Sync your Fidelity 401(k) plan with Gusto

First, you’ll need to authorize your Fidelity 401(k) app to kick off the onboarding process in Gusto. If you’re not sure if you have a Fidelity 401(k) plan, see "How to check if you have a Fidelity 401(k) plan" below.

Follow these steps to authorize the app:

1. Sign in to your Gusto admin account.
2. Go to the App directory.
3. Search and select Fidelity Investments - Fidelity 401(k).
4. Click Learn more.
5. Select your plan type:
   • Fidelity 401(k): Click Continue and proceed to step 6 below.
   • Fidelity Advantage 401(k): If this is your plan, click here for next steps.
   • Other: You'll need to manually set up the plan. 
6. Review the terms and associated costs. If you’re in agreement, click Get started.
7. Enter the following information during the flow:
   • Plan name and Plan ID
     • Note that this integration only supports Fidelity Workplace 401(k) accounts—it cannot support Self-Employed 401(k), SEP-IRA, or SIMPLE IRA plans. If you have a Fidelity Advantage plan, refer to this help center article instead.
   • Your company contribution scheme (if applicable)
   • Who should be eligible or excluded from the plan
8. Indicate whether your plan allows for loans, and if so, whether you have any currently active.
9. Audit your deductions in Gusto to ensure they reflect all current enrollments in your 401(k) account. Once automation is turned on, any incorrect deductions are the responsibility of the company admin and will be maintained after your automation goes live. We cannot start the testing process until your deductions are fully up to date.
   • If you have not set up 401(k) deductions in Gusto, click here for steps to set up and manage deductions.  Manual 401(k) deductions should be set up initially, which will be used when turning on 360 automation with Fidelity.

Testing process

Once you authorize your Fidelity 401(k) app in Gusto, reach out to your Fidelity Account Manager and ask them to start the testing process. After finishing the onboarding steps in Gusto, you’ll see the initial timeline for testing with Fidelity and additional next steps. Note: the entire testing process can take up to 3 months to complete. Please continue managing your 401(k) deductions manually in the meantime.

How to check if you have a Fidelity 401(k) plan

If you’re not sure if you have a Fidelity 401(k) plan, check your executed adoption agreement in the Document and Forms section of Fidelity’s Plan Sponsor WebStation (PSW). If you have a Fidelity 401(k) plan, it will read, “[Your Company Name] 401k plan.” Alternatively, a Fidelity Advantage 401(k)SM plan will show as “Fidelity Advantage 401(k)” and is not available for integration at this time. Likewise, the feature does not support Fidelity Self-Employed 401(k), SEP IRA, or SIMPLE IRA plans. 

Once the automation begins, here's how the sync works and when to make updates in Gusto vs. Fidelity.

Payroll files

Gusto will send payroll files one day after the check date. Please allow at least one additional day for this to be reflected in your Fidelity account. 

Deferral changes 

Employee enrollments and deferral changes must be made in Fidelity 401(k) accounts and will then be synced automatically back from Fidelity to Gusto within a week. If you notice that an employee deferral is not accurately reflected in Gusto, please contact us at [email protected]. 

Follow these steps to review your employees’ current deferral amounts: 

1. Sign in to your Gusto admin account.
2. Click Benefits from the left-hand side.
3. Go to the Fidelity 401(k) tile.
4. Choose the Employees tab.
5. Access a list of your current employee deferral rates in your Fidelity 401(k) account and cross-check against Gusto to make sure they match.

Note that this does not include a listing of company contributions. If applicable, company contributions are applied at the time of running payroll.

Census changes

All employee hires, dismissals, name and address changes, etc. must take place in Gusto and will then sync over to Fidelity on the next payroll file. Please allow at least two days after the pay date for these to be reflected in your Fidelity account, although sometimes it may take longer. 

Update employee eligibility

Here's where to manage your employees' eligibility:

• New hires: You’ll note new employee 401(k) eligibility when onboarding an employee.
• Update current employees: You can update an existing employee’s eligibility status in their employee profile—go to their Job tab, then look under "401(k) eligibility status."

Eligibility statuses

Qualified or May Qualify Someday: Use this status for any employee who has qualified for the 401(k) plan or may qualify in the future. If an employee is eligible but has opted out of the plan, they should still be marked as Qualifies or may qualify someday. 

Excluded from plan: This status should only be used if an employee is excluded from participating in the 401(k) plan based on your plan specifications and will never be eligible to participate. 

Questions about your 401(k) plan

Employers: Contact your Fidelity Account Manager or call 800-835-5097.

Employees: Contact Fidelity at 800-835-5095.

Questions about the syncing of your Fidelity 401(k) and Gusto accounts

Email [email protected].