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Greetings, Paco, and welcome. You asked:

<<My wife has a SEP (that was turned into an IRA) from a job she left 5 years ago. The account is doing OK, but I think I could do better with a stock account.
1. Is there a time limit to rollover (or transfer to an online broker) an account?
2. After transfering to an online brokerage, I will be able to sell the mutuals and buy stock with it, won't I?>>

If your wife does a direct transfer between her existing IRA to the new one at a broker of her choice, then there is no time limit. If instead she gets the money from the old IRA, then she must get that money into the new IRA no later than 60 days after she receives the check. The absolute safest course is to do the direct transfer between custodians. Any broker can guide her through that process if she asks.

For fee purposes, she should almost certainly sell the funds before transfer and move cash only. In fact, many funds will demand she do exactly that. If sold by a broker, though, and assuming the fund shares can be moved there, then the broker will almost always charge a commission on that sale. Thus, it's usually better to sell the shares first and move the cash. Once the money is in the broker's account, she may trade in individual stocks at will.

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