IRA TRANSFER TO 401K Clarification
Suppose i have an IRA that i have contributed to annually, and now my employer is offering a 401K plan, “can i roll/transfer my ira to the 401K”…all of the IRA account has been self funded.
Suppose i have an IRA that i have contributed to annually, and now my employer is offering a 401K plan, “can i roll/transfer my ira to the 401K”…all of the IRA account has been self funded.
Permalink Submitted by David Mertz on Fri, 2024-03-08 21:45
Only pre-tax funds in your traditional IRAs are permitted to be rolled over to the 401(k), not any part of your basis in nondeductible traditional IRA contributions that you might have. However, the 401(k) plan is not required to accept rollovers, so check with the employer’s plan before initiating any rollover to the plan.