Mastering the Art of Writing Checks for Rollover into Fidelity- A Comprehensive Guide

How to Write Checks for Rollover into Fidelity

Rollover IRAs into Fidelity can be a straightforward process, but it’s important to ensure that you fill out the check correctly to avoid any delays or complications. Writing a check for a rollover into Fidelity involves a few key steps to ensure that your funds are transferred accurately and efficiently. Here’s a guide on how to write a check for rollover into Fidelity.

1. Obtain the Correct Check Format

Before you begin, make sure you have the correct check format. Fidelity provides specific check templates for rollovers, which you can download from their website. These checks are designed to ensure that your rollover is processed smoothly.

2. Fill in the Required Information

Once you have the check, fill in the following information:

– Payee: Write “Fidelity” as the payee. It’s important to use the full name “Fidelity” and not just “Fidelity Investments” or any other variation.
– Account Number: Fidelity will provide you with a specific account number for your rollover. Write this number in the “Account Number” field on the check.
– Amount: Clearly write the amount you are rolling over in both numerals and words. For example, if you are rolling over $10,000, write “Ten Thousand and 00/100” and then “10,000.00” in numerals.
– Memo Line: Include a memo line that states “Rollover IRA” or “IRA Rollover” to indicate the purpose of the check.

3. Sign the Check

After filling in all the required information, sign the check in the presence of a notary public if your financial institution requires it. This step ensures that the check is legitimate and helps prevent fraud.

4. Submit the Check to Your Financial Institution

Once the check is signed, submit it to your financial institution. Your financial institution will then send the check to Fidelity for processing. Be sure to keep a copy of the check for your records.

5. Monitor the Rollover Process

After submitting the check, monitor the rollover process. Fidelity will typically process the rollover within a few business days. You can check the status of your rollover by logging into your Fidelity account or contacting their customer service.

By following these steps, you can ensure that your rollover into Fidelity is completed accurately and efficiently. Always double-check the information on the check before submitting it to avoid any potential issues. Happy rollover!