SEP IRA rollovers are a financial tool that will allow you to consolidate your retirement savings into a single target rollover IRA. There are several advantages to performing this rollover, but there are also a few guidelines that you’ll need to keep in mind when performing SEP IRA rollover process. SEP IRA rollovers will allow you to maintain the tax deferred status of your money, while doing what’s best for you in the short term and for your long term investment goals.

The first and most common reason to perform a SEP IRA rollover is that you have access to a new type of IRA. This usually comes as part of a benefits package at a new job. Alternatively, you may also elect to establish a personal IRA outside of your current employer. In either event, be sure to contact the management of the newest IRA before you attempt the rollover from the SEP IRA accounts. A very common mistake is to request the rollover before the new SEP IRA account is ready to accept the transfer. This can trigger a whole host of problems that can be avoided by simply making that one phone call. (more…)