401k Rollover To Rollover Ira & Roth Ira After Tax Dollars?
I have a 401K from a previous employer which contains both Pre tax dollars and After tax dollars. I would like to rollover this 401K to my Rollover IRA (pre tax dollars) and my Roth IRA (after tax dollars). I believe the rules beginning 1/1/2008 allow this rollover to take place as a normal rollover, but I’m getting conflicting information from my source & target broker. Can anyone add any insight or clarify my understanding?
THANKS
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Tags : 401k, After, Dollars, Rollover, Roth
what is that old saying ” you can’t get there from here” you can do what you want but it will take two movements to get it done == transfer the accounts into new accounts with the receiver and once he receives them than he can combine them!!!
September 27, 2009 4:48 am | #1My client’s experience is that Vanguard (?) was able to allow her to rollover her 401K accounts to their care, but the accounts were not commingled with existing Rollover IRA or Roth IRA accounts. In this example, you would result with four accounts, the existing Rollover and Roth IRA accounts, plus two more accounts for the before- and after- tax amounts from the employer account. I apologize for not answering the “normal rollover” component; I am not familiar with that terminology.
September 27, 2009 4:50 am | #2