Transferring 401(k) assets from a former job into an IRA may require several steps, depending on the requirements of your retirement plan. Your first step should be to call your previous retirement plan administrator for details on how to proceed. You will probably need to follow one of these three scenarios:*

 

 

Scenario 1. Open an account and then obtain funds. Establish a Domini Funds IRA with zero funds by filling out an IRA application. Be sure to check the “Rollover IRA” box in part 3. Mail the form to us and wait for a confirmation by phone, which will include a number for your new account. If you do not receive a confirmation within 7 days, call us at 1-800-582-6757.

 

Give your new account number to your former plan administrator and ask for further instructions regarding the transfer of the funds. Your plan administrator will let you know if a check made out to “Domini Funds”** will be sent to you or directly to Domini. If the check is sent to Domini, you will receive a confirmation. If the check is sent to you, please send it to Domini with a completed Rollover Form. To avoid tax penalties, we must receive this check within 60 days of the date it was issued.

 

Scenario 2. Obtain funds and then open an account. Request a check from your plan administrator made out to “Domini Funds.”** If you will be depositing the check into a new Domini IRA, send the check to us along with your completed IRA Application. Be sure to check the “Rollover IRA” box in part 3 of the application. In this case you do not need to fill out a Rollover Form.

 

If you will be depositing the check into an existing Domini IRA, send the check to us along with your completed Rollover Form.

 

Scenario 3. Domini arranges your rollover. Fill out an IRA Application and Rollover Form and return them to us. We will then contact your plan administrator and arrange for the transfer. As long as we have all the required information, we will take care of everything else. When the transaction is complete you will receive a confirmation in the mail that the funds have been transferred to your new Domini IRA.

 

 

If you have any questions, please call our Investor Services Center at 1-800-582-6757, between 9 am and 5 pm ET, Monday through Friday.

 

 

* The above scenarios are only intended to serve as examples of the most common ways to roll over a 401(k) to a Domini Funds IRA. The procedures you will need to follow may vary based on the information you receive from your plan sponsor.

 

**Please note that it is important to transfer your assets directly from your employer plan account into your new IRA account.  If the money is paid to you first instead of your IRA, 20% of your assets will be withheld for federal income tax — even if you plan to open an IRA within the 60 days that the IRS requires.

 

Your personal financial situation may differ, or present exceptions to some of the rules outlined here. You may wish to consult a financial advisor. You may also want to read IRS Publication 590 “Individual Retirement Arrangements (IRAs)” available at www.irs.gov or by calling the IRS at

1-800-TAX-FORM (1-800-829-3676). All examples provided are for illustrative purposes only. If your company offers a SEP or SIMPLE retirement plan, call 1-800-582-6757 to ask how to add the Domini Social Equity Fund or Domini Social Bond Fund to your plan.