How do I add a 401(k)/403(b) account?


1.  At the bottom of the Account Bar, click Add an Account.

2.  Click 401(k)/403(b).
3.  Follow the on-screen instructions. Click Help for more information.

Simple Setup wizard

As you move through the account setup process, you may not see all the pages described below—these depend on the type of account you are adding and how much information Quicken can download from your financial institution. Click a link below for more information. 

  • What is the name of your bank or brokerage?
    If your bank or brokerage is listed on the screen, click it.


    If your bank or brokerage is not listed on the screen, start typing its name. After you type a few characters Quicken displays a list of possible matches. If you see what you are looking for, go ahead and click the name of your bank or brokerage. If you don't see what you are looking for, click Back and try again.
    • What if I can't find it in the list, or I want to enter transactions manually?
      If you've tried a couple of times and you can't find your bank or brokerage in the list, or if you want to enter your transactions manually, click Advanced Setup and then choose I want to enter my transactions manually. You can always activate it to download transactions or send payments later on (if your financial institution supports bill pay).
    • Why does Quicken want to know my bank name?
      Quicken needs to know your bank or brokerage name to find out if it can download transactions for you.

      Downloading transactions will:
      • Save you from manually entering your data
      • Ensure data accuracy
      • Help you detect invalid or fraudulent transactions
    • What if I don't enter the name of my bank?
      If you don't enter the name of your bank or brokerage, Quicken won't be able to download transactions for you. You will therefore have to manually enter your transactions into Quicken.  
  • Select a currency for the account (Optional)
    If you have set up Quicken to track multiple currencies, select one from the list. If you decide you need to change the currency for the account, you can do so only if you haven't entered any transactions except the opening balance.
  • What is your user ID and password?
    Quicken needs this information so it can download your account information. For most banks and brokerages, you can use the same user ID and password you use to log in to their website. If you don't have a user ID and password right now, add the account manually. You can always activate it to update transactions or send payments later on.
    • What is a user name?
      It may be an account number or some other number assigned by your bank or brokerage. It may also be the user ID you use to log in to their website.
    • Did you receive "Direct Connect" instructions from your bank or brokerage?
      Direct Connect is a service some banks and brokerages use to connect to Quicken. You will know if you have Direct Connect if you specifically signed up for it and/or your bank or brokerage sent you a special user ID and password to use with Quicken. If so, use your Direct Connect login information on this screen.


      If you did not receive special login instructions, use your website user ID and password here.


      If you are not sure what to do, use the user ID and password you would use to log in to your bank's website. 
    • What happens if I save my password?
      Your password will be saved in the Quicken Password Vault.


      Quicken's Password Vault is a secure and convenient way to store multiple financial institution passwords that you can then access with a single master password.
      • You can open the Password Vault to add, remove, or change stored passwords at any time.
      • When the Password Vault was developed, it went through a rigorous security review.
      • The Password Vault uses industry-standard encryption to save your passwords, and it is careful to remove them from memory when they are no longer being used.
  • What is the account type or branch?
    Sometimes Quicken needs more information to determine what type of account you have, or at what branch the account resides at before it can access it. If you are not sure, here are some tips that may help you:

    Account Type:

    If different types of accounts are shown, such as checking, savings, or credit card, choose the account type that applies to you.

    State or Location:

    Some banks and brokerages use a state or region to classify accounts. If you see your state listed, this is probably the option to select.

    Bank Mergers: 
    Did your local bank or credit union merge with a larger bank? If you see your old or pre-merger bank name listed, this is probably the option to select.  


    Having trouble? Contact your bank or brokerage for instructions. 
  • How should Quicken set up accounts it has found?
    After you tell Quicken how to access your bank or brokerage, it goes online and downloads information about the accounts you hold there. Quicken then asks you to provide a bit more information about the accounts.

    We have found the following:

    This is a list of your accounts that Quicken has detected at your bank or brokerage.


    Account Type
    :

    You may see various items in this list: Checking, Savings, Credit Card, Brokerage, IRA or Keogh plan, or 401(k). Choose one that best matches the purpose of your real-world account.

    Add, Ignore, or Link:

    Quicken needs to know what you want to do with the accounts it has found. Keep in mind that you don't need to set up all of the accounts it finds; just the ones that you want to track in Quicken.
    • Choose Add to create a new Quicken account in which to download your transactions. If you are new to Quicken, this is probably the option that you want.
    • Choose Link to download your transactions into an existing Quicken account. If you have previously set up the account in Quicken, but are not yet downloading transactions into it, this is probably the option you want.
    • Choose Ignore to disregard one of the accounts that Quicken has found. No account will be created, and transactions for that account will not be downloaded into Quicken.


       

    Nickname (Optional):

    Enter the name you want to use to refer to the account in Quicken. This name will appear in reports, and in the Quicken interface. If you don't enter a nickname, Quicken will use the name provided by your financial institution for the account.

    Used mostly for:

    If you are using Quicken Home & Business or Quicken Rental Property Manager, choose the primary use of the account: Personal (which is the default), Business, or Rental Property. Your selection determines where in the Quicken interface (on which tab) the account appears. You can change this from the Account List later if you wish.

  • Your accounts have been added!
    You will receive confirmation that your account, or accounts, have been added to Quicken. Depending on the type of account you are adding there may be other steps you need to take. This screen will tell you what you need to do, if anything, to start using the accounts. Congratulations!

Advanced Setup wizard

For most users, Simple Setup is all they will need to add their accounts. If you need to use Advanced/Manual Setup you will see a few additional screens. Click a link for more information.

  • About this 401(k)/403(b) account—Account Name
    Enter a name for the account. The name you type will appear throughout Quicken to distinguish this account from others. Use any combination of letters, numbers, spaces, and other characters except these: [ (left bracket), ] (right bracket), / (slash), : (colon), | (bar), ^ (caret).
  • Tell us about this account—401(k) and employer information
    1. Enter a name for this account.
    • Tell me more
      Account names usually appear in alphabetical order in Quicken. If you and your spouse both have a 401(k) account, or you have 401(k) accounts from previous employers, begin each account name with something similar, such as "401(k) for Terry" and "401(k) for Chris." This way, all your 401(k) accounts will appear next to each other in lists throughout Quicken.

    2. Enter the ending date from your statement.

    Caution
    If you're entering information from your financial institution's website instead of from a paper statement, and if this date is today's date, then don't download transactions for this account until tomorrow. This is necessary in order to reconcile your Quicken account data with account data posted by your financial institution.


    3. Enter the name of your employer and whether this is your current employer or a previous one.

    4. Identify the owner of this account: you or your spouse.

  • Enter information about your loan
    If you selected the check box to indicate that you have a loan, Quicken helps you track it in a loan account


    1. Enter a description (for example Home Down Payment).

    2. Enter how much you currently owe.

    3. Do you want Quicken to add a loan account to track how much you owe? If so, select the Set up account check box.

    4. Enter the original amount you borrowed for this loan.
  • What securities are in this account?
    Do the following for each security you hold in this account:


    1. Under the Ticker field, enter the ticker symbol for the security. If you know the security ticker, Quicken will download the name for you.
    • If you don't know the ticker symbol, click the button labeled Ticker Symbol Lookup.
    • If the security doesn't have ticker symbol (for example, a proprietary security sold by your financial institution), enter a security name in the Security Name.
    • Don't enter bonds in this dialog. When you're finished setting up securities, open the transaction list, click Enter Transaction, and then choose Bond Purchase.

    2. When you've finished for each security, click Next.

  • Enter your current holdings information
    Do the following for each security you hold in this account:


    1. Enter the number of shares and total market value. (If your financial institution doesn't report the number of shares, you can enter the market value.)

    2. Select the appropriate security type: Stock, Mutual Fund, or Other.

    3. Click Next.
  • Setup Summary/Loan Summary
    1. Confirm your settings from the previous setup windows.

    2. Check to see that your information is correct:
    • Is the statement date correct?
    • Are all your securities (mutual funds) listed?

    3. Click Previous to return to previous windows and make changes.

    4. When you're finished, click Done.

    • Tell me more
      After you click Done, you'll see summary graphs and reports in the 401(k) account Summary tab. Some of the details won't matter much yet, because you've only entered one statement.

    5. When you're ready to enter your next statement, open the account, click (the Account Actions icon), and then choose Update 401(k) Holdings.

Notes


When Quicken adds a 401(k)/403(b) account, it also creates a special tax impact account. This account tracks all the transactions associated with your retirement account that can have an affect on your taxes (for example, if you withdraw funds from your retirement account prematurely). Quicken uses this information in some tax reports and planning tools. The tax impact account does not appear in your Account List, but you can drill down to tax impact account transactions in tax reports. You should not edit or delete such transactions, or the account itself, in any way.

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Tip: To find out which version of Quicken you are using, open Quicken go to Help menu and select About Quicken.