A Helpful 401(k) & IRA Rollover Chart from the IRS

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That’s right, the words helpful and IRS sometimes go together. The IRS has produced a chart showing whether a rollover between 401(k), 403(b), 457(b), IRA, Roth IRA, SEP IRA and SIMPLE IRA accounts is permitted. Clicking on the chart or here will download a pdf version of the chart. The chart includes hyperlinks to additional resources on the IRS website.

Guess which Online Discount Brokers Offer IRA Rollover accounts

Changes to 401(k) and IRA rollover rules for 2008

There are some changes for 2008 that are reflected in the chart. For example, you can now do a direct rollover from a 401(k), 403(b) or 457(b) to a Roth IRA (subject to income limitations). Before 2008, you had to first rollover to a traditional IRA and then convert to a Roth IRA. The chart also indicates when a rollover is permitted subject to certain limitations.

Rollover IRA Options

If you are looking to open a rollover IRA account, there are several great online discount brokers that offer no fee IRA accounts:

  • Scottrade: Scottrade is arguably the most feature-rich online discount broker available. In addition to an online brokerage, Scottrade offers physical locations throughout the U.S. You can read our Scottrade review or go directly to Scottrade for more information.
  • OptionsXpress: OptionsXpress not only offers discount stock trading, but also professional grade tools and trading platform. You can get more details and open an account online at OptionsXpress.
Published or Updated: January 7, 2014
About Rob Berger

Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.

Comments

  1. Danh says:

    Hello,
    Would you please help me some answers about my Rollover IRA?

    I had IRA-SEP in Direct Zion financial service about 10K, I was laid off Dec 2008. On Sep 2009 I transered this account into Zecco Rollover IRA with 5K loss.
    I have 2 questions:
    1. How do I fill 2009 Income Tax return?
    2. With Zecco Rollover account, Do I have to fill income tax return for the gain/loss?

    Thanks,
    Danh

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