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Wrong/Missing Account Type For Newly Added Fidelity 401k Account

cyberphile

As part of my testing this new Fidelity Investments connection type, I've set up a new test datafile using version R64.25 and added my Fidelity accounts that include a 401k from their Netbenefits organization. Unfortunately, there is no provision presented to define this account as either a 401k, Roth 401k, or 403b type account as was available in the past using the direct connection type. I have not seen this problem reported before. Here is the legacy account configuration in Quicken:

Here are the choices presented in R64.25 when adding this account to a new test datafile:

And the only choices once the account is added as "IRA or Keogh Plan":

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Comments

Quicken Kristina

Hello @cyberphile,

Thank you for reaching out! To clarify, is this happening with an account that you have connected to Fidelity, or is this happening in a manual account? If this account is connected to Fidelity, what account type is it connecting as?

I look forward to your reply!

cyberphile

@Quicken Kristina

It is happening with an account that I am connecting to Fidelity.

Update:

I just discovered that apparently the process to add a 401k/Roth 401k/403b account now is to add it as a Brokerage-type account, then go to the edit account details, change the account type to tax-deferred, and click on a now visible button to convert to the correct account type.

Who thought this non-intuitive process was a good idea?

Quicken Kristina

Thank you for the follow-up,

Thank you for sharing the process you found to convert the account to the correct type. Hopefully this will help others encountering the same problem.

Thank you!

EvDob

Kristina, hopefully this will also help Quicken developers make the program easier to use, instead of slowing us down going through the procedure above.