If you have another 401(k) or IRA, you may be able to transfer or rollover those funds into your OctaveWealth 401(k) account.
Rollover funds can only be accepted once you become eligible to participate in a OctaveWealth 401(k) plan, have made your first contribution, and are still an active employee of your company.
What accounts can I rollover from?
Rollover funds can be accepted from 401(k), 401(a), 403(b), 457(b), SEP IRA, SIMPLE IRA (must be after 2 years), and Traditional (pre-tax) IRA accounts.
Roth IRA assets cannot be transferred or rolled into a 401(k) account. See this IRS guide for more info.
How do I initiate an incoming rollover?
Contact the company that manages your previous retirement account to initiate a direct rollover to the custodian.
Please share with them the following information:
Make check payable to "Matrix Trust Company FBO [Your Name]".
Matrix Trust Company is the custodian or financial institution name.
Include "TPA 000417, [Account ID]" on the check.
You can find your Account ID displayed at the top your dashboard as Plan Account Number: [07CXXXXX]
Mail the check to your home address.
Once you receive the check, review it. If any of the above information is missing from the check, you can write it on the check.
This reduces the amount of back and forth that frequently happens.
Complete the incoming-rollover-form.pdf and email to [email protected]
You will need to provide the following information from your previous retirement account to OctaveWealth to ensure the proper allocation of your funds:
Account type (IRA, 401(k), 403b, 457b, defined benefit, etc.)
Pre-tax rollover amount (as applicable)
Roth rollover amount (as applicable)
Roth contribution start date: the date your previous Roth 401(k) contributions started
Roth contribution cost basis: the total contributions made to your previous Roth 401(k) without earnings
Mail the check to the custodian depending what service you use.
Regular USPS Mail:
Matrix Trust (DEN)
ATTN: TPA 000417
PO Box 3595
New York, NY 10008-3595
Overnight or Certified Mail:
JPMorgan Chase Lockbox Processing
ATTN: Matrix Trust (DEN) Lockbox 3595
4 Chase Metrotech Center, 7th Floor East
Brooklyn, NY 11245
Processing timeline
It typically takes about 7-10 business days for mail to reach the custodian if sent via regular mail.
Funds will be attributed to your OctaveWealth 401(k) account approximately 3-5 business days after receipt of your rollover check. The funds will appear in your dashboard under Contributions.
Please note, there may be delays in processing if specific information is not included and, therefore, must be verified. In cases where we cannot verify the information or when required information is missing or incorrect, the rollover check may be returned.
Important notes
Please do not send checks to any of OctaveWealth's business addresses. Rollover checks should only be sent to Matrix Trust Company at the address listed above to ensure timely processing. Checks sent to an alternative mailing address may experience longer processing times, as they will require rerouting to the correct department before processing can begin.
Rollovers into a 401(k) plan cannot be transferred via wire or ACH.
Please contact [email protected] if you believe your previous provider sent the rollover check to the wrong address or without the required information.