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Whenever you leave a job that had a 401k benefit — whether you retired, quit or were fired — you have a decision to make about your 401k plan. The IRS allows you to make a tax-free 401k rollover into another employer-qualified retirement plan or into an Individual Retirement Account (IRA.) Typically, most people will initiate a 401k rollover to a Traditional or Roth IRA. The 401k rollover to IRA, sometimes called a 401k IRA rollover or 401k to Rollover IRA, is a common move people make when they leave their job.

The process begins with your previous employer. They will have paperwork for you to complete that will authorize them to transfer the account. Typically, they need to know the name of the institution that you are transferring the funds to, your IRA account number at that institution and where to send the check. Often, the spouse's notarized signature is also required as is a letter from the receiving institution consenting to accept the funds. Each form is different but we would be happy to look it over and help fill in the blanks! 

For more details, visit our How to Do a 401k Rollover to IRA or simply call us at 765-732-3022.

Did you know that you can create an alert on your BSB account through online banking? Alerts can be used to notify you of low balances, account transactions and payroll or Social Security deposits. Alerts warn you of debit card usage, password changes or unusual activity.

Visit the Online Banking link for complete the alert.

Make a Difference – Reduce, Reuse, Recycle! Now is a great time to gather up those outdated flip phones, broken Xbox controllers, curling irons, dinosaur monitors and more. We hope to see you at Bath State Bank in West College Corner on US 27 THIS Friday between 10 a.m. and 2 p.m. For more details, visit the green bar on our homepage.

Be Our Recycling Hero!

Are you in need of a simplified accounting software to make your life easier? Bath State Bank is partnered with Autobooks, an all-in-one automated accounting software that saves time by directly integrating with your BSB accounts.

This product is great for lawn care services, daycare, tutoring, painters, bakers, plumbers, community sports organizations, detailers, churches, music instructors, feed mills and more! Send invoices, accept payments, manage your cash flow with customer paid/due/past due payments, view financial reports, pay bills and much more with Autobooks. In just a few clicks, your customers have the ability to pay you with their debit card, credit card or an electronic bank transfer to save you time in collecting payments. 

Autobooks is accessible through your Bath State Bank online banking login. For more information, please visit Autobooks. 

You’ll love the efficiency that Autobooks brings to your day-to-day operation.

Daylights Savings Time is here! With the change of your clock, please don’t forget to change batteries in your smoke detectors, carbon monoxide detectors and emergency flashlights, then test to make sure they are in working order. Keep your family safe. Spring ahead for home safety!