined. You can not put into a bank, that's considered early withdrawal, subjecting it to penalization.

Answer by  gamergirl24 (85)

You can only move your 401k to a different company or bank if you have terminated your employment with the employer that sponsors your 401k account.