Move Qualified Retirement Plan Proceeds into a Westcore IRA

To move a retirement plan to Westcore just follow the steps below. If you need assistance contact a Westcore Investor Service Representative at 800.392.CORE (2673).

Depending on your situation you may choose to roll all or a portion of your 401(k) or other qualified employer retirement plan (such as a 403(b) or 457 plan) proceeds into an Individual Retirement Arrangement (“IRA”) Account with Westcore.

These assets can be rolled directly into a Traditional IRA, but cannot be rolled directly into a Roth IRA because of tax implications.

Direct Rollover Details

To avoid mandatory federal income tax withholding, you must request a “Direct Rollover” from your current plan. In a Direct Rollover, the current plan makes the distribution check payable to your new IRA Custodian (in this case Westcore Funds) on your behalf.

To roll proceeds directly from a 401(k) or other qualified employer retirement plan into a Westcore IRA:

1) Read the Prospectus

Read the current Westcore Funds prospectus and Westcore IRA Information Booklet.

2) Complete an Application

Download and complete the Westcore IRA Application indicating in Section 2 that you will be making a Direct Rollover from an employer retirement plan.

3) Return the Application to Westcore

Return the IRA Application to Westcore Funds at the address below.

Westcore Funds
P.O. Box 44323
Denver, CO 80201-4323

4) Confirmation

Upon receipt of your completed application, we will mail to you a confirmation along with your new Westcore account number.

5) Initiating the Rollover

Contact your current plan administrator and request a direct rollover (be sure to provide them with your Westcore account number).

6) Confirmation of Receipt

Upon receipt of your retirement plan proceeds, Westcore will mail to you a confirmation of purchase.

Indirect Rollover Details

If you choose an “Indirect Rollover,” the distribution check from your current plan account is made payable to you less 20% mandatory withholding. This 20% mandatory withholding covers any income taxes due on this distribution at the end of the year. You may get a portion of this withholding back at the end of the year or you may owe more than was withheld. Within 60 days of receiving your distribution check, you must roll over the entire distribution amount – the amount of the check you receive plus the 20% that was withheld – into an IRA account. If the rollover is not completed properly within 60 days, taxes and penalties will apply.

To indirectly roll proceeds from a 401(k) or other qualified employer retirement plan into a Westcore IRA:

1) Read the Prospectus

Read the current Westcore Funds prospectus and Westcore IRA Information Booklet.

2) Request a Distribution

Contact your current plan administrator and request a distribution check be sent to you.

3) Complete an Application

Within 60 days of receiving your check, download and complete the Westcore IRA Application.

4) Return the Application to Westcore

Return the IRA Application with your investment check made payable to Westcore Funds to:

Westcore Funds
P.O. Box 44323
Denver, CO 80201-4323

5) Confirmation of Receipt

Upon receipt of your investment check and completed IRA application, Westcore will mail to you a confirmation of purchase.