Traditional IRA transfer to SIMPLE IRA

Submitted by Brian Kuhn on Tue, 2020-03-03 17:04

Can a person transfer a traditional IRA into a SIMPLE IRA? Thanks,



Submitted by Alan - IRA critic on Tue, 2020-03-03 17:30

Yes, but only after the SIMPLE IRA 2 year waiting period has been completed.

Submitted by Brian Kuhn on Tue, 2020-03-03 17:50

Is that 2 year waiting period on transferring OUT of the SIMPLE or INTO?  This would be moving a traditional IRA INTO the SIMPLE.

Submitted by Alan - IRA critic on Tue, 2020-03-03 18:46

It’s both, although there is an exception for transfers into a different SIMPLE IRA. Other than SIMPLE to SIMPLE no transfers are allowed into or out of a SIMPLE IRA for the 2 years starting with the date of the first SIMPLE IRA contribution.

Submitted by William Tuttle on Wed, 2020-03-04 05:36

  • Why would anyone want to rollover a traditional IRA to a SIMPLE IRA.
  • An individual can have a traditional IRA account at any number of excellent custodians with a wide range of low cost investment options.
  • SIMPLE IRA plans often have limited high cost investment options.

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