Posts Tagged ‘SEP IRA Rollover Rules’

SEP IRA Rollover Accounts – How They Work

Setting up an SEP IRA rollover is relatively simple, as the SEP IRA rollover rules are similar to those that govern traditional IRA rollovers. You’ll first need to establish an IRA account with the provider of your choice. The new account provider will then provide you with the necessary paperwork to move your old SEP IRA funds into the new IRA. As with a traditional IRA rollover, be sure to choose the direct transfer option, as this will prevent you from incurring any unnecessary taxes or penalties that will diminish the value of your retirement accounts. Your account provider can assist you with any additional questions you have about your SEP IRA rollover transfer. (more…)

How Will My SEP IRA Rollover be Taxed?

Aside from simply wanting to save money for their retirement years, most people participate in some form of retirement savings vehicle, such as an IRA, because they want to improve their tax situation – specifically, they want to pay less income tax. The fact that contributions to a retirement savings vehicle often have a tax deferred status is a primary selling point for IRAs. When you’re thinking about taking money out of an IRA, as in the case of a rollover, you may have questions about how that will affect the tax deferred status of your money. You’ll be relieved to know that the chances you’ll lose the tax deferred status of your money are very slim indeed. (more…)

Should You Transfer Your Funds to an SEP IRA Rollover Account?

As you may already be aware, SEP stands for Simplified Employee Pension Plan, and an SEP IRA is a type of qualified plan designed especially for those who are self-employed or for employers who own small businesses. As with any qualified plan, an SEP IRA enables your retirement investment to grow over time, while deferring taxes until the funds are withdrawn.  But does that mean you should transfer your existing retirement funds into an SEP IRA account? (more…)

What Rules Apply to My SEP IRA Rollover?

An SEP IRA is different from a traditional IRA in that it’s designed specifically for small business owners and for people who are self-employed.  In fact, the SEP stands for Simplified Employee Pension and, as the name suggests, an SEP IRA is, in many ways, simpler to use in terms of management and record keeping than other types of IRAs.  If you have decided that the time is right for you to move your money out of an SEP IRA and into another qualified retirement savings plan, the process is fairly simple, but there are a few rules you’ll need to be aware of. (more…)

Should You Do a SEP IRA Rollover to a Traditional IRA?

Deciding how to invest for your retirement is one of the most important financial decisions that you’ll make in your lifetime – and fortunately, there’s an endless array of excellent financial options and products out there to choose from.  One option – an IRA – is a retirement savings solution that most people consider when deciding how to safely invest money for the future. (more…)