VA IRAs
Can a client ‘roll’ money from an IRA (in a variable annuity) to a new custodian as just a plain jane Rollover IRA – not another variable annuity product?
Can a client ‘roll’ money from an IRA (in a variable annuity) to a new custodian as just a plain jane Rollover IRA – not another variable annuity product?
Permalink Submitted by Alan Spross on Wed, 2008-05-28 21:16
Yes, but they might face surrender charges and possibly other misc exit charges to separate from the annuity/insurer.
Permalink Submitted by Al Fry on Thu, 2008-05-29 15:44
And as long as the VA is not annuitized.
Permalink Submitted by David J Chapman, CFP on Thu, 2008-05-29 15:48
Does it matter if the IRA is a SEP IRA – still in a variable annuity?
Permalink Submitted by Al Fry on Thu, 2008-05-29 17:13
No.