Permalink Submitted by Alan - IRA critic on Fri, 2016-04-29 20:57
The IRA annuity can be transfered to a regular IRA or vice versa. It would mean that client would either have both balances in an IRA annuity or both balances in a regular IRA account. The insurance company issuing the IRA annuity could charge surrender fees for closing the IRA annuity. Of course, it the IRA annuity has been annuitized, then it must remain separate.
Permalink Submitted by Alan - IRA critic on Fri, 2016-04-29 18:55
Sec 408b is an individual retirement annuity and it can be transferred or rolled over to a 408a which is the much more common non annuity IRA account.
Permalink Submitted by Douglas Bauerband on Fri, 2016-04-29 19:44
the client wants to combine her ira and 408b. so if the 408b cant be transferred or rolled over to an IRA, can the IRA be transferred into the 408b?
Permalink Submitted by Alan - IRA critic on Fri, 2016-04-29 20:57
The IRA annuity can be transfered to a regular IRA or vice versa. It would mean that client would either have both balances in an IRA annuity or both balances in a regular IRA account. The insurance company issuing the IRA annuity could charge surrender fees for closing the IRA annuity. Of course, it the IRA annuity has been annuitized, then it must remain separate.