Updated almost 5 years ago on . Most recent reply
How to convert 401k to self directed?
I have some money in a Fidelity 401k (and still adding to it)...how can I convert to a self-directed account? Any recommendations on brokers that can help? I've called Fidelity customer support and was told they couldn't help me/didn't know (as they don't do/have self-directed accounts). I'm still employed and contributing, so I can't withdrawal. I can't loan enough from it to invest, but if I can move it, there's enough.
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#2 1031 Exchanges Contributor
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#2 1031 Exchanges Contributor
- 1031 Exchange Qualified Intermediary
- San Diego, CA
Hi @Taylor L.,
You are still employed and most employer plans, especially larger employer plans, will not allow you to take distributions. However, some 401(k) Plans do allow an "in service" distribution. You will find that most HR departments do not know if their plans allow this and probably do not even know what it is. You will likely have to obtain a copy of your 401(k) Plan documents and review to see if an "in service" distribution is allows.
- Bill Exeter
