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Financial Planning / Foolish 401(k)s


Subject:  Re: 401k rollover to IRA Date:  4/27/2000  1:04 AM
Author:  TMFExRO Number:  7542 of 26142

<< An ex-employee called and asked, is there a specific type of IRA account that she needs to roll her 401k into? I said I did not think so,but thought it would be a good question for my first foray on the message board. >>

The only tax-law absolute is that it must be a traditional IRA--can't be a Roth IRA. You've already been told about conduit IRAs. You can refer her to IRS Publication 590 for general information about IRAs.

Now for the fun part. This may not be the question she's asking. She might be wondering whether it has to be a mutual fund, bank, etc. Over on the Tax Strategies board we get lots of weird questions about IRAs. If you don't feel comfortable when you talk to her again, come on back.

Phil Marti
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