Rollover IRA & Penalty Questions

[Free Thinker]

"So this mean I ask former company pay the broker (IB) on behalf of me then I can avoid all this trouble?'

yes

 

[hjcolvin]

I just did something similar. Setup the IRA and then roll your 401K over by have the check made out to the brokerage with your account # and then you won't have a penalty or anything.

 

[bentnose]

hjcolvin ,

Yes I have been thinking of exactly the same thing. I have about 22,000 in my companies 401k and wanted to roll it over into a trader account. Did you find any particular ones you might recommend? I am not at all keen on paying that tax...as well. but want to start daytrading with it.

Much obliged,

bentnose

 

[hjcolvin]

Bentnose,

I am a OptionsXpress fan and I use them for all of my trading. You should give them a look.

 

[etherboy]

Finally got my former employer send a cashier's check to IB and now the account is fully funded. Thanks to everyone for the help!

 

[Andre]

Way to sick with it.

André