How to Rollover an IRA Into Another Account

Prior to 2001, a traditional IRA holder could only roll, or convert, assets into another IRA. He could not roll them into an employer-sponsored plan, like a 401(k), for example. The Economic Growth and Tax Relief Reconciliation Act brought about greater freedom to roll one type of retirement account into another. As of 2012, however, you cannot roll a traditional IRA into a SIMPLE IRA or a designated Roth account. Further, a Roth IRA can only be rolled into another Roth IRA.

Step 1

Contact your IRA trustee to request a trustee-to-trustee rollover, also known as a conversion. You may have to fill out a distribution or account closing form, depending on whether you are moving the entire balance to the other account. You might also have to pay an IRA account closing fee.

Step 2

Fill out the forms with your identifying information. Provide the institution name and the number of the "transfer-to" account.

Step 3

Check with the "transfer-to" institution to confirm that the rollover was completed.

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