|
PureBytes Links
Trading Reference Links
|
John, thanks so much!
On Thu, 11 Dec 2003 19:54:04 -0500,
jdfo@xxxxxxxxxxx wrote:
----- Original Message -----
From:
STEVE
ROBERTS
To: realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, December 11, 2003 2:48
PM
Subject: Re: [RT] GEN: ANNUITY INTO IRA
(ROTH)
JohnO,You seem to know something about this.
Great! Ihave
a couple annuities that I have very fewoptions
with in a bear market. I
would like tomove them into my IRAs.I've had
them both for 7 or 8
years. Will there beany form of penalties? Ans:
No. You are
not liquidating the annuity, just transferring
it, if this is what you intend
to do. If you intend to liquidate the annuity,
and transfer the funds to your
IRA, there might be a penalty in the form of
Surrender Charges. This depends
on the Annuity Agreement and it's stated
Surrender Charges
Schedule. But remember, your IRA annual
contributions are limited to
$3,000 ($6,000 if spousal), and unless the
annuities are Qualified Plans,your
contributions must fall within the IRS
guidelines.
Is the 1035 exchange an IRS form? Ans: Yes, and
these
forms can be obtained from the IRS.Can I have my
IRA
broker make the transfer fromthe other two?
Ans: You will need to contact the
Annuity sponsor (the company that you purchased
the annuity from) and
request the appropriate transfer documents. Your
safest method would be to
effectuate the 1035 Exchange between the
custodians. But, only if
the annuities are in a Qualified Plan. What
are the snags or downsides that I might notbe
aware of? Hidden costs?
Ans: Don't know. Depends on many factors but any
transfer or
rollover should not be expensive.THIS IS NOT
MEANT TO BE
LEGAL ADVICE OR INVESTMENT ADVICE. THIS IS JUST
MY PERSONAL OPINION. PLEASE
CONSULT AN ATTORNEY THAT SPECIALIZES IN THESE
SUBJECTS OR A QUALIFIED
FINANCIAL ADVISOR/PLANNER.
Thanks!!!SteveOn Wed, 10 Dec 2003 20:06:23
-0500,jdfo@xxxxxxxxxxx wrote:Yes, you can do
this, but it must be
done within a 60 day window. You should have
done as
previouslysuggested, a 1035 exchange.JohnO
-----
Original Message ----- From: Randy To:
Charles Meyer Sent: Tuesday, December 09, 2003
9:59
AM Subject: Re: [RT] GEN: ANNUITY INTO IRA
(ROTH) Hello Charles,Friday, December 5, 2003,
3:56:28PM,
you wrote:CM> Group-CM> Does anyone know if
itis
possible to roll a variable annuity over
(aftermoney is taken
out and taxes paid) into an IRA; which would
probably be aRoth
IRA?CM> Thanks for any feedback.CM> ChasCheck
into
thepossibility of doing a 1035 exchange.--
Best
regards,Randy
mailto:rr@xxxxxxxxxxxxxxx unsubscribe from
this group,
send an email
to:realtraders-unsubscribe@xxxxxxxxxxxxxxxxxxx
use of Yahoo! Groups is subject to the
Yahoo!Terms of Service.
Yahoo! Groups Sponsor
ADVERTISEMENT To unsubscribe from this
group, send an email
to:realtraders-unsubscribe@xxxxxxxxxxxxxxxxxxx
use
of Yahoo! Groups is subject to the Yahoo!Terms
of
Service.________________________________________________PeoplePC:
It's for people. And it's just smart.
http://www.peoplepc.com To
unsubscribe from this group, send an email
to:realtraders-unsubscribe@xxxxxxxxxxxxxxxxxxx
use of Yahoo! Groups is subject to the Yahoo!
Terms of Service.
Yahoo! Groups Sponsor
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to the Yahoo!
Terms of Service.
________________________________________________
PeoplePC: It's for people. And it's just smart.
http://www.peoplepc.com
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Buy Ink Cartridges or Refill Kits for your HP, Epson, Canon or Lexmark
Printer at MyInks.com. Free s/h on orders $50 or more to the US & Canada.
http://www.c1tracking.com/l.asp?cid=5511
http://us.click.yahoo.com/mOAaAA/3exGAA/qnsNAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|