How do I speak to a Fidelity representative?
If you need to contact a live person in Fidelity customer service you need to dial 1‑800-343-3548. To speak with a live agent, you need to say “I want to speak to the representative” and stay on the line (typical waiting time is about 1-3 minutes).
What is the corporate address for Fidelity Investments?
245 Summer St, Boston, MA
Who do I complain to about Fidelity Investments?
To ask a question or report a problem concerning your investments, your investment account or a financial professional, contact us online or call the SEC’s toll-free investor assistance line at (800) 732-0330 (if outside of the U.S., call 1-202-551-6551).
How do I close my Fidelity 401k account?
How do I close an account? You can close an account either online through the Virtual Assistant, or by calling a Fidelity representative at 800-343-3548.
Does Fidelity charge to close an account?
Fidelity has $0 fee to cancel both brokerage accounts and IRAs.
What is considered a hardship for Fidelity?
The IRS defines a hardship as having an immediate and heavy financial need like a foreclosure, tuition payments, or medical expenses. Pros: You’re not required to pay back withdrawals and 401(k) assets.
Does Fidelity allow hardship withdrawals?
A hardship withdrawal allows the owner of a 401(k) plan or a similar retirement plan (such as a 403(b)) to withdraw money from the account to meet a dire financial need. Hardship withdrawals are treated as taxable income and may be subject to an additional 10 percent tax.
Why am I not eligible for a hardship withdrawal?
You have an immediate and heavy financial need even if it was reasonably foreseeable or voluntarily incurred. The amount requested is not more than the amount needed to relieve your financial need, but can include any amounts necessary to pay any taxes or penalties reasonably anticipated.
How long does it take to receive a hardship withdrawal?
Generally, once Guideline receives your hardship withdrawal application, review takes about 3-4 weeks. A final notification is sent when your check is ready for mailing. Please expect about 7-10 business days to receive the check(s) through USPS mail.
How long does it take fidelity to approve a hardship withdrawal?
If you choose to transfer your money electronically to another account, such as a checking or savings account, your withdrawal should process within 1 to 3 business days if you submit your request by 4 p.m. ET.
How much money do you need to open a Fidelity brokerage account?
There aren’t any fees for opening up or maintaining a Fidelity brokerage account, but there is a $2,500 investing minimum. So you can set up an account for free, but you’ll need to fund it with $2,500 to start investing.
What proof do I need for a 401k hardship withdrawal?
Documentation of the hardship application or request including your review and/or approval of the request. Financial information or documentation that substantiates the employee’s immediate and heavy financial need. This may include insurance bills, escrow paperwork, funeral expenses, bank statements, etc.
Can I take a hardship withdrawal from my 401k to pay off credit cards?
So, in most cases, you can’t use a 401k hardship withdrawal just because you want to pay off your credit card balances. In this case, you’d be required to take out a 401k loan.
Can I cash out my 401k without quitting my job?
You don’t need to quit your job to cash out a 401(k). Most plans allow participants to cash out their 401(k)s via a 401(k) loan or through a hardship withdrawal. A 401(k) loan will prevent you from having to pay taxes and penalties, but the loan plus interest will need to be repaid into the account.
How much can I take out of my 401k for a hardship?
COVID-19 Hardship Withdrawals in 2020 You can withdraw up to $100,000 or your account balance, whichever is smaller. You can spread out any taxes due over three years. If you pay the funds back into your account within three years, it will be considered a rollover and not subject to taxes. 2.
Can I legally cash out my 401k?
Put simply, to cash out all or part of a 401(k) retirement fund without being subject to penalties, you must reach the age of 59½, pass away, become disabled, or undergo some sort of financial “hardship” (if the plan provides for this last exception).
Can you cash out your 401k if you still work for the company?
You are allowed to cash out a 401(k) while you are employed, but you cannot cash it out if you’re still employed at the company that sponsors the 401(k) that you wish to cash out.