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#6
11-05-2004, 08:39 AM
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 Re: How to change 401K mutual funds held with Smith Barney? Linda Dorfmont wrote: - quote - > Find the new custodian first. Then ask the selected
Trust companies associated with no load mutual fund families> custodian to transfer the funds from SB to themselves. They > will have every motivation to process whatever paperwork is > necessary to make the change. It's going to be their account > now and they will get credit for it. SB will do whatever it > can to delay the transfer as you are now seeing. Custodians > are like that. provide this service. -- Frederick E. Jorden http://Tax-Accounting-Payroll.com 7825 Midlothian Tpk - 207 Richmond, VA 23235-5247 EMAIL knowtax[at]bigfoot.com (804) 320-6210 FAX (804) 320-6211 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#5
11-04-2004, 08:50 AM
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| Re: How to change 401K mutual funds held with Smith Barney? Find the new custodian first. Then ask the selected custodian to transfer the funds from SB to themselves. They will have every motivation to process whatever paperwork is necessary to make the change. It's going to be their account now and they will get credit for it. SB will do whatever it can to delay the transfer as you are now seeing. Custodians are like that. Linda Dorfmont E.A, CFP, CSA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#4
11-01-2004, 08:50 PM
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| Re: How to change 401K mutual funds held with Smith Barney? georgef wrote: - quote - > I have a self employed 401K held with Smith Barney. I have
Call the employee plan department at a good no load mutual> in it some Janus mutual funds that are not doing that well. > I would like to change them to another no load fund but SB > will only buy loaded funds as that is how they make their > money. They want me to buy American funds which have a 5.25% > front load. How can I change the fund and yet not get a 10% > withdrawal penalty and yet go to a no load fund too? fund company. E.g. Vanguard, T Rowe Price, Fidelity. They have personnel who can help you through a Rollover to a replacement 401k. -- Frederick E. Jorden http://Tax-Accounting-Payroll.com 7825 Midlothian Tpk - 207 Richmond, VA 23235-5247 EMAIL knowtax[at]bigfoot.com (804) 320-6210 FAX (804) 320-6211 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#3
11-01-2004, 08:31 PM
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| Re: How to change 401K mutual funds held with Smith Barney? georgef <gf[at]naturalproperties.com> wrote: - quote - > I have a self employed 401K held with Smith Barney. I have
If Smith Barney does not have the sort of funds you want> in it some Janus mutual funds that are not doing that well. > I would like to change them to another no load fund but SB > will only buy loaded funds as that is how they make their > money. They want me to buy American funds which have a 5.25% > front load. How can I change the fund and yet not get a 10% > withdrawal penalty and yet go to a no load fund too? then you need to find another self-401k plan andministrator, and contact the new administrator to arrange direct transfer from old to new. If the nature of your investment has some sort of 12(b)(1) or other back-end payment for backing out early, well, you'll have to eat that inside the 401k.. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
11-01-2004, 08:12 PM
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| Re: How to change 401K mutual funds held with Smith Barney? "georgef" <gf[at]naturalproperties.com> wrote: - quote - > I have a self employed 401K held with Smith Barney. I have
This is a tax forum, not an investment forum. Consult an> in it some Janus mutual funds that are not doing that well. > I would like to change them to another no load fund but SB > will only buy loaded funds as that is how they make their > money. They want me to buy American funds which have a 5.25% > front load. How can I change the fund and yet not get a 10% > withdrawal penalty and yet go to a no load fund too? investment professional. -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
11-01-2004, 08:12 PM
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| Re: How to change 401K mutual funds held with Smith Barney? gf[at]naturalproperties.com (georgef) writes: - quote - > I have a self employed 401K held with Smith Barney. I have
Change 401(k) custodians. Plenty of places (like Fidelity,> in it some Janus mutual funds that are not doing that well. > I would like to change them to another no load fund but SB > will only buy loaded funds as that is how they make their > money. They want me to buy American funds which have a 5.25% > front load. How can I change the fund and yet not get a 10% > withdrawal penalty and yet go to a no load fund too? for example) also do "solo" 401(k) plans. Just do a trustee-to-trustee transfer to the new custodian. I'm sure the new custodian will be more than happy to explain stuff to you and handle most of the paperwork. There shouldn't be any tax issues at all if it is done trustee-to-trustee. -- Rich Carreiro rlcarr[at]animato.arlington.ma.us << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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11-01-2004, 06:55 PM
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| Re: How to change 401K mutual funds held with Smith Barney? georgef wrote: - quote - > I have a self employed 401K held with Smith Barney. I have
Transfer your Plan to another broker?> in it some Janus mutual funds that are not doing that well. > I would like to change them to another no load fund but SB > will only buy loaded funds as that is how they make their > money. They want me to buy American funds which have a 5.25% > front load. How can I change the fund and yet not get a 10% > withdrawal penalty and yet go to a no load fund too? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
10-31-2004, 03:32 PM
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| How to change 401K mutual funds held with Smith Barney? I have a self employed 401K held with Smith Barney. I have in it some Janus mutual funds that are not doing that well. I would like to change them to another no load fund but SB will only buy loaded funds as that is how they make their money. They want me to buy American funds which have a 5.25% front load. How can I change the fund and yet not get a 10% withdrawal penalty and yet go to a no load fund too? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 401k, barney, change, funds, held, mutual, smith |
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