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

Here’s the reformatted and reorganized content for better readability, with any grammar and clarity issues addressed:

Adding an Account in Quicken

To add an account in Quicken:

Select the Add Account icon at the top right of the Account Bar.
Alternatively, go to Tools → Add Account in the top menu.
If the financial institution managing your 401(k)/403(b) is available online:
- Use the search function to find your institution.
- Otherwise, select Offline Account → 401(k).
Follow the on-screen instructions.

Simple Setup Wizard

During the account setup process, the pages you see depend on the type of account being added and how much information Quicken can download from your financial institution. Below are common steps and tips for Simple Setup.

Step 1: Select the Account Type

Choose the type of account you want to add.

Step 2: Enter Your Bank or Brokerage Name

If listed, click the name of your bank or brokerage.
If not listed:
1. Start typing its name, and Quicken will display a list of matches.
2. If it still doesn't appear, click Back and try again.

What If I Can’t Find My Bank?

If your bank or brokerage isn’t listed or you want to enter transactions manually:

Select Advanced Setup and choose I want to enter my transactions manually.

Why Does Quicken Ask for My Bank Name?

Quicken uses your bank or brokerage name to determine if it can download transactions for you. If no name is provided, transactions must be entered manually.

Additional Account Setup Options

Currency Selection (Optional)

If you have enabled Quicken to track multiple currencies:

Select the appropriate currency from the list.
Note: You can change the currency only if no transactions (besides the opening balance) have been entered.

User ID and Password

Quicken requires your bank or brokerage login credentials to download account information.

Direct Connect: If your financial institution provided a unique ID and password for Quicken, use these details.
Website Credentials: If no special instructions were provided, use the same login you use on the institution's website.
Password Visibility: Select the Show Characters box to view your password while typing.

Password Vault

Passwords can be saved securely in Quicken’s Password Vault for convenient access. The Password Vault uses industry-standard encryption and can be managed from Quicken at any time.

Advanced Account Details

Account Type or Branch

Sometimes Quicken needs more details, such as:

Account Type: Choose checking, savings, credit card, or other applicable account types.
State or Location: If your financial institution lists states or regions, select the appropriate one.
Bank Mergers: If your bank merged, select its pre-merger name if listed.

If you’re unsure, contact your bank or brokerage for guidance.

Handling Accounts Found by Quicken

Once Quicken detects accounts at your financial institution, it will prompt you to decide:

Add: Create a new Quicken account to download transactions.
Link: Connect transactions to an existing Quicken account.
Ignore: Skip setting up the account in Quicken.

Nickname (Optional)

You can assign a nickname to the account for easy identification in Quicken. If no nickname is provided, Quicken will use the name from your financial institution.

Usage Type

For Quicken Business & Personal, specify the account’s primary use:

Personal (default)
Business
Rental Property

Confirmation and Syncing

After adding the account:

Quicken provides a confirmation screen, detailing any next steps required.
If enabled, you’ll see an option to sync the account with Quicken Cloud for Mobile/Alerts.

To enable mobile notifications or access accounts on mobile:

Go to the Mobile and Web tab and follow the instructions.

Advanced Setup Wizard

For more detailed customization or manual entry, use Advanced Setup. Steps include:

Account Naming

Use descriptive names to distinguish accounts (e.g., "401(k) for Terry").
Avoid special characters such as [, ], /, :, |, or ^.

Employer and Loan Information (401(k)/403(b) Accounts)

Provide your employer's name and specify whether it is current or former.
Indicate if you have any loans against the account and, if so, enter details such as the original loan amount and current balance.

Securities

Enter details for each security:
- Ticker Symbol: Use the lookup tool if unsure.
- Security Name: Required if no ticker symbol is available (e.g., proprietary securities).
- Holdings: Include the number of shares and total market value.

Setup Summary

Review your setup:

Verify the statement date.
Check that all securities are listed.
Go back to correct any errors if necessary.

When complete, Quicken provides graphs and reports in the 401(k) Summary tab.

Notes on 401(k)/403(b) Accounts

Tax Impact Account: Quicken creates a special tax impact account for retirement accounts to track transactions affecting your taxes (e.g., early withdrawals). These are visible in tax reports but should not be edited or deleted.
Roth 401(k): There is currently no dedicated option for Roth 401(k) accounts.

Summary of Changes:

Organized content into clear sections with appropriate headings and subheadings.
Standardized terminology (e.g., "Quicken Cloud" instead of variations).
Corrected grammatical issues and typos (e.g., "the account appears" duplication under Usage Type).
Improved sentence flow for clarity and conciseness.

Note for our Canadian Customers

The following terms will be different in the Canadian releases of Quicken.

Canada: "Cheque" / United States: "Check"
Canada: "Colour" / United States: "Color"
Canada: "Centre" / United States: "Center"
Canada: "Realise" / United States: "Realize"
Canada: "Behaviour" / United States: "Behavior"
Canada: "Analyse" / United States: "Analyze"