"jIM" <noreplysoccer[at]hotmail.com> writes:

- quote -

That distinction is gone, actually. Or more precisely, commingling
rollover and contributory funds no longer eliminates your ability
to roll the rolled-over funds back into a qualified employer plan.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

LavaDude <mikioi[at]TAKEOUTgte.net> writes:

- quote -

First, ring up your old employer and/or the 401(k) custodian and ask
them to send you the requisite forms to roll the 401(k) into an IRA.
Once the blank forms arrive, ring up the institution where the IRA
is/will be and ask them what names/instructions/routing numbers/ wire
transfer codes you need to put on the rollover form so that when the
401(k) custodian sends the money, it goes to the right place.
Finally, send the paperwork to the 401(k) custodian and wait for the
transfer to happen. Oh, and make sure to request a "direct rollover"
or "trustee-to-trustee" rollover.

- quote -

A "rollover" or "conduit" IRA is a traditional IRA. It has the
rollover/conduit designation because pre-200X, you had to keep rolled
over money in a separate trad IRA account if you wanted to maintain
the ability to roll it back into a qualified employer plan. That
distinction has since been abolished and I believe there is no longer
any reason to avoid commingling rollover and contributory funds.

- quote -

If you are eligible to convert a trad IRA to a Roth IRA, you pay full
income tax (but not penalty) on the amount converted. To be eligible,
your modified adjusted gross income must be $100,000 or less.

- quote -

Yes.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

1) contact a custodian, like T Rowe price, and fill out a rollover
application.

2) the rollover and traditional IRA are NOT the same. The differences
are the traditional IRA you have may or may not have had taxes paid on
it (was this a deductable traditional IRA or non deductable traditional
IRA?). The rollover is "almost identical" to a deductable traditional
IRA. The biggest difference would be a traditional IRA cannot be
rolled into a 401k, where as a rollover IRA could be moved into a 401k
if the 401k plan allows it and you choose to do this.

3) there are no "penalities" for taking a rollover IRA and converting
it to a Roth. As long as you don't consider paying taxes a penalty as
you indicated in your original post. This would be known to your
custodian as a Roth Conversion in most probability.

4) yes, traditional IRAs can have it's assetts move into and out of the
market similar to how you described your Roth IRA in question #3.

speak to a professional or read up on this. I have had to go through
this process once on a pension plan which was distributed to me when my
employer was sold off (rolled this into a rollover IRA, then converted
to a Roth after the rollover). I did not need a professional, as T
Rowe Price helped me with the whole thing.

Hi All...

I have a 401K with a past employer and it's currently placed in a
conservative account - basically put in a coffee can - in other words
doesn't earn much interest... Anyway, here's a few questions that I have:

1) How do I go about getting this money and placing it into a rollover IRA.
2) Is a rollover IRA the same as a traditional IRA?
3) I have a Roth IRA in which I invest/trade the money (buy/sell stocks).
Are there penalties for moving from a rollover IRA to a Roth IRA? or is it
just the taxes... How much taxes are we talking about?
4) In traditional IRAs, can the funds be moved in and out of the market or
mutual funds?

Thanks in advance!
LavaDude