Health savings account deduction for 2005
originally posted: 11/22/2006 reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email asktony@tonynovak.com.
Q: I am moving my 401(k) from my former employer at Fidelity to my own self-directed IRA account and was told that there are substantial surrender charges if I do this. Is this allowed?
A: Surrender charges can be avoided by doing a "transfer in kind" of assets rather than a surrender. Once the assets are in the new IRA account, you can gradually move them into less restrictive investments. See the details at www.irarolloveradviser.com. The only charge you will incur is the $150 adviser's fee. Surrender charges have to do with the investments selected and not the employer's 401(k) plan itself although sometimes employers do not offer investments without surrender charges in their 401(k) plans. This is one of the reasons we recommend investments without commissions or surrender charges of any kind.
Summary
More resources:
http://www.irarolloveradviser.com