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The most common rollover occurs when a 401(k) balance at a previous employer is rolled into an IRA in order to avoid tax consequences. A rollover is easy and can be done quickly by following these steps:

  1. Visit with a First PREMIER Banker to open your IRA account. If you have both pre-tax and Roth contributions, you should open both a Traditional and Roth IRA to preserve the associated tax benefits.
  2. Request the paperwork to begin your distribution from your former employer or plan administrator.
  3. Request your distribution check made payable to First PREMIER Bank with a notation of your name and IRA account number.

Contact us if you have questions or would like to discuss options for rolling over funds.

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