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Author: wmmpayne88 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75379  
Subject: SEP-IRA to self directed?? Date: 10/27/1997 9:49 AM
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Currently have entire IRA in several different Vanguard funds which have just gotten to significant $ figure. While I like the returns, I want to try the Fool strategy with a portion of the money.

How would u go about setting up a self-directed IRA, using part of the existing Vanguard IRA monies.

Can you eliminate the 60 day tax consequences?
Any guidance is appreciated.


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Author: rayvt Big gold star, 5000 posts Top Favorite Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 544 of 75379
Subject: Re: SEP-IRA to self directed?? Date: 10/27/1997 11:40 AM
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Point your web browser to www.ameritrade.com, and find the "Apply for a New Account" page. Fill it out. There's a form for transferring all or part of your account with another broker or mutual fund---fill this out. All easy & automatically taken care of. In 2-3 weeks your money will be transferred. Since it's a custodian to custodian transfer, 60 day period does not apply.
Ray


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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 546 of 75379
Subject: Re: SEP-IRA to self directed?? Date: 10/27/1997 4:31 PM
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Greetings, wmmpayne88, and welcome to Fooldom.

<<Currently have entire IRA in several different Vanguard funds which have just gotten to significant $ figure. While I like the returns, I want to try the Fool strategy with a portion of the money.

How would u go about setting up a self-directed IRA, using part of the existing Vanguard IRA monies. Can you eliminate the 60 day tax consequences? .>>

Rayvt outlined one way you may arrange for a direct transfer of funds from one IRA to another. If Ameritrade isn't your choice, then simply contact the broker you wish to use and tell that agency what you want to do. That office will send you the necessary forms, you complete and return them, and then sit back. In three weeks or so, your new account will be all set up and ready for your trades.

Another way is to notify Vanguard you wish to have a specific amount or all of your funds sent to you for further rollover to another IRA. Instruct Vanguard not to withhold any taxes. Vanguard will then send you a check. You, in turn, ensure it gets into your new IRA with your broker within 60 days of receipt.

Any of the methods will work.

Regards…….Pixy




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