Merrill Lynch 401(k) Rollover: Complete Guide
How to roll over your Merrill Lynch (Bank of America) 401(k) to an IRA. Step-by-step process explained.
Key Takeaways
- 1Merrill Lynch is owned by Bank of America
- 2Rollover through benefits.ml.com or 1-800-228-4015
- 3Direct rollover avoids 20% withholding
- 4Can roll to Merrill Edge IRA or any other provider
- 5Process typically takes 7-10 business days
- 6Gold IRA provides diversification beyond Merrill funds
Merrill Lynch Retirement Plans
Merrill Lynch (part of Bank of America) administers retirement plans for many large employers. Their platform is accessible at benefits.ml.com.
- Part of Bank of America wealth management
- Serves large employer 401(k) and pension plans
- Account access: benefits.ml.com
- Phone support: 1-800-228-4015
- Both 401(k) and pension plan administration
Your Rollover Options
When leaving your employer, you can roll your Merrill Lynch 401(k) to various destinations.
| Option | Considerations |
|---|---|
| Merrill Edge IRA | Stay in Bank of America ecosystem |
| Fidelity/Schwab/Vanguard | Lower fees, more fund options |
| Gold IRA | Physical precious metals diversification |
| New employer 401(k) | If they accept rollovers |
| Leave in plan | May lose advisor access |
Merrill Lynch Rollover Process
Follow these steps to roll over your Merrill account.
- 1Log into benefits.ml.com
- 2Navigate to "Distributions & Withdrawals"
- 3Select "Rollover to IRA"
- 4Open destination IRA account
- 5Choose "Direct Rollover"
- 6Provide destination account information
- 7Complete required forms
- 8Submit and track your request
- 9Verify funds arrive at new IRA
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Consider a Gold IRA Rollover
Merrill Lynch 401(k) plans offer traditional stocks, bonds, and target-date funds. A Gold IRA provides access to physical precious metals for true diversification.
- Diversify beyond Merrill's stock/bond options
- Physical gold as inflation hedge
- Same direct rollover process
- No taxes when done correctly
- Augusta Precious Metals handles the transfer
Frequently Asked Questions
1Can I roll to a Merrill Edge IRA?
Yes, rolling to Merrill Edge keeps you in the Bank of America ecosystem with familiar interfaces. Compare fees to other providers before deciding.
2What if my employer uses Merrill for the 401(k) and I have a Merrill Edge account?
These are separate accounts. You can roll your 401(k) to your existing Merrill Edge IRA when you leave your employer.
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