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We make it easy to bring your IRAs together to help make tracking and managing your investments easier.
There are three types of transactions involved with moving your retirement funds (IRA, 401K, section 457, TSA, etc.).
- Trustee Transfer - IRA funds are moved between financial institutions for you, you never take receipt of the funds
- Direct Rollover - A direct rollover is the movement of funds from an employer-qualified plan to a Traditional IRA (direct rollover may be permitted to a Roth IRA)
- Indirect Rollover - Funds are moved from a retirement plan at one financial institution, to a retirement plan at another financial institution. You will receive a check for the funds and at tax time you will be required to show that the funds deposited into another qualified plan. After moving IRA funds by this method, you must wait 365 days to do it again by this same method. Check with your tax advisor before initiating this type of transaction.
Before initiating any retirement funds transfer, it's important to check with your current financial IRA custodian/trustee to find out if any fees or penalties are associated with these transactions.
