How long should it take for a 401(k) transfer?

[StressLess]

DH's old company was taken over just after he left. He keeps getting letters encouraging him to move his 401(k) money because they apparently want to get old the old employees' paperwork out of their hair.

Three weeks ago, we finally faxed up a form they provided, for transferring it to an IRA with ING Direct. We haven't heard a thing, no confirmation of receipt, but no notifications of any problems. The money still shows in his old account, and nothing has shown up in the new account.

I noticed that ING Direct has their own form for requesting the transfer from their end. So I'm getting that ready to go, too. ING Direct insists on getting the original form in the mail, having been notarized or the signature guaranteed. (The ex-employer didn't say anything about their form having to be mailed rather than faxed, but maybe that's the problem?)

I don't know if we're not allowing enough time, or whether they are dragging their heels at his old employer. We dread calling to bug them about it, because they can be very short and rude. We'll do it, but not before we have to!

Any advice?

[jIM_Ohio]

Do the transfer with all paperwork originating from ING and if they are good at it, once you fill out one form and make one phone call to confirm process, the rollover will take around 7-10 days.

I have done two rollovers with T Rowe Price. Took less than 7 days both times. One time there was a hangup where I needed a second form from Vanguard completed. Once that form was known, took 7 days (took T Rowe 2 days to tell me that form was needed for a special kind of rollover).

[creditcardfree]

I agree with Jim_Ohio, it should only take 7-10 days if all the paperwork was in order. If they didn't have the correct items, they should have notifiied you within that time frame.

I would also originate it from ING...they will be proactive with former employer...they do want your money invested with them so it gives them some motivation to keep checking on it.

[Tree0164]

Companies usually have a 30 day turn around time on these. They build in some "retention time" so they can keep the money in house.

Call the new company that you are transfering the money to and see if they will put in a status to call to your husband's old employer.

[cashing_in]

I believe if the paper works were all ok then it should take around 20-30 days.
I think by that time the rollover will be in effect.

cheers