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Making the Most of Your Traditional IRA Rollover

Traditional IRA Rollover Cash Money IRA

A rollover of your Traditional IRA is possible once each year, which means that the IRA funds can be transferred without tax penalties between two institutions. Investors may also decide to use their current funds toward a self directed IRA.

Be aware that if you wish to take cash from your IRA before you reach retirement age, there will be financial penalties. Investment professionals will frequently advise investors that, when the time comes to perform a rollover, the investor opt for a direct rollover as opposed to an indirect one. The reason for this is that direct rollovers can be completed once annually free of penalties, but indirect rollovers may require the investor to pay early distribution penalties, and also often involve withholding requirements as well.

Transfers between two IRAs tend to be the most widely used practice when investors establish a self directed IRA. This can be achieved by establishing a new IRA account and custodian with the Internal Revenue Service; the custodian will then request that the first IRA transfers its exiting qualified funds to the new account. The custodian will then be able to accept the funds, with your consent, and to invest the money in accordance with your specifications.

Let’s compare the self directed IRA, Traditional IRA, 401k and other retirement accounts. Here, we have an info graphic which shows the ways that a Traditional IRA is similar to other retirement savings methods, as well as ways that each savings vehicle is different.

Plan TypeSponsorship2014 Contribution LimitRoth Option?Allow Gold Stocks?Allow Gold ETFs?Allow Gold Bullion
401(k)Private Employer$17,500 / $23,000YesMaybeMaybeNo
Solo 401(k)Self-employed$17,500 / $23,000YesYesYesYes
Keogh PlanSelf-employed or Unincorporated Employer$52,000NoMaybeMaybeNo
403(b)Government or Non-profit Employer$17,500 / $23,000YesMaybeMaybeNo
457(b)Government or Tax-exempt Employer$17,500 / $23,000YesMaybeMaybeNo
SIMPLE IRAPrivate Employer$12,000 / $14,500YesYesYesMaybe
SEP IRABusiness Owners & Self-employed$52,000YesYesYesMaybe
Profit Sharing PlanPrivate Employer$52,000NoMaybeNoNo
Money Purchase PlanPrivate Employer$52,000NoMaybeMaybeNo
AnnuityIndividualNoneNoMaybeMaybeNo
ESOPPrivate EmployerVariesYesMaybeNoNo
SARSEPPrivate Employer$52,000NoYesYesMaybe
Traditional IRAIndividual$5,500 / $6,500YesYesYesNo
Precious Metals IRAIndividual$5,500 / $6,500YesYesYesYes
Thrift Savings Plan (TSP)Government or Military$53,000NoNoNoNo
Please Note: The term “maybe” signifies that options for investing gold should be done at your plan provider’s discretion. For instance, some 401(k) plans do not offer GLD ETFs or gold mutual funds, but others do offer these.

Regal Assets is our Recommended Best or Investment Company

As illustrated in our Top Gold IRA Companies Reviews table, Regal Assets earns our first place recommendation.

Regal excels with stellar online and offline reputation. It scores the best ratings from the Better Business Bureau (BBB) and Business Consumer Alliance (BCA), the largest two review bureaus, and has the highest favorable reviews in TrustLink from its current client base.

Contact Regal Assets to learn more about setting your Gold 401k Rollover or Gold IRA Rollover:

Call (844) 402-2177 to request a FREE Gold Investment Kit

Review their Recommended Investment Packages

Complete your Gold IRA Setup Form

 

Christopher C. Odom
Christopher C. Odom is the Site Editor at Gold-IRA-Plan. In addition to a passion for all things related to a Gold IRA, and the , Christopher is also a multi-award-winning author and filmmaker whose works have screened in cities worldwide, including Cannes, Berlin, Tel Aviv, Los Angeles and New York.
Christopher C. Odom
Christopher C. Odom

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