Simple IRA rollovers may sound complicated, but they’re actually quite easy to manage, as long as you select a good account provider. In fact, there are three things you’ll want to consider when choosing a new provider to handle your Simple IRA rollover. Keeping these factors in mind will help you make the best choices for your Simple IRA rollover process and long term retirement goals. (more…)
Posts Tagged ‘Simple IRA Account’
Simple IRA Rollover Rules and Distribution Tips
Posted by admin on May 4th, 2010
Don’t choose just any old rollover – choose a Simple IRA direct rollover. A direct rollover is defined as the transfer of money from one account directly to another without the money going through the hands of the account holder. You have to initiate this rollover procedure with the manager of the target account, and you have to conform to all rollover rules of the Simple IRA account, as well as pertinent state and federal regulations. (more…)
Setting Up Your New Simple IRA Rollover Account
Posted by admin on May 1st, 2010
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…)
What Types of Accounts is Eligible for a Simple IRA Rollover?
Posted by admin on April 26th, 2010
If you have a pre-existing IRA or rollover 401k plan and you’re thinking about transferring the funds into a Simple IRA rollover plan, you’re probably wondering whether or not there are any restrictions or exclusions on rollovers completed to these plans. Unfortunately, the truth is that you can’t rollover a Roth IRA, an SEP IRA or a traditional IRA into a Simple IRA account. Nor can you complete a Simple IRA rollover if you’re planning on moving money from a pre-existing 401k rollover plan. The only type of IRA that can receive monies in a rollover from a Simple IRA is another Simple IRA plan. (more…)
