Traditional IRA Rollover:

Rolling Over an IRA



What is an IRA Rollover?
An IRA is a savings account, usually for retirement, set up so your income will be tax deferred. An IRA rollover is usually the process of taking money from one account and depositing it into an IRA. If you want to rollover money from an IRA into another account, please see the pages for that particular account:

401k Rollovers - 403b Rollovers

Roth IRA Rollovers - Roth 401k Rollovers


Setting Up an IRA Rollover
As you plan your IRA rollover, you will need to make all the arrangements beforehand to reduce or eliminate any penalties and tax obligations involved by arranging it as a direct rollover. Regardless of the account the money is coming from, you do not want to actually receive a payment. The best course of action is to set up your IRA in advance of the need (at least 30 days before the rollover date) then make the arrangements for an immediate, direct transfer of funds into that new IRA.

IRA Rollover Rules
The rules for an IRA rollover are pretty simple. If you have an account that is reaching maturity or maximum balance, you set up the destination IRA to receive the money from the old account. (The IRS allows 60 days for the transfer) Then, when the time is appropriate, you simply have the money transferred straight into the new account. This is the easiest and safest of ways to initiate an IRA rollover.

The Importance of Timing in IRA Rollovers
Because of the 60 day rule mentioned above, you will be better served if you have your new account set up in advance of the time you need to rollover your savings. We recommend using a direct rollover strategy for your IRA rollover, because it is the safest and best way to handle most rollovers. Please contact one of our rollover specialists for a free IRA rollover consultation.

Get Some Free IRA Rollover Advice
It can be expensive to get a financial strategist to help you plan the rollovers and management of your retirement accounts. If possible, seek guidance from a professional IRA rollover specialist that will offer free consultations. Of course, we offer these free financial needs consultations and have many specialists in IRA rollovers ready to advise and assist you for free. Start by using the form above and we'll be in touch right away.

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