Rollover comparison

Principal → Fidelity 401(k) rollover

If you're rolling a 401(k) FROM Principal TO Fidelity, here are the practical mechanics: what forms you'll fill out, how long it takes, whether ACATS is supported, and what specific gotchas to watch for at each custodian. This page documents the process; it does not recommend one custodian over the other.

Side-by-side

Principal vs Fidelity 401(k) rollover comparison
Field	Principal	Fidelity
ACATS eligibility	Paper-based transfers only — typical processing 10–14 business days	ACATS (electronic) eligible — typical processing 3–5 business days
Processing time	10-14 business days; Medallion stamp may be required	3-5 business days (ACATS); 7-10 days for paper
Transfer form	Direct Rollover Distribution form (plan-specific)	Transfer of Assets (TOA) request — initiated at receiving institution
Customer-service phone	1-800-547-7754	1-800-343-3548
Customer-service hours	Mon-Fri 7am-9pm CT	Mon-Fri 7am-11pm ET, Sat-Sun 9am-5pm ET

Known pitfalls at Principal

Warning: Principal specializes in small-business 401(k) plans, so rollover forms are highly plan-specific — you can't always download a generic form from the website. Call your former employer's HR to ask which form their plan uses.
Warning: Many Principal plans require a Medallion Signature Guarantee for rollovers over $50K (NOT a notary). Get this in person at a bank you have a relationship with before you start — finding a Medallion provider can take a couple days.
Warning: Principal will sometimes ask the destination custodian to provide a 'Letter of Acceptance' on letterhead. Request this from the destination upfront (they all have a standard form) — saves a callback.

Known pitfalls at Fidelity

Warning: Fidelity defaults to mailing a paper check if you initiate the transfer FROM their side — call the receiving custodian first to initiate an ACATS pull instead.
Warning: If you have employer stock in the 401(k) (NUA-eligible), do NOT roll it directly — separate the basis cost first or you lose the NUA tax treatment forever.
Warning: Fidelity will ask whether to liquidate or transfer in-kind. For mutual funds, in-kind only works if the destination custodian supports the same funds; otherwise it's liquidate + cash transfer (the default).

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This comparison is informational only — it documents the procedural mechanics of rolling over a 401(k) between Principal and Fidelity. nesthelm is not an investment adviser or broker-dealer; we do not recommend either custodian over the other. Consult a CPA or licensed financial advisor for advice on your specific situation.