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rolled over IRA and 401K question
Old 12-10-2009, 11:55 PM   #1
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rolled over IRA and 401K question

I have one roll-over IRA. (I rolled over the 401K I had with my former employer to the roll-over IRA). Someone told me I could roll that into the 401K I am enrolled in with my current employer.

Is that true?
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Old 12-11-2009, 01:55 AM   #2
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From what I have read and this IRS chart, that is true if current employer approves: http://www.irs.gov/pub/irs-tege/rollover_chart.pdf

Many would ask why you want to do that when many go the other way when they can.
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Old 12-11-2009, 09:38 AM   #3
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Check your Summary Plan description and see if it is allowed by your plan. It is a permitted transaction under the IRC.
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Old 12-11-2009, 09:57 AM   #4
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In general, most plans allow you to do that. However, I would roll it to a self-directed IRA. Why limit yourself to ONLY the plan choices in the new 401K??
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Old 12-11-2009, 11:31 AM   #5
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Originally Posted by FinanceDude View Post
In general, most plans allow you to do that. However, I would roll it to a self-directed IRA. Why limit yourself to ONLY the plan choices in the new 401K??
I've been gearing up for the Roth IRA conversion in 2011 and been putting in money in non-deductible IRAs for it the last couple of years. (I do not qualify for tax-deferred IRAs) I have one tax-deferred roll-over IRA and if there is a way to put this into my current 401K, all I have to do for the 2011 Roth IRA conversion is to pay practically no taxes (I have had only losses since 2008 in my non-ded IRAs, which may change by 2011 but probably not by much.), hence the question.

I will talk to the current, active 401K admin and see if I can move my roll-over tax-deferred IRA in there.
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Old 12-11-2009, 02:11 PM   #6
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good strategy.
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Old 12-11-2009, 07:20 PM   #7
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Quote:
Originally Posted by tmm99 View Post
I've been gearing up for the Roth IRA conversion in 2011 and been putting in money in non-deductible IRAs for it the last couple of years. (I do not qualify for tax-deferred IRAs) I have one tax-deferred roll-over IRA and if there is a way to put this into my current 401K, all I have to do for the 2011 Roth IRA conversion is to pay practically no taxes (I have had only losses since 2008 in my non-ded IRAs, which may change by 2011 but probably not by much.), hence the question.

I will talk to the current, active 401K admin and see if I can move my roll-over tax-deferred IRA in there.
I'm in a sort of similar situation in that I retire early 2010 and would normally move my 401(k) into a rollover IRA but instead will leave it until 2011 so that I can convert my after tax IRA into a Roth IRA and minimize the tax hit that year.
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