How to transfer an account to an Envoy Choice IRA
The Participant may elect to transfer all or part of the account balance to an Envoy Choice IRA. (Distribution expenses from the Plan and the IRA setup expenses are waived.)
Upon completion of the Participant Separation from Service Checklist, follow the steps below:
- Forward the fully executed Separation from Service Retirement Plan Authorization Form to Envoy TPA and Recordkeeping, Inc. at PlanSponsor@EnvoyFinancial.com.
- Envoy will process the completed paperwork and move the Participant's account into their Envoy Choice IRA.
- A Form 1099-R will be mailed to the Participant within two weeks of the distribution. The IRA Rollover is a non-taxable event to the Participant.