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Transfers and Rollovers

How do I transfer funds from another financial institution to my Capital One 360 IRA Plan?

To transfer retirement funds from another financial institution to your Capital One 360 IRA, you must use the Request for Trustee Transfer form Opens a new window.

  1. Sign in to capitalone360.com with your Username (Saver ID)/Customer Number and PIN
  2. Click on your IRA Plan
  3. Select the 'Forms' tab
  4. Click on the appropriate form
  5. Print, complete, and mail the form to us:

      Capital One 360 IRA Servicing
    P.O. Box 60
    St. Cloud, MN 56302

Please Note: Prior to initiating the transfer, please contact your current financial institution to see if they have any additional steps that you must take in order to authorize the transfer of your IRA to Capital One 360. Your current financial institution may take up to three weeks to send us the funds. Once we receive your funds, we'll send you a confirmation email.

How can I transfer funds from my Capital One 360 IRA Plan to another financial institution?

To transfer retirement funds from your Capital One 360 IRA to another financial institution, please obtain the Trustee Transfer Form from your other financial institution. Complete and mail us the form with your original signature to:

  Capital One 360 IRA Servicing
P.O. Box 60
St. Cloud, MN 56302

Please Note: The Trustee Transfer Form MUST be returned to us by mail with your original signature. Once we receive the Trustee Transfer Form from the other financial institution, we'll process the request in 2-3 business days.

How can I roll over funds from another financial institution to my Capital One 360 IRA Plan?

To directly roll over retirement funds from another financial institution into your Capital One 360 IRA, you must use the Request for Direct Rollover form Opens a new window. To indirectly roll over funds into your Capital One 360 IRA, use the IRA Deposit form Opens a new window.

  1. Sign in to capitalone360.com with your Username (Saver ID)/Customer Number and PIN
  2. Click on your IRA Plan
  3. Select the 'Forms' tab
  4. Click on the appropriate form
  5. Print, complete and return the form to us either way:

Fax: 1-866-464-2699
Mail: Capital One 360 IRA Servicing
P.O. Box 60
St. Cloud, MN 56302

Please note: If you're initiating a Trustee Transfer, the Request for Trustee Transfer form MUST be returned to us by mail with your original signature. Other institutions may take up to three weeks to send us the funds. Prior to initiating the rollover, please contact your current financial institution to see if they have any additional steps that you must take in order to authorize the rollover of your funds. To verify when the transfer is complete, sign in to capitalone360.com with your Username (Saver ID)/Customer Number and PIN.

If you're doing an indirect rollover, you can deposit the funds into your 360 Savings or external linked account, and fax us the form with directions to transfer the funds to your IRA. Or, you can mail the form to us with the check you received from your other institution. Rollovers are reported to the IRS as a distribution and are limited to once per year.

What is the difference between a direct and indirect rollover?

A direct rollover is the movement of funds from an employer-sponsored retirement plan directly to a Traditional IRA.

With an indirect rollover, you will take a distribution from an IRA or qualified retirement plan and then re-deposit the funds into another IRA within 60 days of the receipt of the assets. (The funds can even be rolled back into the same IRA.)

If I'm doing a direct rollover from another financial institution to Capital One 360, what amount should I enter on the form?

If you're going to roll over all of the funds, simply check the 'all' box to directly roll over the entire plan balance and close the plan at another financial institution. Otherwise, please specify the amount you wish to roll over. If you decide to rollover a portion, please consult with your tax advisor to determine whether tax or penalty will apply to the remaining funds.

For an indirect rollover, when does my 60-day rollover period begin?

Your 60-day rollover period starts on the date you receive your retirement funds from the other financial institution.

Keep in mind, if you're over age 70½ with a Traditional IRA, you must take your required minimum distribution prior to rolling over your funds to Capital One 360.

How can I roll over funds from my Capital One 360 IRA Plan to another financial institution?

To roll over retirement funds from your Capital One 360 IRA to another financial institution, contact Capital One 360 one of the following ways:

Email: ira@capitalone360.com
Phone: 1-877-955-8700
Mail: Capital One 360 IRA Servicing
P.O. Box 60
St. Cloud, MN 56302

Please Note: Rollovers are reported to the IRS as a distribution and are limited to once per year.

If rollovers can only be done once a year, is that a Calendar Year or every 365 days?

Rollovers can be done only once every 365 days (within one tax year). So, if you roll over funds in December 2008, you cannot do another rollover until the following December (2009).

How can I roll over funds from my 401(k) or Pension Plan to my Capital One 360 IRA?

In order to roll over funds from your 401(k) or Pension Plan, you must have an open Capital One 360 IRA Plan. If you already have an IRA Plan, do the following:

  1. Contact the administrator of your 401(k) or Pension Plan and complete their steps and forms for a Direct Rollover
  2. Have the administrator make the check they’ll be sending us with the funds from your Plan out to "Capital One 360, a division of Capital One, N.A. FBO "
  3. Have your administrator send the check to:

    Capital One 360, a division of Capital One, N.A.
    P.O. Box 60
    St. Cloud, MN 56302

Please Note: Your current financial institution may take up to three weeks to send us the funds. We will send you a confirmation email once we receive the funds.

Learn more about rolling over funds from a 401(k) or Pension Plan to a Capital One 360 IRA at RetireMyWay.com Opens a new window.

Can I transfer funds from a retirement plan at another institution into a Capital One 360 IRA?

Yes, after opening your Capital One 360 IRA, you may transfer or roll over retirement money from other qualified retirement plans and institutions.

Learn more about transferring funds into a Capital One 360 IRA at RetireMyWay.com Opens a new window.

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