IRA Rollovers: A How-To FAQ

Individual retirement accounts, or IRAs, are the most popular savings vehicle in America for a good reason: They represent a flexible, tax-advantaged and (usually) relatively simple-to-manage vehicle in which to set aside money for retirement.

IRAs held about $7.4 trillion in retirement funds as of the end of 2014, more than any other type of retirement account, according to the Investment Company Institute. But alas, IRAs are governed by a sometimes-complex set of tax rules, especially when transferring money to, from and between accounts, moves commonly termed IRA “rollovers.”Running afoul of the rules means potentially losing the flexibility, simplicity and tax-favored status that make IRAs so appealing. Read on to learn how to preserve those advantages and spare yourself major rollover headaches.

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