News & Information

Did you know you can move funds from your 401k to a self-directed IRA? This process is called a direct rollover and does not apply to the one rollover per year rule. Funds may be rolled over from as many 401ks to IRAs as you would like in one year.

Refer to these simple steps to set up an IRA with CNB and rollover funds from a 401k:

1. If you do not already have an IRA with CNB, complete the CNB IRA Application.
   • The set-up fee and current year base fee will due upon account establishment. Please send a check payable to CNB or transfer in additional cash to cover these fees. If a fee payment is not sent, fees will be deducted from the rollover.
   • If you already have an IRA established at CNB you can skip this step
2. Contact your previous employer for their disbursement forms.
   • Most firms require specific forms to be completed prior to issuing any funds. Please send copies of this paperwork to CNB. If special forms are not required, CNB’s Transfer Request form may be used.
   • If a letter of acceptance from CNB is required in addition to disbursement forms, please contact our new accounts department at (800)680-0340 ext 6810.
3. Complete our Rollover Deposit Statement.
4. Complete the Investment Authorization Form to instruct us as to which investments to purchase within your new CNB Self-Directed IRA.
5. Attach necessary investment subscription agreements, applications, etc.
6. Send all completed forms and the check for fees to CNB: