Uncashed ChecksRolloverSaver's Simplified Solution
According to the Department of Labor, when a retirement plan issues a check to a participant and the check remains uncashed, the funds are still considered part of the plan. It is in the best interest of the plan fiduciaries to establish provisions in the plan documents and service agreements that provide specific procedures and timeframes for returning the funds to the plan. Rolling over uncashed check assets can preserve the tax-deferred status of the participants’ retirement account and potentially reduce the fiduciary risk to the partner.
- No minimum trade requirements
- Unlimited transactions
- Free risk assessment tool
- Access to free Morningstar data
- Statements, tax documents and filings
- 1099-R reporting
Participant Benefits
- Comprehensive and ongoing searches
- Mailing Notifications
- Automatic IRA account established
- Welcome letter sent to participants
- Rollover support services
- Participant Recordkeeping Website
- No minimum balances required