When is the prior custodian required to send money to new custodian?

[Guest chris4013]

Prior TPA company is upset with our new client, and has suggested that they will not delvier assets to us on the date that they previsouly communicated to us. When are they required to deliver assets?

[SoCalActuary]

Can you scream "fiduciary liability" at them?

Seriously, they have now taken on roll of holding plan assets against the wishes of the newly appointed TPA. Does your lawyer need to discuss this with their lawyer?

Of course, the old TPA may have a legitimate defense, such as unpaid fees, irregularities in accounts, etc.

[mbozek]

Why not look in the agreement between the TPA and client to see when assets must be transferred.

[david rigby]

...against the wishes of the newly appointed TPA.

Who cares what the wishes of the TPA are?

Has the plan sponsor/plan administrator/trustee communicated that the assets should be transferred from A to B? Has the prior custodian acknowledged and promised compliance? If so, see above responses.

[SoCalActuary]

Typing in a hurry I meant the "role of ... the plan administrator"