The Rollover Process is as easy as 1, 2, 3!
1. Sign an Automatic Rollover Services Agreement
Our Automatic Rollover services begin with providing an Automatic Rollover Services Agreement to the plan sponsor.
2. We Collect Participant Information
We will discuss with the plan sponsor and record keeper the best method for sending us participant information. The Automatic Rollover Portal is available for quick, easy and secure transmission of your participant data. We can also accept a simple Excel spreadsheet. Our file format titled Millennium EZ Rollover Format Sample Worksheet is available on our website as well as on the Automatic Rollover Portal.
Participant information includes the participant’s name, address, social security number, birth date, the dollar amount, and plan name. With this information, Millennium Trust automatically opens IRA accounts and populates the Adoption Agreement which is sent to the participant with the welcome kit.
3. Transfer of participant funds to Millennium Trust.
Millennium Trust prefers to receive account balances via wire transfer or ACH, but will accept check(s) also. The plan sponsor and/or TPA will receive confirmation when participant IRA accounts are opened and funded. For account funding instructions, click here.
It's simple, safe and efficient.