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Legalease, Lawyer
Category: Legal
Satisfied Customers: 16367
Experience:  15 years exp all aspects of general law
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O withdraw my funds from financial. my acct has been growing

Customer Question

o withdraw my funds from ***** ***** financial. my acct has been growing for many yrs.question is can they charge me interest?
JA: What state are you in? It matters because laws vary by location.
Customer: az.
JA: Has anything been filed or reported?
Customer: no
JA: Anything else you want the lawyer to know before I connect you?
Customer: no
Submitted: 9 months ago.
Category: Legal
Expert:  Legalease replied 9 months ago.

Hello there --


They cannot charge you interest but there is generally a fee in order to cash out all or a portion of the account because the money is generally invested in stocks and bonds and they have to sell some of them to pay you out any cash. There may also be tax consequences if you withdraw this money before the age of 59 1/2 and it was a pre tax retirement account.


Do you have any further questions for me? If not, can you please press a positive rating above in the rating section so I will be given credit for my time (the middle star and the fourth or fifth star to the right of the middle star is a positive rating). THANK YOU VERY MUCH