Should be able to. She may have to pay a penalty to remove money from the annuity to the annuity company. If she rolls it directly into a Traditional IRA there should be no tax consequences. When she turned 70 1/2 she was required to begin taking required minimum distributions from her other IRAs, so this would become part of that as well.
Look into something like a conservative index bond fund from a company like Vanguard where the fees and other costs are low. Make sure she rolls it over directly to the IRA to avoid potential taxes and penalties.
Written by nickipettis about 6 months ago.
i would call a local bank and ask.
also ask if there are any penalties for doing this.
Written by Johnny Answerface about 6 months ago.
The only thing you need is a brokerage who can make the account and the minimum amount of money.
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