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Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 962
Experience:  Certified Public Accountant
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I opened a retirement account while I was working and when I

Customer Question

I opened a retirement account while I was working and when I quit working, money still kept going in to the account. I was told that this account needs to be transferred, to a different type of account, but that the money that went in this year cannot. My credit union suggested I try to fiind someone who can help me do with the money that which would least penalize
JA: The Expert will know what to do. Is there anything else the Expert should be aware of?
Customer: I don't think so .. do you need to know the money involved?
Submitted: 1 month ago.
Category: Finance
Expert:  Mark Taylor replied 1 month ago.

Hi, my name is Mark. I will be happy to help you with your question. Please give me a moment to prepare your response.

Expert:  Mark Taylor replied 1 month ago.

You would need to set up an IRA account and have the money rolled over into this account. There would be no penalty if the money remains in the IRA account.