IRA Rollover / IRA Transfer

It is crucial to avoid negative tax implications when performing an IRA Transfer or IRA Rollover. If performed properly, your IRA will maintain its tax deferred status and there will be no tax liability for a direct rollover or transfer. First, it is necessary to understand the difference in terminology.

What is an IRA Rollover?

An “IRA Rollover” or “Rollover IRA” is a tax free transfer of funds from a ex-employer’s retirement plan such as a 401k, 403b, 457, or Thrift Savings Plan to an IRA. An IRA Rollover occurs when an employee changes jobs or retires and as a result they are entitled to distribute or “rollover” their previous employer's retirement plan to an IRA.

Learn more about an IRA Rollover.

What is an IRA Transfer?

The term IRA Transfer is used to describe a transfer of assets from one IRA held at one financial institution to an IRA held by a different financial institution. An IRA Transfer from one financial institution to another via a custodian to custodian transfer is made tax free and there is no tax liability.

Learn more about an IRA Transfer.

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Disclosures:

*  The information on this page is for informational purposes only and does not constitute, and should not be construed as, professional, legal or tax advice. To determine your individual tax situation and specific needs, please consult a professional tax advisor.

* Information contained in these sections merely highlight some benefits. There are risks involved with all investments that could include tax penalties and risk/loss of principal.