BancWest Investment Services Rollover IRAs

Roll over your former 401(k)1 or other employer-sponsored retirement plan into a rollover IRA to consolidate your assets.

Keeping Your Former 401(k) vs. Rolling It Over

Advantages Disadvantages
Roll over to BancWest Investment Services Personalized, ongoing support from a dedicated Financial Advisor with a BancWest Investment Services full-service account

Discounted pricing for online orders executed in your investment accounts when you have a Premier Checking account2

More investment choices than many 401(k) plans

Access to a broad range of mutual funds
No loans allowed

Generally, no penalty-free withdrawals before the age of 59 ½

Commissions and other trading related expenses apply
Leave assets in former employer's plan Investments are still tax-deferred

May be able to borrow against it (May have associated tax consequences)

May have penalty-free withdrawals if separated from service after age 55
Plans may have administrative fees for compliance or recordkeeping

Eligibility may expire

May have limited investment options
Roll over the assets into a new employer's plan Investments are still tax-deferred

May be able to borrow against it (May have associated tax consequences)

May have penalty-free withdrawals if separated from service after age 55
New plan may have administrative fees for compliance or recordkeeping

May have to liquidate investments

May have to wait until a year of service before being able to join

Not all employers have this option

May have limited investment options
Take a cash distribution Ability to access money immediately May have to pay State and local taxes

If under age 59 ½ will have a mandatory 20% withholding for federal taxes

If under age 59 ½ may have possible 10% penalty*

Investments are no longer tax-deferred

*Withdrawals before age 59½ may not be subject to a 10% additional federal tax if you separated from your former employer on or after age 55. Ordinary income tax will apply.

(Additional plan-specific withdrawal limitations may apply.)

Rollover IRA Benefits

  • Choice: Select from an array of investment options that may be significantly greater than those available through your former employer-sponsored plan, which may help you make the most of your money.
    If you are satisfied with your former employer's plan investment choices you may not derive a benefit from any additional investment choices available through a BancWest retirement account. You may also be subject to the specific risks and costs associated with such choices.
  • Value: Enjoy the opportunity to hold on to more of your money from the start by potentially saving on fees.3
    You should compare the different levels of fees and services available under your former employer's plan and a BancWest retirement account before making any rollover decision.
  • Convenience: Easily monitor your investments in one place.
  • Helpful tools and resources: Refine your retirement planning and make educated investing decisions with our Retirement Income Calculator, screeners for mutual funds and exchange-traded funds (ETFs), library of informative articles and more.
  • Experienced Retirement Consultants: Get guidance for your retirement planning. We’ll even help with paperwork and consult with your previous employer or plan administrator to ensure the rollover process goes smoothly.

When you’re ready to retire and receive distributions from your retirement account, BancWest Investment Services can help you set up a distribution plan that fits your needs. Rules governing withdrawals/rollovers from an employer's retirement plan are complex and involve limitations, restrictions and possible penalties.

Prior to deciding whether to maintain your assets in an employer sponsored retirement plan or to roll over these assets to an IRA please consider various factors including, but not limited to, investment options, fees and expenses, services, withdrawal penalties, potential protection from creditors and legal judgments, required minimum distributions and possession of employer stock. Please see the FINRA Investor Alert for additional information.

1If you are satisfied with your former employer's plan investment choices you may not derive a benefit from any additional investment choices available through a BancWest Investment Services retirement account. You may also be subject to the specific risks and costs associated with such choices.

2The consultation with a BancWest Investment Services financial professional is complimentary. Please note: The implementation of any recommendations provided during the consultation may result in trade commissions or other fees, charges or expenses. Any recommendations and guidance provided are limited to assets held at BancWest Investment Services.


* Deposit and loan products offered by Bank of the West. Member FDIC. Equal Housing Lender.

** Fifteen (15) $0 commission order executions for equities and Exchange-Traded Funds ("ETFs") per calendar month, per account ($6.95 order executions thereafter), for self-directed orders placed via the BancWest Investment Services online platform, subject to certain terms and conditions and additional fees (please refer to https://www.bankofthewest.com/personal-banking/investments/self-directed-investor.html for further details about self-directed investing available through BancWest Investment Services). If an order placed via the online platform is executed over multiple days, each day's executions for that order will be counted separately and applied against the remaining available $0 commission order executions available that month.

Online Preferred Pricing is only available to individuals with an active Premier Checking account. Individual Online Preferred Pricing eligibility is determined on a daily basis by BancWest Investment Services. Online Preferred Pricing does not apply to business/corporate accounts, investment club accounts, partnership accounts, limited liability accounts or certain fiduciary or custodial accounts. Please contact BancWest Investment Services for additional information.

Premier Checking recognizes your preferred customer status and rewards you with premium interest rates, waived fees and other benefits. Learn more or apply now. A Bank of the West Premier Checking account requires a minimum opening deposit of $500. The $30 monthly service charge will be waived for your first two (2) statement cycles and may be waived thereafter when you maintain at least $50,000 combined average monthly balance per statement cycle in this Bank of the West Premier Checking account plus other eligible personal Bank checking, money market, savings, CDs, and IRAs, and prior end-of-month account balances in eligible BancWest Investment Services investment accounts. Some accounts and services and the fees that apply to them vary from state to state. Standard deposit account fees apply. Relationship requirements and pricing are subject to change without notice.