Rolling over a 401(k) held at Vanguard
If your old employer's plan is administered by Vanguard, they are the ones holding your balance, your statements and the rollover paperwork — not the company you used to work for. Calling your former employer first is the most common way people lose a week.
Department of Labor filings for plan year 2024 show Vanguard keeping the records for 213 large 401(k) plans, holding 989,805 former employees who no longer work there but still have money in the plan.
What to ask for, word for word
Ask for a direct rollover, also called a trustee-to-trustee transfer. The phrase matters. If the check is made payable to you instead of to the receiving custodian, the plan withholds 20% and you have 60 days to replace it out of pocket or the whole amount becomes taxable income.
Open the receiving account first. You will be asked for its name and account number on the call.
Employers whose plans Vanguard keeps
The largest ones in the public filings. Each links to what the record says about that plan.
- FedEx — 109,905 former employees
- CVS Health — 65,740 former employees
- Kaiser Foundation Health Plan — 58,925 former employees
- Google — 41,077 former employees
- State Farm Mutual Automobile Insurance — 26,834 former employees
- Leidos — 21,606 former employees
- Wpp Group — 21,509 former employees
- Geico — 18,487 former employees
- Cox Enterprises — 17,648 former employees
- Cargill — 16,382 former employees
- HSBC North America — 13,223 former employees
- Science Applications International — 12,985 former employees
Frequently asked questions
How do I roll over a 401(k) held at Vanguard?
Call Vanguard and ask for a direct rollover, sometimes called a trustee-to-trustee transfer. You will need the receiving account's name and account number, so open the new IRA first. Ask that the check be made payable to the new custodian for your benefit, never to you personally: that one detail is the difference between a tax-free transfer and a taxable distribution.
Will Vanguard charge me to move my money out?
Some plans charge a distribution or processing fee, typically $25 to $75, and it comes out of the balance. Ask before you start, and ask in writing. The fee is set by the plan, not by Vanguard alone, so two employers using the same recordkeeper can charge different amounts.
How long does it take?
Usually two to four weeks from the day the paperwork is complete. Most delays come from a missing signature or a spousal consent form, not from the transfer itself. If a check is mailed to you rather than sent directly, the 60-day clock starts the day you receive it.
Can the money go into physical gold?
Yes, once you no longer work for that employer. The receiving account has to be a self-directed IRA whose custodian allows precious metals, and the metal must be stored at an IRS-approved depository. Done as a direct rollover there is no tax and no penalty at any age.
The Gold IRA, explained honestly.
Every fee in plain numbers, the IRS rules in plain English, and the red flags that tell you a dealer is not being straight with you.
Send me the free kitHeritage Gold Partners is not affiliated with, endorsed by, or connected to Vanguard. The name appears here only to identify the recordkeeper named in public Department of Labor filings. Figures are from plan year 2024 and may have changed since. Educational only, not investment, tax, or legal advice.