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Subject:  Re: Maturing Roth CD - Transfer to other account Date:  1/2/2014  4:37 PM
Author:  pauleckler Number:  74049 of 88418

The usual procedure is to contact the custodian you want to receive the funds and ask them to arrange the transfer. Usually there is some paperwork to fill out, and they do the rest.

Yes, you want to transfer to occur after the CD expires. It can take several days for the transfer to occur, but your mutual fund company should know how to do it.

If the CD automatically renews and you then cash it in, what are the penalties? Usually it is loss of interest for the quarter. No big deal. But you might want to call the bank and advise that you do not want to let it renew automatically and instead to hold the funds for further instructions.
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