I have to rollover my previous Vanguard 401k to my current employer’s plan with Fidelity. Do I have to pay any taxes or penalties if we do that by getting a check from Vanguard and depositing to Fidelity?

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works at
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No taxes will be withheld from a direct rollover between qualified retirement plans.

Hope that helps!

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@OP: if the check *is* made out to you, call to have it Stopped and reissued to Fidelity
(I had to do this recently)

Get the paperwork you need from fidelity first. You may be able to call them and have them direct facilitate. You have a time window to cash the check - no issues if handled in 60-days, I think.

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Clarification - you don’t cash the check. It’s made to your end bank, but you have to do the paperwork for them to cash in that window.

I'm in the process right now

I'm receiving my check from previous employer and plan on sending to vanguard

My understanding is no tax implications as long as you specify that you are rolling over you're accounts from a qualified plan to another qualified plan.
In my case I'm moving funds from 401k to 401k

You'd have to ask if moving over to an IRA but I assume it'd be the same implications

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Just go on Fidelitys site for your current 401k and you will find step by step instructions

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Why wouldn't you roll it into a personal ira?

Non taxed portions would be subject to tax if this person wants to do backdoor Roth IRA down the line

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