ISNHW Question

Submitted by James Lavorgna on Fri, 2020-12-11 18:52

Hi

Is it better to open new IRA and Roth IRA accounts when doing an In Service Non-hardship Withdrawal from a 401k or is it okay to use the client’s existing IRA and Roth IRA.

Thanks



Submitted by Alan - IRA critic on Fri, 2020-12-11 18:57

If client lives in a state that fully protects IRAs from creditors, and if client has no intention of rolling the pre tax portion back to the plan or a future plan, there is no reason not to do the direct rollovers to existing accounts.

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