How do I move my 401(k) to a Rollover IRA?

Request a direct rollover through your former plan administrator to Heritage Credit Union to avoid tax withholding. Our team can help coordinate the transfer for a smooth process.

Can I roll multiple accounts into one Rollover IRA?

Yes. You can consolidate multiple employer plans and prior IRAs into a single Rollover IRA to simplify tracking and portfolio management.

Will I be taxed when I roll over?

If you choose a direct rollover (plan-to-plan transfer), you generally won't incur taxes. Indirect rollovers must be completed within 60 days to avoid taxes and penalties.

Rollover IRA | Consolidate Retirement Accounts

Q: What is a Rollover IRA?

A Rollover IRA is an Individual Retirement Account designed to receive funds from employer-sponsored plans (for example 401(k) or 403(b)) so you can keep retirement savings tax-deferred and manage investments in one place.

What is a Rollover IRA?

A Rollover Individual Retirement Account (IRA) allows you to transfer funds from employer-sponsored retirement plans — such as 401(k), 403(b), or governmental plans — into an individual IRA without triggering immediate taxes. The process keeps your retirement savings tax-deferred while providing broader investment options and simplified account management.

Why roll over to a Rollover IRA at Heritage Credit Union?

Keep Your Savings Tax-Deferred

Choosing a direct rollover preserves the tax-deferred status of your retirement funds so you don’t pay taxes when transferring your money. That keeps your savings working for you longer.

Consolidate and Simplify

Combine multiple employer plans into one Rollover IRA to reduce administrative complexity, lower fees, and make monitoring easier from a single online dashboard.

Key Features of Our Rollover IRA

Direct Rollovers

We strongly recommend direct rollovers (plan-to-plan transfers) to avoid withholding and preserve tax benefits — our specialists help you request the transfer.

Wide Investment Choices

Access a broader set of investment options — mutual funds, ETFs, CDs, bonds, and professionally managed portfolios tailored to your risk tolerance and time horizon.

Transparent Fees & Statements

Clear account statements and low, transparent fees help you keep more of your retirement growth. We provide annual and transaction-level reporting for tax and planning needs.

Advisor Guidance

Work with our retirement specialists to design a rollover strategy aligned to your long-term goals, whether you seek conservative income or growth-focused outcomes.

Online Account Management

Open, track, and manage your Rollover IRA entirely online. Access statements, tax documents, and performance reports from your secure member portal.

Security & Compliance

We follow industry best practices — encryption, multi-factor authentication, and regulatory compliance — to protect your retirement assets.

How the Rollover Process Works

Open a Rollover IRA online or with a Heritage Credit Union specialist.
Request a direct rollover from your prior plan administrator (we can assist with the paperwork).
Funds transfer — your money moves directly into the Rollover IRA (no tax withholding for direct rollovers).
Invest and manage — choose investments or opt for advisor-managed portfolios; track everything in your online dashboard.

Common Questions & Considerations

Here are a few things to keep in mind when rolling over retirement funds:

Direct vs Indirect Rollovers: Direct rollovers are recommended. Indirect rollovers require you to deposit funds within 60 days to avoid taxes.
Roth Conversions: Rolling a pre-tax employer plan into a Roth IRA triggers taxable income—speak with a tax advisor before converting.
Required Minimum Distributions (RMDs): Rules differ by account type and age; our advisors can explain how rollovers affect RMD timing.

Rollover Individual Retirement Account (IRA)

Rollover IRA — Consolidate & Simplify Your Retirement