IRA Rollover

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  • RayT
    Member
    • Nov 2005
    • 74

    #1

    IRA Rollover

    72 y.o. client has requested a liquidation/transfer of his traditional IRA from his financial institution. He plans to re-deposit in a traditional IRA Savings account at his credit union as soon as it is received. In fact, the funds are being wired from the financial institution to the a savings account at the credit union. Funds will then be transferred into an IRA account established subsequent to receipt.

    Since the client is older than the maximum age for a traditional IRA, will the above process result in a problem? That is, once the funds are distributed, can he then re-deposit the funds in a traditional IRA?

    Comments appreciated.
  • veritas
    Senior Member
    • Dec 2005
    • 3290

    #2
    It sounds like

    a direct transfer. Should not be a problem.

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