If you have a Simple IRA and are moving to a new company, you’re going to want to take your investments with you when you leave. This is possible, but there are some limitations that you’ll first need to take into consideration before making any decisions on your Simple IRA rollover. For example, if your Simple IRA account has been open for less than two years, you won’t be able to rollover the account without serious penalties of up to 35% percent of the total account balance. As this can significantly damage your retirement holdings, you may need to wait to complete the Simple IRA rollover to your new account until the two years have elapsed. (more…)
Posts Tagged ‘IRA Rollover Account’
How to Set Up a Direct Transfer to Your Simple IRA Rollover Account
Posted by admin on April 30th, 2010
Direct IRA transfers – also called IRA rollovers – are generally the preferred method for rollover money from one retirement account to another. If you’re performing a Simple IRA rollover that moves money from one account to another, you’ll want to request a direct transfer or rollover. (more…)
