Message Font: Serif | Sans-Serif
No. of Recommendations: 0
In December Youngest moved his 401K to a Roth and Traditional IRA. This had to be done via check in the name of the institution FBO Youngest Roth/Conventional IRA, per rules of the 401K administrator. No direct transfer, unless having the checks titled that way is considered a direct transfer.

He will be doing a Roth conversion of the TIRA and then moving the account to Vanguard. Because UBS charges a $95 transfer fee, I am looking at putting the remaining Roth into cash and having them send a check titled the same way as they received it, Vanguard Roth FBO Youngest. Would we have to wait until 2019 to do that, since it would be two transfers by check in one year? Heck, it might take that long to do the conversion anyway, and UBS may not make the fee distinction between sending over mutual funds and sending a check, but it's nice to know what the Feds will let us do and when.


Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.