Rollover Resources
Features of a Rollover IRA
| Features | Description |
| Highlights | A Rollover IRA allows individuals to move their assets from another IRS approved retirement plan, including 401(k), 403(b), and 457 and continue to accrue tax-deferred earnings. Assets must be reinvested in the Rollover IRA within 60 days. Assets from various plans and IRAs may be commingled for easier management. |
| Eligibility | Almost any distribution from a qualified plan can be rolled over to an IRA (exceptions include: mandatory distributions, distributions on amounts that exceeded limits, non-spousal death benefit distributions and hardship withdrawals) |
| Contribution Limits | No limits on rollover amount |
| Tax Advantages | Rollover contributions remain tax-deferred and additional earnings accumulate tax-deferred |
| Withdrawals -Taxation |
Any withdrawals (except non-deductible contributions) are taxed as regular income |
| -Timing | Withdrawals may be taken without penalty in certain situations, including:
|
| -Required Distributions | Minimum distributions must be taken beginning at age 70½ Note: To calculate Required Minimum Distribution use our online RMD calculator |
| Deadline to Establish | Within 60 days of distribution of assets |
| Deadline for Contributions | Rollovers can be made at any time provided that the rollover is completed within 60 days of receipt of the last asset |
