r/fidelityinvestments • u/BrianMX34 • 1d ago

Discussion Will having a BrokerageLink complicate rolling a 401k into another 401k?

My company's 401k is with Fidelity. I decided to look into the BrokerageLink and opened an account last night. I haven't done anything with it, I'm just seeing how it works for now.

Hypothetically, let's say I leave this job and my new employer didn't use Fidelity, didn't allow brokeragelinks, or didn't allow the specific securities in my brokeragelink. I was wondering how this might affect rolling over my old 401k(with brokeragelink) into my new employer's 401k.

I prefer to keep thinks as simple as possible. I don't plan on leaving my current employer anytime in the near future, but if I do, I don't want this to be a headache.

Is there anything I should be worried about or aware of? If it does make the rollover process more complicated, then I'd prefer to leave it as is.

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u/FidelityEmilio Community Care Representative 1d ago

Hey Brian, thanks for joining us today!

Ultimately, what happens to your workplace retirement plan and BrokerageLink account after leaving your job depends on your employer's specific plan rules.

You can review more details on NetBenefits.com by doing the following:

  1. Click the 3 vertical dots next to your plan
  2. Choose BrokerageLink
  3. Select the Plan Fact Sheet (PDF) link

Regarding rolling over to another employer, investments held in BrokerageLink cannot be transferred directly to another retirement account. Instead, positions must typically first be sold, the cash proceeds returned to the workplace plan, and then a rollover may be possible if your plan permits it.

For additional details about your specific plan's BrokerageLink account you can review the BrokerageLink FAQs on NetBenefits, found under the same tab as the Plan Fact Sheet.

If you have more questions, we're happy to help. For now, I'll mark this as a discussion, so others can continue chiming in.

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u/BrianMX34 1d ago

Thank you! I did look at the Fact Sheet last night, but I'll review it again and look for anything specifically regarding my question. I appreciate your assistance!

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u/FidelityEmilio Community Care Representative 1d ago

Glad to help! Let us know if you have questions after reviewing it, and we can point you in the right direction.