Greetings, Ducke, and welcome. You asked:<<A company I worker for several years ago went out of business, they had a profit sharing plan in place which they paid out when they closed. I rolled the money over into several mutual funds.None of the money came from myself it was all from the employer and no taxes have ever been paid on it. I would like to take some of the money and invest it in stocks of the dow 4. My question is can I do this and how do I go about it? Thank You for some help and advice.>>The profit sharing money is now sitting in what's called a conduit or rollover IRA in each of the funds you selected some years ago. If you now want to invest in stocks instead of funds, all you have to do is contact the broker of your choice to set up what's called a self-directed IRA that will be funded by the money now in one or more of your existing rollover IRAs. The broker will send you two forms, a basic application and a transfer form. The application gets the self-directed IRA established with the broker, and the transfer form instructs the custodian(s) of your existing IRA(s) to cash in those account(s) and send the proceeds to your new IRA. The latter step is called a direct transfer and avoids any and all potential for tax problems. Complete those forms and return them to your broker. In 20 to 45 days your old IRA(s) will be history and your new self-directed IRA will be ready for you to trade at will.Regards….Pixy
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