Rollover your 401(k) or transfer your IRA in a few simple steps.
Opening an account takes minutes, but transferring funds can take several days to weeks, depending on the funding method selected. Most of our clients fund their accounts in advance, so the funds are there when they need them.
The IRS allows you to fund your account in a number of ways:
The IRS allows account holders to make yearly contributions, which are subject to certain limitations based upon your age and the year of the contribution. IRAs allow contributions to be made with cash or through an ACH transaction. All contributions are reported to the IRS.
A Rollover involves the transfer of funds from another trustee, to a Rich Uncles IRA account of the same account-type. For example, if you wish to transfer funds from a Roth IRA that is in another trustee’s custody, we can rollover your funds to a Rich Uncles Roth IRA account under our custody.
The IRS only allows one rollover, per account owner, per 12-month period. All Rollovers are reported to the IRS. If you are wondering what your rollover options are, here is a link to the IRS rollover chart: IRS Rollover Chart.
A Direct Rollover involves moving assets under custody with a different trustee, from a qualified plan, such as, a 401(k) or employee sponsored plan, into a Rich Uncles account of a different type. For example, you can facilitate a direct rollover from your 401(k) to a Rich Uncles Traditional or Roth account. No withholding tax or penalties are applicable with a direct rollover. All Direct Rollovers are reported to the IRS.
A Trustee to Trustee transfer allows you to transfer funds held by another trustee or custodian, to a Rich Uncles account, without a distribution of assets. The transfer must take place between the same account types. For example, if you initiate a transfer from a Traditional IRA held by another trustee, we can direct the funds to a Rich Uncles Traditional account. Trustee-to-trustee transfers are not required to be reported to the IRS.