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Rules and Limitations of 401k Plan Rollover

401k Hand Writing Rules 1 2 3

In case you possess a 401k, you can turn them into an IRA or any other kind of plan that is qualified for a rollover, without about tax penalties. Below you will find an assessment of some 401(k) rollover regulations:

You got 60 days to complete the rollover after you get the funds from your 401(k) plan. The IRS will handle your cash as taxable distribution in case you don’t complete the task in time. Moreover, the IRS will also include a 10% penalty on the withdrawal besides the normal income taxation in case you are not 59 and half years old.

You can roll your 401(k) plan into an IRA only once per year. The time period starts in the same day when you get your 401(k) distribution. You get the same period for each IRA that you possess.

Buying investments in the period in between obtaining 401(k) distribution and creating your IRA is prohibited if you want to use the money from your distribution.

It’s recommended that you pick the option to do a “direct rollover” with your 401k cash. You will never get a check for your distribution in case you select this option. The money will be transferred straight into your new IRA plan.

401k Plan vs IRA vs 403b vs Other Retirement Plans

Below you will find a table that helps you differentiate 401(k) plans from other retirement vehicles.

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
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
Note: The fact that the gold investment options are selected by the plan provider is indicated by the word “maybe”. While a couple of 401(k)s provide gold mutual funds or ETFs for example, other do not.

Regal Assets is our Recommended Best Gold 401k Rollover or Gold IRA 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, Top Gold IRA Companies Reviews and the Best Gold IRA Rollover, 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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