Whether you are rolling over a 401(k) from an old job or a Traditional 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.

Give us a call today at 1-800-50-PLACE and we will help you review your options and if you would prefer we will help you with the paperwork!

Depending on the type of account that you have or where it is currently held will tell what you need to do to move your account to Place Trade.

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.)

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.

More on Rollovers:

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 be 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.

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 will be responsible for a 10% penalty on any distribution that you take.

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.

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.

Place Trade Financial allows the following option strategies in an IRA: calls and puts, covered calls, and cash covered naked puts and spreads.