Note: Required distributions, substantially equal periodic payments, hardship distributions, corrective distributions, and certain other payments cannot be rolled over. Nonspousal death benefits can be rolled over only to an inherited IRA, and only in a direct rollover or trustee-to-trustee transfer. Employer plans are not legally required to accept rollovers — review your plan document. Rollovers may void certain special qualified plan tax benefits for individuals born before 1936.

1. Also applies to other qualified employer plans such as defined benefit and profit-sharing plans.
2. Taxable “conversion,” included in income in year rolled over.
3. Only after employee has participated in SIMPLE IRA plan for two years.
4. 10% early distribution penalty may apply to rolled over funds at payout unless exception applies (unlike other 457(b) plan dollars).
5. 401(k), 403(b), and 457(b) plans can allow in-plan direct transfers of non-Roth funds to a Roth account; taxable dollars included in income in year transferred.
6. Nontaxable “conversion.”
7. Nontaxable dollars may be transferred only in a direct (trustee-to-trustee) rollover.
8. If qualified distribution (tax-free) is rolled over from Roth account to Roth IRA, those dollars remain tax-free in Roth IRA; if nonqualified distribution is rolled over from Roth account to Roth IRA, earnings rolled over become subject to Roth IRA five-year holding period for determining qualified distributions.
9. You can make only one tax-free, 60-day rollover from one IRA to another IRA in any 12-month period, no matter how many IRAs (traditional, Roth, SEP, and SIMPLE) you own. This does not apply to direct (trustee-to-trustee) transfers or Roth IRA conversions.

Questions? Contact a CFS Financial Advisor.

Grow has contracted with CUSO Financial Services, L.P. (CFS) to provide investment services, and your CFS Financial Advisor will help you build a plan that meets your needs. The advisor will look at your current spending, saving and investing, learn about your goals and priorities, make objective recommendations and support your efforts moving forward through the implementation and management of your plan.

Schedule a Complimentary Consultation

Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. For specific tax advice, please consult a qualified tax professional.
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2019.

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• Investment Education