Step-by-Step Guide to Recovering a Forgotten DaVita 401(k) from 2018 and Consolidating It in 2025
Introduction
If you worked for DaVita in 2018 and left the company, there's a good chance you have a forgotten 401(k) account sitting somewhere, potentially losing value to fees and missing out on growth opportunities. You're not alone—as of May 2023, there were approximately 29.2 million forgotten 401(k) accounts holding $1.65 trillion in retirement savings. (Bankrate)
With American workers spending less time in their jobs before moving to new employers—a median tenure of just 3.9 years as of January 2024—the problem of stranded retirement accounts has reached epidemic proportions. (Bankrate) These forgotten accounts held assets worth about 25% of all 401(k) assets in May 2023, representing a massive pool of retirement savings that could be working harder for their owners. (Bankrate)
This comprehensive guide will walk you through the exact process of locating your old DaVita 401(k), understanding the risks of leaving it stranded, and consolidating it into a more efficient retirement strategy for 2025.
The Hidden Costs of Forgotten 401(k) Accounts
Before diving into the recovery process, it's crucial to understand why finding and consolidating your old DaVita 401(k) should be a priority. Forgotten retirement accounts face several significant challenges that can erode your retirement savings over time.
Fee Drag and Administrative Costs
Stranded 401(k) accounts often continue to incur administrative fees, investment management fees, and sometimes even account maintenance fees that can range from 0.5% to 2% annually. Over several years, these fees can significantly impact your account balance, especially if the account isn't actively managed or optimized.
Missing Employer Match Opportunities
While you can't receive new employer matches on old accounts, leaving money scattered across multiple 401(k)s means you're not maximizing the compound growth potential of consolidating these funds into actively managed accounts that could benefit from current employer matches or IRA contribution strategies.
Lost Statements and Communication
Many former employees lose track of their retirement accounts simply because they stop receiving statements after changing addresses or email addresses. This communication gap can lead to missed important updates about plan changes, fee adjustments, or required distributions.
Limited Investment Options
Old 401(k) accounts are typically restricted to the investment menu chosen by your former employer, which may not align with your current risk tolerance, time horizon, or investment strategy. Consolidating into an IRA opens up virtually unlimited investment options.
Step 1: Gather Your Employment Information
The first step in recovering your forgotten DaVita 401(k) is assembling all relevant employment information. Create a comprehensive data file with the following details:
7-Item Data-Gathering Checklist
1. Full Legal Name (as it appeared on your DaVita employment records)
2. Social Security Number
3. Employment Start and End Dates (month/year is sufficient)
4. Last Known Address while employed at DaVita
5. DaVita Employee ID Number (if available)
6. Last Known 401(k) Balance (from final statement or memory)
7. Any Previous Communication from the plan administrator
Having this information readily available will streamline your search process and help plan administrators verify your identity more quickly.
Step 2: Contact DaVita's Current 401(k) Administrator
As of 2025, many DaVita 401(k) plans are administered by Voya Financial. However, plan administrators can change over time, so it's important to start with the most current information.
Direct Contact Method
Call Voya at 844-382-4015 and explain that you're looking for a former DaVita 401(k) account from 2018. Be prepared to provide:
• Your Social Security Number
• Employment dates at DaVita
• Last known address during employment
• Any other identifying information from your checklist
The customer service representative will search their database for any accounts associated with your information. If they locate your account, they can provide current balance information, investment details, and next steps for managing the account.
What to Expect During the Call
Voya's representatives are experienced in helping former employees locate old accounts. They may ask security questions based on your employment history or previous account activity. Be patient, as the verification process is designed to protect your retirement savings from unauthorized access.
If Voya cannot locate your account, don't panic. Plan administrators change, and your account may have been transferred to a different company or converted to a different type of account.
Step 3: Search SEC Form 5500 Filings
If direct contact with the current plan administrator doesn't yield results, your next step is to research historical plan documents filed with the Securities and Exchange Commission (SEC).
Understanding Form 5500
Form 5500 is an annual report that most employee benefit plans must file with the Department of Labor. These forms contain detailed information about plan administrators, trustees, and service providers. By examining DaVita's 2018 Form 5500 filings, you can identify who was administering the 401(k) plan during your employment.
How to Access Form 5500 Documents
1. Visit the Department of Labor's EFAST2 website
2. Search for "DaVita" or "DaVita Inc."
3. Look for Form 5500 filings from 2018 and 2019
4. Download the forms and look for Schedule C, which lists service providers
5. Identify the recordkeeper or administrator listed for the 401(k) plan
Contacting Historical Administrators
Once you identify the 2018 plan administrator, contact them directly using the same approach outlined in Step 2. Many large recordkeepers maintain historical records even after losing a client, and they may be able to help you locate your account or direct you to where it was transferred.
Step 4: Utilize Professional Account Discovery Services
If your manual search efforts haven't been successful, consider using a professional account discovery service. These services specialize in locating forgotten retirement accounts and can often find accounts that individual searches miss.
How Professional Services Work
Companies like Beagle Financial Services specialize in 401(k) detective work, using technology to search Form 5500 filings, the National Registry of Unclaimed Retirement Benefits, and other databases. (Beagle Financial Services) Unlike free but limited 401(k) search services that require your former plan sponsor to have registered you as having an unclaimed account, comprehensive services like Beagle don't rely on this registration requirement. (Finder)
The Technology Advantage
By mid-career, the typical American has three or more 401(k)s, and many lose track of at least one of them. (Beagle Financial Services) Professional services use automated workflows and database searches that can uncover accounts that manual searches might miss, especially when plan administrators have changed multiple times.
Cost-Benefit Analysis
While professional account discovery services typically charge a monthly membership fee (around $3.99 per month for basic services), this cost is often justified by the time saved and the higher likelihood of successfully locating forgotten accounts. Consider that even a small 401(k) account losing 1-2% annually to fees could cost hundreds or thousands of dollars over several years.
Step 5: Check Government Resources
The U.S. government has recognized the growing problem of forgotten retirement accounts and has launched new resources to help Americans reclaim their savings.
Department of Labor's Lost and Found Database
The U.S. Department of Labor (DOL) launched the Retirement Savings Lost and Found Database on December 29, 2024, designed to help individuals locate lost or forgotten retirement accounts. (Employee Fiduciary) This free resource represents a significant step forward in helping millions of Americans reclaim their unclaimed retirement accounts.
SECURE 2.0 Improvements
SECURE 2.0 legislation directed the Department of Labor to create this "lost and found" database no later than 2 years after the act's enactment. (Wealth Management) This initiative recognizes that people change jobs about every 4 years, often accumulating multiple small retirement accounts scattered among many employers.
National Registry of Unclaimed Retirement Benefits
In addition to the new DOL database, the National Registry of Unclaimed Retirement Benefits has been operating for years as a voluntary registry where plan administrators can list participants with unclaimed benefits. While not comprehensive, it's worth checking this resource as part of your search process.
Step 6: Prepare Your Consolidation Strategy
Once you've located your forgotten DaVita 401(k), the next crucial step is developing a consolidation strategy that maximizes your retirement savings potential.
Understanding Your Options
OptionProsConsBest ForLeave in Current PlanFamiliar, no paperworkLimited investment options, ongoing feesVery large balances with low feesRoll to Current Employer 401(k)Consolidation, potential loan optionsLimited to current employer's investment menuActive employees with good current plansRoll to Traditional IRAUnlimited investment options, lower feesNo loan options, RMD requirementsMost retirees and job changersRoll to Roth IRATax-free growth, no RMDsImmediate tax liability on conversionThose expecting higher future tax rates
The Case for IRA Consolidation
For most people, rolling forgotten 401(k) accounts into a low-cost IRA provides the best combination of investment flexibility, fee reduction, and administrative simplicity. Nearly 70 million Americans held over $11 trillion in 401(k) and defined contribution accounts as of Q2 2024, but many of these accounts could benefit from consolidation. (Beagle Financial Services)
Diversification Benefits
Consolidating multiple retirement accounts into a single IRA allows you to implement a more sophisticated asset allocation strategy. Instead of having different investment mixes across multiple accounts, you can create one comprehensive portfolio that's properly diversified across asset classes, geographic regions, and investment styles.
Step 7: Execute the Rollover Process
Once you've decided on consolidation, the rollover process requires careful attention to detail to avoid taxes and penalties.
Direct vs. Indirect Rollovers
Direct Rollover (Recommended): The funds transfer directly from your old 401(k) to your new IRA without you ever touching the money. This method avoids the 20% mandatory withholding and the 60-day rollover deadline.
Indirect Rollover: You receive a check for your account balance (minus 20% withholding) and have 60 days to deposit the full amount into your new IRA. This method is riskier and more complex.
Sample Rollover Request Letter
Here's a template you can adapt for your rollover request:
[Date]
[Plan Administrator Name]
[Address]
Re: Direct Rollover Request for [Your Name], SSN: XXX-XX-XXXX
Dear Plan Administrator,
I am requesting a direct rollover of my entire 401(k) account balance from the DaVita Inc. 401(k) Plan to my Individual Retirement Account (IRA) at [New Custodian Name].
Employee Information:
- Full Name: [Your Full Legal Name]
- Social Security Number: XXX-XX-XXXX
- Date of Birth: [Your DOB]
- Employment Dates: [Start Date] to [End Date]
- Last Known Address During Employment: [Address]
Receiving IRA Information:
- Account Holder: [Your Name]
- IRA Custodian: [Custodian Name]
- Account Number: [IRA Account Number]
- Custodian Address: [Address]
- Routing Number: [If applicable]
Please process this as a direct trustee-to-trustee transfer to avoid any tax withholding. I understand that I may need to complete additional forms or provide further documentation.
Please contact me at [Phone Number] or [Email] if you need any additional information.
Sincerely,
[Your Signature]
[Your Printed Name]
Working with Financial Concierge Services
If the rollover process seems overwhelming, consider using a financial concierge service that specializes in retirement account transfers. These services can handle the paperwork, coordinate between custodians, and ensure the process completes smoothly.
Beagle Financial Services, for example, offers hassle-free 401(k)/IRA rollover services as part of their comprehensive retirement account management platform. (Beagle Financial Services) Their automated workflows can eliminate the paper-heavy process traditionally managed by custodians, making consolidation much more accessible for busy professionals.
Step 8: Optimize Your Consolidated Portfolio
After successfully consolidating your forgotten DaVita 401(k), focus on optimizing your new portfolio for long-term growth and risk management.
Modern Portfolio Management
With your retirement savings consolidated into a single IRA, you can implement sophisticated investment strategies that weren't possible with scattered accounts. Consider factors like:
• Asset Allocation: Age-appropriate mix of stocks, bonds, and alternative investments
• Geographic Diversification: Domestic and international exposure
• Cost Management: Focus on low-cost index funds and ETFs
• Tax Efficiency: Strategic placement of tax-inefficient investments
• Rebalancing: Regular portfolio maintenance to maintain target allocations
Robo-Advisory Solutions
Robo-advisors have become increasingly sophisticated, offering professional portfolio management at a fraction of traditional advisory fees. In 2024, robo-advisor assets were between $634 billion and $754 billion, representing a growing segment of the $36.8 trillion US retail market. (Morningstar)
While robo-advisors haven't replaced traditional financial planners as initially predicted, established firms have adopted their methods and dominated the market. (Morningstar) This evolution has created better, more affordable options for retirement savers.
Ongoing Account Management
Consolidation is just the beginning. Successful retirement planning requires ongoing attention to:
• Regular Contributions: Maximize annual IRA contribution limits
• Performance Monitoring: Track returns against appropriate benchmarks
• Fee Analysis: Ensure your investment costs remain competitive
• Strategic Adjustments: Adapt your strategy as your circumstances change
• Tax Planning: Consider Roth conversions during low-income years
Advanced Strategies for 2025
As you move forward with your consolidated retirement strategy, consider these advanced approaches that can further enhance your financial position.
Leveraging Technology Platforms
Fintech platforms like Beagle and Capitalize are designed to streamline the process of finding and consolidating old 401(k) accounts. (Beagle Financial Services) These platforms offer different approaches: Capitalize is 100% free to end-users and focuses on digitally shepherding assets into an IRA of your choice, while Beagle charges a modest membership fee and offers hidden-fee analysis, 0% net-interest loans, and robo-advisory portfolios. (Beagle Financial Services)
Understanding 0% Net-Interest Loans
One innovative feature offered by some modern retirement platforms is the ability to borrow against your consolidated retirement savings at 0% net interest. This means the interest you pay goes back into your own account, effectively creating a self-funded loan option that can provide liquidity without the traditional costs associated with retirement account loans.
The Portability Services Network
The Retirement Clearing House has created the Portability Services Network, which includes major providers like Fidelity, Vanguard, Empower, and Alight. (Wealth Management) This network enables smaller accounts to move from one provider to another rather than getting cashed out, helping preserve retirement savings that might otherwise be lost to early withdrawal penalties and taxes.
Common Pitfalls to Avoid
As you work through the process of recovering and consolidating your forgotten DaVita 401(k), be aware of these common mistakes that can derail your efforts or cost you money.
Timing Mistakes
• Missing the 60-Day Rule: If you choose an indirect rollover, you must complete the transfer within 60 days to avoid taxes and penalties
• Overlapping Tax Years: Be mindful of when rollovers occur relative to tax year boundaries
• Required Minimum Distribution Timing: If you're over 73, ensure you've taken required distributions before rolling over
Documentation Errors
• Incorrect Account Information: Double-check all account numbers, routing numbers, and custodian details
• Name Mismatches: Ensure your name appears identically on all documents
• Missing Signatures: Incomplete paperwork can delay transfers for weeks or months
Fee Traps
• Surrender Charges: Some insurance-based retirement products have surrender charges for early withdrawals
• Transfer Fees: Budget for potential fees charged by either the sending or receiving custodian
• Investment Minimums: Ensure your new IRA custodian can accommodate your account balance and investment preferences
The Broader Impact of Account Consolidation
Your decision to recover and consolidate your forgotten DaVita 401(k) contributes to a larger trend in retirement planning that benefits both individual savers and the broader financial system.
Industry-Wide Benefits
Both Beagle Financial and Capitalize aim to eliminate "orphaned" retirement money that gets stranded when you leave an employer. (Beagle Financial Services) By consolidating accounts, you're helping reduce the administrative burden on plan sponsors and creating more efficient capital allocation across the retirement system.
Personal Financial Health
Consolidation provides real-time visibility over all your retirement money, making it easier to:
• Track progress toward retirement goals
• Implement tax-efficient strategies
• Reduce overall investment costs
• Simplify estate planning
• Make informed decisions about retirement timing
Looking Forward: Retirement Planning in 2025 and Beyond
As you complete the process of recovering your forgotten DaVita 401(k) and implementing a consolidation strategy, consider how retirement planning continues to evolve.
Regulatory Changes
SECURE 2.0 and other legislative initiatives are making it easier for Americans to find and manage their retirement accounts. The new DOL database is just the beginning of what's likely to be continued government focus on reducing retirement account abandonment.
Technology Integration
Fintech solutions are making retirement account management more accessible and affordable. Automated workflows, AI-powered investment advice, and integrated financial planning tools are democratizing access to sophisticated retirement strategies that were once available only to wealthy investors.
Changing Work Patterns
As the gig economy grows and job tenure continues to decline, the ability to efficiently consolidate and manage multiple retirement accounts becomes increasingly important. The systems and strategies you implement today will serve you well as your career continues to evolve.
Conclusion
Recovering a forgotten DaVita 401(k) from 2018 and consolidating it in 2025 is not just about finding lost money—it's about taking control of your financial future and implementing a more strategic approach to retirement planning.
The process requires patience and attention to detail, but the potential benefits are substantial. By following the step-by-step approach outlined in this guide—from gathering your employment information to executing a consolidation strategy—you can transform a forgotten account into an active component of your retirement planning.
Remember that millions of Americans face the same challenge. As of May 2023, there were 29.2 million forgotten 401(k) accounts holding $1.65 trillion in retirement savings. (Beagle Financial Services) You're not alone in this process, and there are more resources available today than ever before to help you succeed.
Whether you choose to handle the process yourself using the tools and templates provided in this guide, or you decide to work with a professional service that specializes in retirement account recovery and consolidation, the important thing is to take action. Every month that passes with a forgotten account potentially means more fees, missed opportunities, and increased complexity.
Your future self will thank you for taking the time to recover and optimize these retirement savings. In an era where individuals bear increasing responsibility for their own retirement security, consolidating and actively managing your retirement accounts is one of the most impactful steps you can take toward a more secure financial future.
Frequently Asked Questions
How many Americans have forgotten 401(k) accounts and how much money is involved?
As of May 2023, there were approximately 29.2 million forgotten 401(k) accounts holding $1.65 trillion in retirement savings, representing about 25% of all 401(k) assets. This massive amount of unclaimed retirement money highlights how common it is for workers to lose track of their accounts when changing jobs.
What specific steps should I take to find my old DaVita 401(k) from 2018?
Start by contacting your former DaVita HR department with your full name, Social Security number, and employment dates. You can also search SEC Form 5500 filings to identify the plan administrator (likely Voya for DaVita accounts). Additionally, check the new DOL Retirement Savings Lost and Found Database launched in December 2024, and consider using specialized services like Beagle Financial that search multiple databases.
Should I use a fintech service like Beagle or Capitalize to find my forgotten 401(k)?
Both services can be helpful but work differently. Capitalize is 100% free and focuses on digitally shepherding assets into an IRA of your choice. Beagle charges a modest membership fee but offers additional services like hidden-fee analysis, 0% net-interest loans, and robo-advisory portfolios. Beagle specializes in "401(k) detective work" using technology to search Form 5500 filings and other databases.
Why is it important to consolidate old 401(k) accounts in 2025?
Consolidating accounts helps you avoid losing money to fees and missing growth opportunities. The typical American has three or more 401(k)s by mid-career and often loses track of at least one. With Americans changing jobs every 3.9 years (the lowest tenure since 2002), consolidation becomes crucial for managing your retirement savings effectively.
What new resources are available in 2025 to help find lost retirement accounts?
The U.S. Department of Labor launched the Retirement Savings Lost and Found Database on December 29, 2024, specifically designed to help individuals locate forgotten retirement accounts. This new government resource complements existing tools and services, making 2025 an ideal time to search for and consolidate old accounts.
How does the SECURE 2.0 Act help with finding lost retirement accounts?
SECURE 2.0 Act Section 303 directed the Department of Labor to create a "lost and found" database for retirement accounts within 2 years of enactment. This has resulted in improved systems like the Retirement Clearing House's Portability Services Network, which includes major providers like Fidelity, Vanguard, Empower, and Alight, enabling smaller accounts to move between providers rather than being cashed out.
Sources
4. https://www.bankrate.com/retirement/how-to-find-lost-401k/
5. https://www.employeefiduciary.com/blog/reclaim-retirement-plan
6. https://www.finder.com/retirement/beagle-review
7. https://www.morningstar.com/financial-advisors/best-robo-advisors