The first thing to decide is whether you want your money paid to you or moved to another retirement account.
Cash-out: We pay the money to you. It is subject to income tax, plus a 10% penalty if you do not meet the criteria for a standard distribution.
Rollover to another provider: Your money moves to another retirement account and generally avoids tax now. You use a Transfer Request Form and a Letter of Authorization (LOA), which your new provider supplies. We give you your Basic Capital custodian account numbers to pass along.
One important limit: all transfers out of Basic Capital are cash rollovers only. We do not support ACAT, in-kind transfers, or DTC. If your new provider asks for a DTC number or an in-kind transfer, contact us before you proceed.