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Learn the Facts About Rollover IRAs

Rollover & Withdrawal Info     Early Withdrawals Consequences     View IRA Trading Permissions

Whether you are rolling over a 401(k) from an old job or transferring a Traditional IRA or Roth IRA from another firm; our rollover specialists are ready to help streamline the process and make it as easy as possible for you.ollover rules

How can I move my old retirement account to Place Trade?

The method that you will need to use in order to transfer your existing retirement account will depend on the specific type of account that you currently have as well as where it is currently held.  

 
   
If your 401(k) is held with your previous employer you will want to contact their HR department to see what they require before allowing you to transfer funds (nearly all employers have special requirements that you must adhere to). Please call us for assistance with setting up the right type of account and for the specific information that your former employer will need from us in order to transfer your account as quickly and easily as possible.  
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If you have an IRA or Roth IRA that you wish to roll over the traditional account transfer process is generally the way to go.  Either way we are here to help you through the process and answer any questions that you may have.  

 

Give us a call today at 1-800-50-PLACE and let our experienced rollover specialists get you rolling today!

 

More on Rollovers & Withdrawals:

 

An individual is permitted to move an investment from one type of retirement plan to another without incurring any tax liability. When an investor receives an IRA distribution check and reinvests it into another plan, it is considered a rollover.

To avoid paying taxes your distribution it must either be reinvested into the same IRA or rolled over to another qualified retirement plan within 60 days. This may only be done once every 12 months. The rollover rules apply to money contributed to an IRA and voluntary deductible contributions made to an employer's plan.  (IRA distributions may only be rolled over one time during a twelve month period.)

According to IRS regulations, if a rollover is initiated by a distribution from a qualified plan, the distributing firm must withhold 20% of the distribution for tax purposes. If the rollover is from IRA to IRA, the withholding rules do not apply. Please consult your tax advisor for details.

In addition to the federal tax withholding, you will likely have state taxes withheld as well.  If you happen to be under the age of 59 1/2 you may be responsible for a 10% penalty on any distribution that you take.

Please view IRS Publication 590, Individual Retirement Arrangements (IRAs) for complete details.

Get help reviewing your retirement account roll over options by calling our experienced retirement specialists at 1-919-719-7200 today!

Before taking money out of your retirement account - consider this: Many people don't think twice about taking money out of their 401(k)s to pay for "emergencies," to fix up a house, to pay off credit cards or even to go on vacation.

Major Consequence that are often overlooked by those taking the money out of their retirement account:

  • After all of the taxes and fees are withheld you may receive significantly less than you expected and you will likely suffer other consequences as well.
  • Regardless of good intentions most people are never able to make up the money that they have taken out (even though they started with the best intentions) and their retirement lifestyle can take a serious hit.
  • Your distribution is immediately treated as earned income for the current tax year.
  • While the IRS has already collected 20% at the time of your distribution you will still be required to pay any additional taxes due according to your tax bracket.
  • Worst of all; the additional "earned income (aka. the amount of your distribution) added to your current income may be enough to push you into a higher tax bracket causing you to pay even more in taxes on your entire year's income.
  • Treat taking money out of your retirement account (prematurely) as an absolute last resort. Be sure that it is a true emergency (like a life or death emergency) before you endanger your retirement.  It may seem like a long way off but it will be here before you know it and then you may wish that you had not made the choice to take the money out.
  • Be sure to talk with your tax advisor about all of the consequences of taking a distribution from your retirement account prior to taking what may feel like free money and running.
  • One final thought:  You can pay off debts over time, your children can get student loans to pay for college but you cannot get a loan to pay for retirement!

Please consider all other possibilities before taking this money out prematurely!

Trading Options in IRAs

Place Trade Financial allows option trading in IRAs upon approval. You must be approved for options trading in your IRA and have signed the appropriate option trading forms including, if retired, the Options Trading For Retired Persons Letter.

Learn more about what types of trading you can and cannot do in your IRA at Place Trade Financial: IRA Trading Permissions


Place Trade is simply the best place for you to rollover your IRA today!



Retirement plan specialists are available to help you assess your options and determine which retirement planning strategy best fits your needs.

 

   

Call us today at 919-719-7200 or 800-50-PLACE for more information!

   

Changing Jobs? What to Do With an Old 401(k) 

 

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  Trade Options | Margin IRA IRA Trading Permissions Get Advice or Trade Online Cashing Out your 401(k) Switching Jobs? View Options From Ramen to Retirement  

What can you do with your 401(k) when you change jobs? Get straightforward advice about your retirement plan options so you can make smart decisions! How to Roll Over Your 401k. 401k roll over
  Full service financial planning and investment advice is available to all of our US clients. Please speak with your full service financial professional regarding pricing for specific services. Full Service commissions and fees vary by products, services and Investment Company. Additionally, full service commissions are different from and are not included in the deep discount online trading commission schedules listed on this website.  

 

Make smart decisions with your old retirement plans today so that you can maximize your potential and get the most of your financial future!

 

Rollover your old 401(k) to a Place Trade Self-Directed IRA or Speak with one of our Experienced Financial Consultants to get Advice on your options or help develop a new financial plan.


Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.

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Learn more about retirement planning by visiting some of the links below:

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SEP IRA

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Traditional IRA

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Rollover IRAs

Find out how Place Trade can help you get the most out of your college planning by visiting some of the links below:


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529 College Savings Plans

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