IRS rollover options allow a taxpayer to take a taxable distribution from an annuity and transfer it tax-free into another retirement plan or a traditional IRA. This option applies whether the taxpayer is self-employed or an employee. Rollovers must be made directly into the other plan through the plan administrator to avoid having to pay taxes.
- 0 Users Found This Useful
Related Articles
What are annuities?
An annuity is a retirement financial product and tool. It is essentially a contract between you...
Why do people buy annuities?
People typically buy annuities to help manage their income in retirement. Annuities provide three...
What kinds of annuities are there?
There are three basic types of annuities, fixed, variable and indexed. Here is how they work:...
What are the benefits and risks of variable annuities?
Some people look to annuities to “insure” their retirement and to receive periodic payments once...
How to buy and sell annuities?
Insurance companies sell annuities, as do some banks, brokerage firms, and mutual fund...