What exactly happens to your 401K once you leave EY?

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I left EY over a year ago and left it in the same account since it was performing better, after discussing with Fidelity. As long as it doesn’t affect independence, it shouldn’t matter if you leave it as be

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Most 401k plans give you 6 months to roll over your vested 401k balance into a new plan, otherwise it's subject to early withdrawal penalties (20% penalty on top of the normal fed/state income tax).

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@GT1 it’s a 10% penalty

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Depends on your next employer. You have to divert it somewhere. Check on the company who manages your next company’s 401k and see if you can make it a painless transfer.

Roll it over to a Fidelity account.

Up to you really. EY 1 is disqualified, since an EY 401k is already with Fidelity (or used to be). You can get a check from Fidelity and deposit with your new Employer’s 401k usually or have it paid out with tax penalties or roll it over into a Ross IRA or potentially ask Fidelity to move it from your EY 401k to your new employer’s 401k
provider. Quite likely you can transfer from Fidelity to Fidelity.

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