If you have eligible retirement savings with another provider, you may be able to roll those funds into your Gusto 401(k). Moving your funds can help you combine your savings and simplify tracking. You’ll also get access to low-cost managed portfolios. This article covers rollover benefits, account eligibility, timing, how to request a rollover, processing timelines, and how to request a Letter of Acceptance.
Rolling over your retirement accounts to Gusto may help with:
Simpler savings: Keep track of your contributions, total savings, and portfolio performance with all your retirement funds in one place
More choices: Access 6 managed portfolios or build a custom portfolio tailored to specific goals
Low costs: Benefit from low-cost index funds that maximize long-term savings. Routine transactions — including loans, rollovers, and distributions — have no service fees¹
The following account types can be rolled over into a Gusto 401(k):
Another 401(k) plan (pre-tax only)
Roth 401(k) (rolls into your Roth balance)
403(b)
457(b) governmental plan
Traditional IRA
SEP IRA
SIMPLE IRA (see restriction below)
A few important restrictions to know:
You cannot roll over Roth IRA assets into a 401(k) plan
Non-Roth after-tax funds in a 401(k) cannot be rolled over to a Gusto 401(k)²
Gusto 401(k) plans cannot accept non-Roth after-tax contributions from an eligible retirement plan or non-deductible contributions held in a traditional IRA
SIMPLE IRAs cannot be rolled over to a 401(k) (pre-tax) unless at least 2 years have passed since the first contribution. As of 2024, this rule may be waived in some cases. SIMPLE IRA plans that end mid-year and transition to a Safe Harbor 401(k) plan may qualify if certain requirements are met
For a full breakdown, review the IRS rollover chart or learn more about retirement accounts eligible for a rollover.
You can roll funds into your Gusto 401(k) any time after:
Your employer’s plan has started
You have created your account
Starting a rollover before these steps are done may cause processing delays or returned funds. You can check your employer’s plan start date in your Gusto Retirement dashboard. Go to Settings, select the 401(k) in the drop-down, then review the Account details section.
We’ll email you after your first contribution to let you know it’s time to roll over your funds.
Note: You can still roll funds in if you no longer work for the company sponsoring the plan — you just cannot actively contribute to the account. If your employer is ending their 401(k) plan or the plan is moving to a new provider, a blackout period may apply. In that case, your rollover may be rejected and returned.
You'll need to work with both Gusto Retirement and your previous provider to finish the rollover. Start by collecting the following information about the account you’re moving funds from. You may need to access your other provider’s online portal or contact them for these details.
Previous brokerage firm: the financial institution where your funds are now
Account type: IRA, 401(k), 403(b), 457(b), defined benefit, and more
Pre-tax balance: total pre-tax amount to roll over, including employer contributions
Roth balance: total Roth amount to roll over, including employer contributions
Roth basis: the total contributions made to your Roth 401(k), excluding earnings or losses
To start your rollover request, choose the path that matches how you signed in, then follow the steps.
Sign in to Gusto and go to Benefits > Active Benefits > 401(k) > Manage.
Go to the Move money tab and select Move money in.
Select + Add a rollover.
Enter your previous account details, as outlined above. You can edit these later if anything changes.
Review the rollover instructions on the screen. You'll also get a confirmation email with a copy of those instructions.
Contact your prior provider to request a check. See step 2 below for details.
Sign in directly at the Gusto Retirement sign-in page.
Select Money movement in the main navigation, then select Move money in.
Select + Add a rollover.
Enter your previous account details, as outlined above. You can edit these later if anything changes.
Review the rollover instructions on the screen. You'll also get a confirmation email with a copy of those instructions.
Contact your prior provider to request a check. See step 2 below for details.
If you’re only rolling over one type of contribution, enter $0 in the other field to submit the request.
Note: If you're rolling over from an IRA, we'll also need the account type — like SIMPLE, SEP, or traditional.
Pro tip: You can view the rollover instructions again and track the status of your rollover at any time from the Money movement > Activity page.
Gusto Retirement supports rollovers by check only. We do not support rollovers by wire or ACH transfer. We also cannot accept in-kind rollovers, where investments are not sold before transfer.
You can request that the funds be sent in one of 2 ways.
The check is made payable to Benefit Trust Company (BTC), the custodian that holds all Gusto Retirement funds. The check can be sent directly to BTC or to your address.
The check is made payable to you or deposited into your personal bank account. Indirect rollovers have required tax withholding, strict time limits, and extra steps. Learn how direct and indirect rollovers work.
When working with your prior provider, share the following:
Checks should be made payable to: “BTC for GUS FBO [your full name]” (this stands for “Benefit Trust Company for Gusto for the benefit of [your full name]”)
Include your Gusto Retirement account ID on the check. You can put it on the memo line, the payable line, or in an attached stub or statement. A missing account ID may delay processing or cause the check to be returned. Your 401(k) account ID is different from your Gusto payroll account ID
Send checks directly to the mailing address of Benefit Trust Company — find this address in your rollover instructions email or by going to Move money in and clicking View Instructions
Important: Checks sent to any Gusto mailing address instead of Benefit Trust Company's address may take much longer to process. They'll need to be rerouted first.
If your prior provider mails the check directly to you, make copies for your records. Then mail the check and all supporting documents to the custodian at the address above. Do not endorse or sign the check before sending it.
Delivery time for your rollover check to reach the custodian varies depending on the mailing method:
Standard USPS mail typically takes 7 – 10 business days
For faster delivery or tracking, consider USPS Priority Mail, USPS First Class, USPS Priority Express, FedEx, or UPS
After BTC gets your check:
You'll get an email notification within 5 – 7 business days
It takes about 10 business days for the funds to be applied to your 401(k)
You can track your rollover's progress in your retirement dashboard under Money movement, then Move money in.
Processing delays may happen if information is missing, incorrect, or needs verification. In those cases, your rollover check may be returned.
Some financial institutions require a Letter of Acceptance (LOA) — a letter confirming that Gusto Retirement is able to accept the incoming funds — before releasing your rollover.
To request an LOA, contact our retirement care team. To confirm your identity, we'll need one piece of information from each column in the identity verification table.
Level 1 information
Level 2 information
Email address on file
Gusto Retirement account ID
Secondary email address
Date of separation of employment (if applicable)
Date of birth*
Date of 401(k) enrollment
Residential address
Pay date of first or last contribution
Phone number
Beneficiary name
*Date of birth can only be accepted for phone call verification — it is not permitted for email verification.
We'll also need to know the type of account you have with your other provider (for example, traditional IRA, Roth IRA, SIMPLE IRA, SEP IRA, Thrift Savings Plan, 403(b), and more), as well as any specific information the letter recipient needs included.
¹ Investment advisory services for Gusto's 401(k) product (when 3(38) fiduciary services are appointed) and SEP IRA/IRA products are offered by Gusto Investments, LLC, an SEC-registered investment adviser. The managed portfolios have blended expense ratios ranging from 0.058% to 0.061% of assets under management. Expense ratios for custom portfolios will vary. These expense ratios are subject to change by and paid to the fund(s). View full fund lineup. There may be sales tax applied to your invoice depending on the state in which you are located.
² Funds will be distributed between traditional and Roth balances based on their origin. For example, Roth funds will roll over to a Roth balance.