The video above shows the step-by-step process to request a distribution or rollover from your 401(k) account online.
1. Go to Slavic401k.com and click “Sign In” on the top right hand side of the page.
2. Enter your user name and password.
3. Click on Withdrawal on the side bar menu, then click New Request. Select Distribution Request.
4. Review the distribution terms and conditions, then click I agree to the terms.
5. Confirm your personal information is correct and select the check box to confirm. Click Next.
6. Select the Distribution reason. To view a list of the types of 401(k) distributions, click “here” to see the different distribution types and qualifications. If you choose the Required Minimum Distribution option, please fill out the questionnaire. When finished, click Next.
7. Select how you want to distribute your money. Click the box to read and agree to the disclosure, click accept or acknowledge (depending on the distribution type selected). Please note, you must meet certain eligibility requirements depending on the option you choose and may be liable for taxes and/or penalties on the taxable portion of the distribution.
8. If you chose a “Rollover plus distribution combination”, fill out the amount you would like to receive as net or gross. The remainder payable will be paid through direct rollover. Click the box to confirm you have read and acknowledge the information and click next.
9. Fill out the payment information section and choose your preferred payment method as ACH or Check.
- If you choose ACH, select “Add bank account” and fill out your bank account details. You’ll be then prompted to fill out a secondary payment method in the event your ACH fails. Please note, some small or regional banks may not authenticate ACH such as Venmo, CashApp, and smaller institutional banks.
- If you choose check, select the mailing method for either standard or Express Mail. Checks can take an additional 7-10 days for standard mail delivery.
10. If you choose to rollover your distribution to an existing IRA account or other qualified plan 401(k), 410(b) or 457, please select add retirement account. You will then be prompted to elect where you would like to have your rollover check mailed, either to yourself or to the rollover company. Followed will be questions related to how the check is made payable.
- The section labeled “Attention to (If applicable)” is related to a representative expecting an arrival of your check and would like their name printed on the envelope. This is optional.
- Enter your financial institution name and then include your personal account number for your pretax and/or Roth institution in which you are rolling over to.
- Next, enter your financial institution’s address that should expect to receive the check.
- If your check is to be made payable to “Payee” and is the same as the financial institution name, then choose “Yes”. If the payee is different than the financial institution name, choose “No” and follow the prompts.
Incorrect information will delay processing time. Once finished click Next.
11. After you submit your payment instructions, you will be asked to verify if you have an outstanding 401(k) loan. Please select your answer then click Review. If you choose yes, please follow the prompts.
12. If you chose a disability distribution, please upload the supporting required documents and click Review.
13. Review all your personal information and distribution details. If correct, select the check box at the bottom to acknowledge you have read and understand the terms and conditions. You can also opt to receive your 1099-R form via online download by selecting the check box. 1099-Rs are generated at the end of January the following year from which your request was traded. Click submit application to continue.
You’re finished!
Please remember: it takes 7-10 business days to complete the distribution process. In addition to the processing time, please allow 1 to 3 business days to receive the funds by ACH, 1 to 2 business days for checks sent FedEx overnight delivery, and 7 to 10 business days for checks sent by a first-class mail.
