Weird 401(K)/Fidelity issue

[TennNole17]

In the mail today, I received a check for $61K- made out to me. Cover letter includes my information- plan number, address, etc.

The check is being "returned" to me, as Fidelity did not have enough information to roll the funds into my account. The check details look like a rollover from another provider, into my account. I don't recognize the other provider.

Fidelity basically said...well its made out to you, its your lucky day, we will send instruction on how to deposit into your 401k.

What the shit?

 

[ThorneStockton]

 

[Hawki97]

In the mail today, I received a check for $61K- made out to me. Cover letter includes my information- plan number, address, etc.

The check is being "returned" to me, as Fidelity did not have enough information to roll the funds into my account. The check details look like a rollover from another provider, into my account. I don't recognize the other provider.

Fidelity basically said...well its made out to you, its your lucky day, we will send instruction on how to deposit into your 401k.

What the shit?

This happened once to a friend of mine. Don’t assume it’s yours even if they let you deposit it. They (I think it was TIAA) figured out they screwed up on some data exchange and clawed it back a few months later.

 

[Bonerfarts]

In the mail today, I received a check for $61K- made out to me. Cover letter includes my information- plan number, address, etc.

The check is being "returned" to me, as Fidelity did not have enough information to roll the funds into my account. The check details look like a rollover from another provider, into my account. I don't recognize the other provider.

Fidelity basically said...well its made out to you, its your lucky day, we will send instruction on how to deposit into your 401k.

What the shit?

You gonna get slammed with taxes over this?

 

[TennNole17]

You gonna get slammed with taxes over this?

Fidelity said no.

 

[Mister_Man]

Christmas in March? Sounds like it.

 

[95Hawk]

If you send me your bank info, social security number, and mother’s maiden name, I can help you with these funds.

It’s important for you to have trustworthy help with this potentially complex situation.

 

[Rifler]

Fidelity said no.

They said no because they believe it's a rollover and that it's yours,... Sounds like they're half right

 

[alaskanseminole]

This happened once to a friend of mine. Don’t assume it’s yours even if they let you deposit it. They (I think it was TIAA) figured out they screwed up on some data exchange and clawed it back a few months later.

 

[TennNole17]

They said no because they believe it's a rollover and that it's yours,... Sounds like they're half right

half right indeed. I called the check issuer (Principal Trust), and they verified I had no account with them, and that the check I held had been cancelled. It was a rollover check

1) no idea how Principal gets my information or 2) How Fidelity boondoggled this.

I'm pretty surprised the guy I talked to at Fidelity told me to submit it into my 401K.

 

[Rifler]

I'm pretty surprised the guy I talked to at Fidelity told me to submit it into my 401K.

They make new idiots everyday and they're allowed to work anywhere they can get hired...

 

[alaskanseminole]

half right indeed. I called the check issuer (Principal Trust), and they verified I had no account with them, and that the check I held had been cancelled. It was a rollover check

1) no idea how Principal gets my information or 2) How Fidelity boondoggled this.

I'm pretty surprised the guy I talked to at Fidelity told me to submit it into my 401K.

I think I found the answer to "no idea how Principal gets my information." It's likely here: "the guy I talked to at Fidelity told me to submit it into my 401K."

 

[TennNole17]

They make new idiots everyday and they're allowed to work anywhere they can get hired...

"I've been doing this for 10+ years and never seen this...I'll send you an email with instructions on how to deposit into your 401K"

 

[noleclone2]

No idea what is going on but sounds like a failed scam of someones.

 

[onlyTheObvious]

Orange juice futures might be a good place to invest this money you stumbled upon.