How to Find an Old 401(k)

Ever changed jobs and lost track of a 401(k) plan? You’re not alone. 401(k) plans don’t automatically transfer when you start a new job, which means accounts can get left behind. According to Capitalize, a service that helps people find and rollover 401(k)s, there was $1.65 trillion in 29.2 million forgotten 401(k) plans as of May 2023, and that number could be higher today^[0]

If you're one of the many who has left a 401(k) behind, the good news is that money will always be yours, no matter how long it's been. You'll just need to track it down. Here's how to do it.

5 ways to find an old 401(k)

1. Contact your previous employer about the lost 401(k)

Employers will try to track down a departed employee who left money behind in an old 401(k), but their efforts are only as good as the information they have on file. Beyond providing 30 to 60 days' notice of their intentions, there are no laws that say how hard they have to look or for how long.

If it’s been a while since you’ve heard from your former company, or if you’ve moved or misplaced the notices it sent, start by contacting your old company’s human resources department.

If there was more than $7,000 in your retirement account when you left, there’s a good chance that your money is still in your workplace account. (SECURE 2.0 says employers can't involuntarily move your 401(k) if your balance is above that amount.)

If you track your 401(k) down at your former employer, you could leave the money there or use a 401(k) rollover to move that money into another retirement account.

2. Check old statements.

If it's been so long that you're not sure whether you had a retirement plan at a past employer, review old pay stubs or W-2s. A pay stub will show regular contributions to a 401(k) plan, while a W-2 form may list participation in a retirement plan in Box 12.

» MORE: How to read a W-2

You can also look for old 401(k) account statements, which would show your plan administrator (that’s the financial firm that held the account), so you know who to contact. You can also look for any paper mail or e-mail notices, as plan administrators may send out quarterly or yearly statements as a status update on the account.

3. Reach out to the plan administrator directly

If you can’t find anything from the past, but know the company that administered your old 401(k) plan, you can reach out to the company directly. Information you’ll need to share to find your lost 401(k) plan includes your name, previous employer and other personal identifying information.

When it comes to amounts within the account, plan administrators have more leeway than employers. If the balance is $1,000 or less, they can simply cut a check for the total and send it to your last known address, leaving you to deal with any tax consequences. For amounts between $1,000 to $7,000, they're allowed to move funds into an IRA without your consent. These specialty IRAs are set up at a financial institution that has been federally authorized to manage the account^[0]

4. Use your Social Security number to find an old 401(k)

If the old plan administrator cannot tell you where your 401(k) funds went, there are several databases that can assist. You can use your Social Security number to find your lost 401(k) by popping it into the databases below.

National Registry of Unclaimed Retirement Benefits

The National Registry of Unclaimed Retirement Benefits works like a “missed connections” service, where companies register with the site to help facilitate a reunion between ex-employees and their retirement money. Not every company is registered with this site, so if none of these searches yields results, move on to the next step^[0]

Department of Labor's abandoned plan database

Another good place to start is with the Department of Labor’s abandoned plan database. It's provided by the Employee Benefits Security Administration. The tool helps you find out if you have a plan that's been terminated or is in the process of being terminated. You can also figure out who is doing the terminating in case you need to contact them directly^[0]

U.S. Pension Guaranty Corp. database of unclaimed pensions

If you were covered under a traditional pension plan that was disbanded, search the U.S. Pension Guaranty Corp. database of unclaimed pensions. You'll need to provide your name, address, Social Security number, the employer’s name, and the dates you worked for the company, as well as your phone number^[0]

FreeErisa

FreeErisa, an employee benefit data resource, maintains a rundown of employee benefit plan paperwork. Users can sign up for free but may have to pay for advanced search tools.

Capitalize

Capitalize is a service that helps people find old 401(k)s with major employers and companies, performing rollovers via concierge service.

Beagle

Like Capitalize, Beagle presents itself as a one-stop shop for finding and rolling over old 401(k)s.

5. Search unclaimed property databases

If a company terminates its retirement plan, it has more options on what it’s allowed to do with the unclaimed money, no matter what the account balance.

It might be rolled into an IRA set up on your behalf, deposited at a bank or left with the state’s unclaimed property fund. Missingmoney.com, run in part by the National Association of Unclaimed Property Administrators, can help you to do a multistate search of state unclaimed property divisions^[0]

Note that if a plan administrator cashed out and transferred your money to a bank account or the state, a portion of your savings may have been withheld to pay the IRS.

That’s because this kind of transfer is considered a distribution (aka cashing out) and is subject to income taxes and penalties. Some 401(k) plan administrators withhold a portion of the balance to cover any potential taxes and send you and the IRS tax form 1099-R to report the income. Others don’t, which could leave you with a surprise IRS IOU to pay.

» MORE: 401(k) taxes on distributions and withdrawals

What to do with an old 401(k) when you find it

After finding your old 401(k) plan, you have a few options:

Leave it where it is

You might be able to leave your old 401(k) money where it is if it’s in your former employer’s plan. One reason to do so is if you have access to certain mutual funds with lower management fees that aren’t available to individual investors. But you won't be allowed to contribute to the plan anymore since you no longer work there.

Roll it into other retirement accounts

Reasons to move your money to an IRA or to roll it into a current employer’s plan include access to a broader range of investments, such as individual stocks, a wider selection of mutual funds, and more control over account fees, including plan administration fees. You also have the peace of mind that all of your money is consolidated in a single place.

If your money was moved into an IRA on your behalf, you don’t have to leave it there. You can switch brokers and move your investments into a new IRA without triggering any taxes.

» Ready to get started? See the best IRA providers for a 401(k) rollover.

Cash out your account

You can choose to cash out your old 401(k) plan, but this may decrease the amount of cash you’ll receive, especially if you haven’t reached retirement age. If you are under age 59 ½ and withdrawing for a non-qualified reason, you may face taxes, a 10% early withdrawal penalty, and increase your taxable income for the year.

» A quick refresh: What to know about early 401(k) withdrawals.