401K to traditional IRA

Submitted by Gretchen Crigler on Mon, 2023-01-16 14:56

I did a direct rollover from an old 401K to a traditional IRA. I would like to transfer some of that money to another financial institution. I know that unlimited direct transfers are allowed, but is there any waiting period on the rollover? Do I have to leave it there for a year before I can do the transfer?



Submitted by Alan - IRA critic on Mon, 2023-01-16 15:08

  1. There is no waiting period. You can do direct IRA transfers anytime and as many as you wish.
  2. Note that transfers into or out of a SIMPLE IRA cannot be done until the SIMPLE IRA 2 year waiting period has been completed unless made between SIMPLE IRAs.

Submitted by Gretchen Crigler on Mon, 2023-01-16 15:29

Thank you for offering this resouce! I am just a consumer, but I have learned so much by reading through these posts.

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