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Move to another IRA. I currently have Rollover IRA with one…

Move to another IRA. I...
Move to another IRA. I currently have Rollover IRA with one investment company, and want to move all my funds to another investment company, and close the account with the first investment company. I am trying to avoid any mistakes, make the transition quick, and avoid paying any taxes. What type of IRA should I open with the new investment company? Should I transfer or roll over funds?
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Answered in 18 minutes by:
1/14/2018
Chad EA, CFP ®
Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Finance
Satisfied Customers: 1,430
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA
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Hello!

My name is***** will assist you today.

If the funds are pre taxed dollars, meaning the funds came from an old 401K or you received a tax deduction for the contributions then you have a traditional IRA. - In the scenario you outlined you are transferring funds.

The firm you are transferring the account to will assist you. You typically need to submit a copy of your last statement to the firm that is receiving your transfer and this assists the firm in reviewing your transfer instructions for any possible errors.

Please let me know if you have further questions concerning the transfer of your account.

Thank you!

Chad EA, CFP ®
Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Finance
Satisfied Customers: 1,430
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA
Verified
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Chad EA, CFP ®
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Category: Finance
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Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA

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