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If your funds are now in an IRA (this could also be referred to as a ‘rollover IRA’, a ‘contributory IRA’, a ‘traditional IRA’), you may choose any one of the following options. Click to find the action steps you need:
Cash Rollover to Self-Directed IRA
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Typically faster than a transfer, with the potential to move funds to self-directed IRA in under a week.
- Can only use this method once per IRA per 12-month period.
- You play an active role by taking your IRA funds out and putting them back into the self-directed IRA within 60 days to avoid tax or penalty.
Transfer to Self-Directed IRA
- Typically slower than a cash rollover, taking somewhere between
10 and 30 days (your current IRA administrator should be able
to give you a closer idea of their processing time).
- You can use this method a limitless number of times.
- You play a passive role by authorizing the new self-directed
IRA custodian to request the funds directly from your current
IRA custodian.
IRA or SEP IRA Conversion to Self-Directed
Roth IRA
- Your Adjusted Gross Income must be below established IRS guidelines
to convert.
- You will pay income tax on the converted amount in the tax
year of the conversion.
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