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Did you leave your job?  Time for an IRA Rollover.

A record number of Americans quit their jobs last year.  In December 2021, 4.3 million Americans quit their jobs, down slightly from the record 4.5 million in November.   Nearly 47 Million people decided to call it quits in the 2021 calendar year.  As a result, millions in retirement savings are left behind.

When you leave your job, often you leave your own money on the table.  Your retirement savings stay with the plan administrator for your previous company until you move them.  You can move those funds into the stock market, or you can escape Wall Street and invest in alternative assets with a self-directed IRA or 401(k).

What About Penalties and Taxes?

An IRA Rollover allows you to move funds from your prior employer-sponsored retirement plan into an IRA. With an IRA rollover, you can preserve the tax-deferred status of your retirement assets, without paying current taxes or early withdrawal penalties at the time of transfer.

When it comes to an IRA rollover, the money is rolled over from an employer-sponsored retirement plan into an IRA with the same tax treatment.  The account shares the same IRS tax rules on withdrawals, required minimum distributions, and conversions to Roth IRAs.

IRA Rollover Process (401(k), 403(b), 457, Defined Benefits, etc.)

  • Contact your present custodian and request their Rollover documentation.
  • Complete their forms and return them.
  • Once your current custodian receives your request they will respond.
  • Sometimes custodians require your new account number to process your request.

Your current custodian will need to make the check request.  Once your account is established with uDirect IRA Services we can provide this new account number to you. Have your current custodian make the check payable to the new custodian.

uDirect IRA Services can walk you through the process.  Contact us at info@uDirectIRA.com

Attention:

uDirect IRA Services staff is working both from home and from our offices in response to COVID-19. Rest assured, we are fully operational and ready to help with your retirement needs.