Conversion Process

• 1). Contact the financial institutions holding your IRA and 401k, and request the necessary paperwork for withdrawing funds from each account.
  
  
• 2). Complete and sign the paperwork. Return the forms to the custodian of your IRA account and your 401k plan administrator. You will receive checks for the amount requested, less a mandatory 10 percent penalty assessment unless you are age 59 ½.
  
  
• 3). Deposit the checks into your checking or savings account, or convert them to cash by endorsing the back of each check and presenting a photo ID at your bank.