By Lisa J., IRA Account Supervisor and Guest Blogger
It is IRA season, and that means each week we receive thousands of questions about IRAs. Since starting in the Scottrade IRA department eight years ago, I can say one of the most common questions we receive each year is, “How do I rollover to an IRA?” If you have that same question, here are a couple steps to help.
- Contact your plan administrator or financial institution where you currently have your retirement account. Let them know you want to roll over your qualified plan. You will want to ask them what paperwork will be required, along with what fees or penalties may be charged.
- Bring your required paperwork to a local Scottrade branch. You don’t want to have any errors or miss checking an important box, because it could delay getting the funds rolled over to your new Scottrade IRA account. You local Scottrade team can work with you one-on-one to complete the rollover paperwork and answer your questions.
- Open your Scottrade IRA account. This can be done at your Scottrade branch or online at Scottrade.com. You will need to have an IRA account so we can receive the funds. Some rollover paperwork even requires you to include your new account information or an acceptance letter from Scottrade, so that the rollover is completed properly.
- Sign and submit all forms to your plan administrator or financial institution and Scottrade.
With the right help from Scottrade, your rollover will be an easy process and one that will put you in control of your investments.
Subscribe to the RSS feed or check back to read my next blog post later this week on IRA rollover rules. You will find out if your retired minimum distribution amounts are eligible for a rollover and how many times you can rollover an IRA.
What would you like to learn about rolling over an IRA?
Lisa J., started in the Scottrade IRA department in October 2004. She handles IRA rollovers, distributions and answering client IRA questions.
The information presented in this blog is for education purposes only and should not be considered an endorsement of a particular product(s), investment(s) or account(s). This information is intended only to assist you in making financial decisions, is broad in scope and does not consider your personal financial situation. It’s important to keep in mind that as with any important financial decision, seek competent tax advice during the decision-making process.