Yes! You can use AI to fill out Rollover Contribution Instructions & Application

The form requires the check be payable to 'Charles Schwab Bank for (your retirement plan name), FBO (your name and social security number)'. Applicants often shorten this to 'Charles Schwab' or make it out to themselves, which causes the check to be rejected. This error requires the applicant to request a new check from their prior custodian, leading to significant processing delays. To avoid this, copy the payee information exactly as specified in Step 1 of the instructions.

Applicants sometimes mail the rollover check without the signed application, or fax the application but forget to mail the check. The instructions clearly state that the completed application and the check must be received to process the transaction. An incomplete submission is considered 'not in good order' and will be returned or held, halting the rollover process and potentially causing you to miss the 60-day indirect rollover window.

Forgetting to sign or date the application is a frequent and critical oversight. An unsigned form is legally invalid and cannot be processed, forcing the institution to return the entire packet. This simple mistake stops the rollover dead in its tracks and requires the applicant to resubmit everything, wasting valuable time. Always perform a final review of the form, specifically checking the signature and date fields, before sending it.

When a distribution check is made payable directly to the participant, it's an 'indirect rollover' that must be completed within 60 days. People often miss this deadline or fail to add back the 20% mandatory tax withholding, resulting in a taxable event and penalties. To prevent this, always request a 'direct rollover' where the check is made payable to the new financial institution. If an indirect rollover is unavoidable, use a certified check (not a personal one) and act immediately.

The form lists specific eligible plan types (e.g., 401(k), 403(b), IRA). Participants may be unsure of their exact account type and guess, or attempt to roll over funds from an ineligible source. An incorrect selection will cause the rollover to be rejected after review, as the funds are not permitted in the new plan. Before filling out this section, you must contact your prior plan administrator to verify the exact account type.

When rolling over ROTH funds, the form requires the ROTH start date, total contributions, and earnings, which participants rarely know offhand. Providing estimates or leaving this section blank can lead to processing delays and incorrect tax basis tracking for future withdrawals. To avoid this, obtain a detailed statement from your prior custodian that explicitly breaks down your ROTH contributions and earnings before completing the application.

The application asks for the 'Retirement Plan Name' of the new Schwab account in the 'Your Information' section, and the 'Name of Retirement Plan or IRA' for the old account in a separate section. Applicants frequently mix these up, writing the old plan's name in the new plan's field. This causes confusion and can lead to processing delays while the firm clarifies which account should receive the funds. Carefully read the section headers to ensure you are entering the correct information in each field.

The instructions explicitly state that if a distribution check was made payable to you, you must send a certified check or money order, as 'personal checks are not acceptable'. Submitting a personal check will result in its rejection, delaying the rollover process. This delay can be critical, as it may cause you to miss the 60-day deadline for indirect rollovers, triggering taxes and penalties. Always obtain a certified check from your bank for the correct amount.

By signing, the applicant certifies several important facts, such as the funds not being from a hardship distribution or a required minimum distribution. Many people sign this section without reading the bullet points, potentially making a false certification. If the rollover is later found to be ineligible, the entire amount plus earnings will be returned and become a taxable event. It is crucial to read each point and verify your eligibility before signing.

A typographical error in the Social Security Number is a common data entry mistake that will cause the entire application to fail. The SSN is the primary identifier used to match the funds to your account and for tax reporting. An incorrect number means the system cannot find your account, leading to an automatic rejection and requiring a full resubmission. AI-powered form filling tools like Instafill.ai can help prevent these errors by auto-filling from a saved profile and validating the format, and can also make non-fillable PDFs like this one fillable.