Ira Rollover Transfer
June 12th, 2008
Question: 401k to IRA rollover?
I want to transfer my 401k assets into my personal IRA. I want to do this because I want to have the freedom of investing wherever I want. I am still at the same job and will continue at the same place. Are the penalty & tax free rollovers only applicable for the people who leave their old jobs? Or is it open to everybody?
Answer: Rollovers taxfree from 401K’s to traditional IRA’s are allowed by law. But most 401K plans only allow withdrawals if you leave the job, or in other very limited situations. Check what your plan allows, but it probably doesn’t let you take it out to put in some other plan like an IRA while you’re still employed there.
Can I Transfer Old IRA/401K Funds Into MY SD IRA/401K?
Posted in 
Tags: