Can anyone tell me the reasoning for not allowing an annuity to be transferred to an IRA account without a 10% tax penalty. If this is a retirement annuity, I don't see any reason why you can't roll it into another form of traditional IRA. (If it's not a retirement annuity, you can't move it into an IRA at all.) Are we talking about a tax penalty or a forfeiture penalty imposed by the annutiy?TMF ExROPhil Marti
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