Rollin, Rollin, Rollin
Lyndsey Barnett
Can a traditional IRS be rolled into a Roth IRA? Yes, but a Roth IRA cannot be rolled into a traditional IRA. A SIMPLE IRA can be rolled into a SEP-IRA, but a SEP-IRA cannot be rolled into a SIMPLE-IRA. AHHHH! With all of the various types of plans and retirement accounts available today, the rollover rules are hard to keep straight. The IRS recently published a one page chart on its website that is a great summary of what types of retirement accounts may be rolled into other types of retirement accounts. If you deal with rollovers, it is definitely worth the cost of the paper you will print it on.
Can a traditional IRS be rolled into a Roth IRA? Yes, but a Roth IRA cannot be rolled into a traditional IRA. A SIMPLE IRA can be rolled into a SEP-IRA, but a SEP-IRA cannot be rolled into a SIMPLE-IRA. AHHHH! With all of the various types of plans and retirement accounts available today, the rollover rules are hard to keep straight. The IRS recently published a one page chart on its website that is a great summary of what types of retirement accounts may be rolled into other types of retirement accounts. If you deal with rollovers, it is definitely worth the cost of the paper you will print it on.
