How do I rollover my IRA with another provider into a Carry Solo 401k?

If you have a traditional IRA or Roth IRA with another provider that you want to rollover into a Carry Solo 401k Plan, there are two options you can take (the second option is easier).

Technically, going from an IRA to a solo 401k is considered a "reverse rollover" so we can't initiate it on our end.

You will need to contact your IRA provider directly and provide them with the check or wire instructions to get funds into your Solo 401K account.

To obtain the check or wire details you can do the following:

Click on your Solo 401K account

> Click Transfer or Withdraw

> Rollover to Carry

> Input the approximate amount that will be coming over

> Select the From Account type

> Select the destination account

> Continue

> Select wire or check and note the instructions to provide to your sending firm/custodian

> Continue

> Finish

Option #2 is the much simpler option since moving from one IRA provider to another is generally straightforward.

First you'd want to open the destination IRA account on the Carry website for your IRA funds to land in. 

Once that's open, click into the account 

> Transfer or Withdraw 

> Rollover to Carry

> Input the approximate amount you're moving over 

> Input the from account type and destination account type

> Continue

> Select Transfer method 

• If via ACAT input the account number, account name and firm name and upload an account statement

• If via Wire/Check notate the wire or check details to provide to your sending custodian

> Submit 

*If you're sending funds via wire or check, our custodian will need a transfer form to be filled out and the most recent account statement for the account you're sending funds from. 

You can send a chat via the messaging feature on the website or to support@carry.com so we can obtain your account statement and provide a transfer form for review and signature. 

We will notify you once the funds have landed in your Carry IRA.

Once the funds are in a Carry IRA, you can initiate a transfer of those funds to your Carry Solo 401K account. Here are the steps:

> Click into your Solo 401K account

> Transfer or Withdraw

> Transfer within Carry

> Input the amount or toggle 'Transfer full balance'

> Select the From account type on Carry

> Select the Solo 401K destination account

> Continue to complete the flow and submit