How do I rollover my IRA?
An example of an AI chatbot conversation about rolling over an IRA.
How do I rollover my IRA?
Rolling over an IRA involves transferring funds from one retirement account to another. Are you looking to move it to a new IRA or a different type of account?
I want to move it to a new IRA.
Great! First, you'll need to contact the financial institution where your new IRA is held. They can provide you with the necessary forms to initiate the rollover.
Are there any tax implications I should be aware of?
Yes, if done correctly, a rollover can be tax-free. However, if you withdraw the funds and don't deposit them into the new IRA within 60 days, it may be considered a taxable distribution.
What types of IRAs can I rollover into?
You can rollover into a Traditional IRA, Roth IRA, or even a 401(k) if your plan allows it. Each has different rules and tax implications.
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