How can I move my Traditional or Roth IRA Retirement Account to Place Trade?
IRA Transfer Methods
Transfer methods describe the way an IRA account is funded. All of the following transfer methods are cash transactions, and Trustee-to-Trustee transfers can also use an ACATS position transfer in Account Management.
Contribution: The dollar amount of assets you are contributing to an IRA account, subject to certain limits based upon your age and the year of the contribution. Contributions are reported to the Internal Revenue Service (IRS).
Rollover: A transfer of funds from an IRA account with another trustee/custodian, within 60 days following a distribution, to an IRA account at PT. Rollovers are required to be reported to the IRS. IRA account types must be the same in order to rollover assets, for example, if the originating account is a Roth IRA, your account must also be a Roth IRA.
Direct Rollover: A transfer of funds from a qualified plan (pension, 401(k) or other qualified retirement plans) with an employer to a PT IRA account. In a Direct Rollover, the trustee/custodian of your employer qualified plan (401(k) or pension) transfers your retirement assets directly to us. In general, no withholding tax or penalties apply to a Direct Rollover, however, Direct Rollovers are reported to the IRS.
Trustee-to-Trustee: A transfer of funds from an IRA account held with another trustee/custodian to an IRA account at PT, where the assets are transferred directly trustee/custodian to trustee/custodian, with no distribution of assets to you. ACATs position transfers are available, however, the IRA account type and Tax ID must match in order to execute the transfer. Trustee-to-trustee transfers are not required to be reported to the IRS. Refer to the Tax Reporting page on our website for information on IRS forms you will receive when transferring retirement plan assets.
Please review the following table below for a list of all available IRA types and applicable transfer methods:
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