Old Pension rollover into Roth
I received a letter from Coke from an old pension I had at one of the Coca-Cola distributors I had worked at, I have chosen to take a lump sum roll over into my own Roth IRA, approximately $3,500.
They will send me the check made out to TradeKing FBO of me — my question is:
Does this $3500 count towards my contribution limit of $6500. per year??
THX
Permalink Submitted by Alan - IRA critic on Sat, 2016-12-31 20:43
No, a rollover contribution or Roth conversion does not use up any of the regular contribution limit. Note-the direct rollover check should be made out to TradeKing FBO your Roth IRA, not FBO you individually.