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  • A Direct Rollover into another Retirement Account has no tax consequences
  • Rollovers can be processed online through the "Distributions" tab of your account or by calling Principal's Client Contact Center 1-800-547-7754. Principal can mail rollover forms to you  (email or fax may also be an option)
  • All your money stays in one place, so it's easier to track as well as to know how much you have set aside for retirement

Stay with Principal (move the funds into an IRA - Individual Retirement Account)

  • No tax consequences (the money stays in an approved retirement vehicle, so you won't incur early withdrawal penalties or be issued a 1099)
  • Options to add money (up to annual IRA limits) 
  • Continued service from Principal Financial Group
  • Some fees may apply

Stay with Principal (leave the balance in the account, if no rollover action is taken the funds

automatically roll over $5,000 roll into a PRA - Personal Retirement Account)

  • No tax consequences (the money stays in an approved retirement vehicle, so you won't incur early withdrawal penalties or be issued a 1099)
  •  No option to add money to the account unless it's rolled into an IRA (see above)
  • Continued service from Principal Financial Group
  • Some fees may apply

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