How to Rollover an IRA to Another Investment
When you want to change IRA investments from one type to another or from one trustee to another, you can accomplish this by doing a tax-free rollover from one to the other. The transfer of the IRA amounts, either partially or in total, is called a rollover contribution. Normally you have 60 days after you receive an IRA distribution to make the tax-free rollover.
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Instructions
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Investigate various trustees to determine the type of investment change you want to make to your IRA plan.
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Select the plan trustee who can best achieve the financial goals you want from your IRA.
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Rollover the IRA distribution if you cannot do a trustee-to-trustee transfer. A transfer of IRA that can be done directly from one trustee to another is not a rollover because there is no distribution to you.
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Make the rollover contribution within 60 days of receiving the distribution to avoid a taxable transaction.
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Report IRA distributions on Line 15 (a) of your Form 1040 tax return. If it is a qualified tax-free rollover, enter zero on Line 15 (b) and write "rollover" next to it. If the rollover amount is partially a required distribution, that amount is not considered a tax-free rollover and must be reported on Line 15 (b).
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Tips & Warnings
You may be able to transfer a traditional IRA into a qualified plan, but it would be a taxable event.
