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Can I roll over my 401(k) account through Capital One ShareBuilder to my Vanguard Roth IRA, or into my Charles Schwab Workplace 401(k), even though they are different brokerages? 

At my previous employer, all contributions to employees' 401(k) accounts went into Capital One's ShareBuilder 401(k) account. At new company, our retirement savings go into a Charles Schwab workplace account. I have a Roth IRA account at Vanguard and at Schwab. I want to consolidate all of these accounts to keep them organized. Can I roll over my Capital One ShareBuilder 401(k) into my Vanguard Roth IRA or into my Charles Schwab Workplace 401(k)?

401(k), IRAs
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February 2018

You have a few options in regards to your old capital one 401(k). 

1) Roll into your new employers 401(k) plan. You would consider this if you liked the investment selection and the fees were lower relative to opening an IRA.

2) Roll into a traditional IRA. Given that your old 401(k) is pre-tax, you could roll it into a traditional IRA. This would maintain its tax-deferred status, and open up your investment selections. You also may pay less compared to your employers 401(k) investment expense ratios + administrative and recordkeeping costs (can be found in summary plan description). If you are in a lower tax bracket for the year, you may consider doing a Roth conversion. You'd pay taxes on the rollover amount from the traditional IRA to the Roth, however, you'd now be investing that money after-tax. Upon withdrawal (after 591/2), you wouldn't pay taxes as you would with a traditional IRA. 

The Roth IRA's could be consolidated at either Vanguard or Schwab, whichever platform you prefer. 


February 2018
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February 2018