Stupid Rollover IRA question
I have rolled over his 401k into an IRA my question is can I contribute to that 401K, I am not interested in making it a conduit IRA and rolling it into my employer’s 401K program – or should I open a new IRA and keep these funds separate.
Permalink Submitted by Alan - IRA critic on Wed, 2014-05-28 21:37
I would only place the 401k rollover into a new IRA account if it is large and your state does not shield IRA accounts from creditors. Otherwise, it can be rolled into an existing IRA and you could also make new IRA contributions into the same account.