2006-08-27 12:32:21 · 8 answers · asked by Ned Flanders 1 in Business & Finance ➔ Personal Finance
No, rollovers do not count against the annual IRA contribution limit, which in 2006 is $4,000 or $4,500 if you are over age 50.
2006-08-27 12:54:44 · answer #1 · answered by Jamestheflame 4 · 0⤊ 0⤋
No, the contribution limit is an annual limit, if you roll a 401(K) into an IRA, that doesn't count as part of an annual contribution, you are just moving tax-deferred funds around.
Congratulations on being one of the smart ones, so many fools cash out their 401(k)s when they have the opportunity and lose untold fortunes in potential future growth!
Good luck, and have a wealthy retirement, however far off it might seem now!
2006-08-27 13:19:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There are 2 factors to your question. The 401k plan or a Roth IRA are basically mechanisms to administration your earnings tax responsibilities. There additionally are Roth 401k plans. even if in case you pick one plan over yet another is in accordance with while does it make the main experience to pay your earnings taxes, now while you're in a low marginal fee earnings tax bracket (say 15%) now or once you retire and initiate chickening out the money. danger is predicated on the investment recommendations which you pick. you are able to pick a superb extra riskier investment determination in a Roth IRA basically as actual. The serious element is while you're chasing intense rewards or returns, you will journey better volatility or danger. it truly is advisable to flow over your investment possibilities with the representative of the 401k plan administrator to enhance a finished plan that suits your danger tolerance. The 401k representative might desire to be authorized to offer education the place the IRA provider has regulations on how plenty suggestion that they are in a position to grant specific to your concern.
2016-11-05 22:08:34 · answer #3 · answered by powelson 4 · 0⤊ 0⤋
No. But it will count as a taxable distribution if you get a check cut and don't deposit it into a qualified plan w/i 60 days.
2006-08-27 12:42:43 · answer #4 · answered by PO'd 2 · 0⤊ 0⤋
No
Rollover have nothing to do with your regular IRA
2006-08-27 19:27:06 · answer #5 · answered by Hoa N 6 · 0⤊ 0⤋
Nope!
2006-08-27 13:04:40 · answer #6 · answered by Russ 2 · 0⤊ 0⤋
No, E-Trade told me it did NOT and I did it last year. No problem.
2006-08-27 12:36:55 · answer #7 · answered by Anonymous · 0⤊ 0⤋
No.
2006-08-27 12:36:33 · answer #8 · answered by Y Answerer 6 · 0⤊ 0⤋