Comments on: 3 Rollover IRA Mistakes

By: F.T. Chapman

F.T. Chapman — Mon, 27 Jul 2009 14:11:27 +0000

I have a traditional IRA and have an account with Fidelity Investments. Can I transfer that sum directly to my IRA account without a penalty. Thanks

By: Claire

Claire — Fri, 01 May 2009 17:10:38 +0000

Addition to my previous post:

-I don’t have any other 401k accounts except for the employers 401k I mentioned in my email
-I don’t have any other IRA accounts except for the Traditional IRA I mentioned in my email
-This is my first and only roll over/retirement account change — ever (so i’m new to this)

Thanks again.

By: Claire

Claire — Fri, 01 May 2009 17:04:34 +0000

Thank you for your article. It’s helped me understand my options and alleviate some of my anxiety through this challenging time. Here is my situation:

-I was laid off in Jan. 2009
-I was finally able to access my employers 401k on 4/26/09.
-Called my former employers 401k brokerage company to do the rollover to my Traditional IRA account on 4/27/09.
-Received the check (payable to my bank for the benefit of my IRA account) on 4/28/09.
-I deposited the check to my Traditional IRA account on 4/29/09.

Did I follow the instructions carefully (I don’t want to lose my tax deferred status)?