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Author: philobeddoe One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 81641  
Subject: Xferring one IRA to Another Date: 10/8/1999 2:57 AM
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I am very new to this so bear (heh) with me! I worked for company X for a couple of years and earned like $4000 from their 401k. After quitting the company, I transferred that money to an AMEX IRA (New Dimension Fund) that the broker wasa friend of my parents. This xfer cost me around $400 all said and done. Now I have moved to an area where this broker does not have a license. I've been lurking here for a coupla hours now, and visited several sites to request info. Question is, if I were to move this Amex IRA to a Vangaurd Roth IRA would I be hit with another % commission fee as well as having to pay taxes or would this be a tax free money xfer. I am very unimpressed with my IRA currently (this guy doesn't even have email) so I would like to move to some online service!

Oh yeah ...forgot to mention that I haven't even made back the original $400 (been a little over a year).

Anyone have any similar experience or can offer me any advice or even links :)

Thanks (sorry about the post length)!

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