Simple IRA | Ed Slott and Company, LLC

Simple IRA

company A currently has a simple IRA plan, they will be changing to 401k plan starting 1/1/2008. The simple IRA was started 6/1/2005 can i roll over participants Simple IRA into the new 401K plan?

You should be able to if the participant has met the 2 year requirement, and IF the 401k accepts incoming transfers.

Bear in mind that … ----it is up to each participant if they want to rollover their individual SIMPLE IRA balances to the plan. They may decide to keep it in their SIMPLE IRAs, transfer the amount to a traditional IRA, convert the amount to a Roth IRA, or rollover the amount to another eligible retirement plan, [b]and [/b] ----the two year period applies separate to each SIMPLE IRA under the plan, and starts the date the fist contribution is made to the SIMPLE IRA

Find members of Ed Slott's Elite IRA Advisor GroupSM in your area.
We neither keep nor share your information entered on this form.

I agree to the terms and services:

You may review the terms and conditions here.