Moving assets to or from an IRA is an inevitability. With rollovers, there are limitations, which if breached, causes unintended distributions. The best time to make sure a rollover is done right- avoiding unintended taxation- is before the rollover is initiated.
For an IRA owner or plan participant who wants to maintain tax-deferral of their retirement account after it is moved, making the wrong election or signing/completing the wrong form can result in the amount becoming immediately taxable. Avoid this mistake by using our IRA/Employer Plan Rollover/Transfer assistance program and avoid ‘unintentional distributions’.
This program includes the following:
Participating in all conference calls the IRA custodian or plan administrator. Ideally, this should start before the any transaction is initiated.
Reviewing all emails, faxes and any other written communication regarding the transaction. This too should start before the transaction is initiated.
Working with you to ensure that transactions that are intended to be transfers do not get processed as distributions.
Determining whether any ineligible amounts are included in the account balance
Explaining the distribution options that apply to the beneficiary(ies) of the IRA.
This service does not include tax advice or legal advice.
Please contact Denise for assistance with your beneficiary transfer or beneficiary rollover from an employer sponsored retirement plan.
Fixing a mistake: If a mistake has already been made with an intended transfer or rollover and correction assistance is required, the fee is determined after reviewing the facts of the case.