Can Annuities Be Rolled Into An IRA? (Chesterland, OH)

Whether or not you can roll your annuity into an IRA, also known as an individual retirement arrangement depends on your type of annuity. In most cases, if you have a qualified annuity, an annuity, you make contributions to with pre-tax dollars, then yes, you can roll your annuity into an IRA. It is worth mentioning that your annuity is qualified. If you have a traditional 401k or 403 B plan, if you do decide to roll over your annuity, you can either roll over your funds directly through a transfer or indirectly through a qualifying withdrawal. On the other hand, if your annuity is non-qualified, meaning it was funded with after tax dollars, it cannot be transferred into an IRA. If you have a Roth 401k or Roth 403 B plan, for instance, your annuity is non-qualified and cannot be transferred into a traditional Ira Ira s can get tricky. So be sure to speak to your insurance agent or financial advisor about your options before making any financial decisions regarding your retirement planning.

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