Define: Roll Over

A roll over refers to the transfer of funds from one retirement account to another without incurring any tax penalties.

Yes, you can roll over your 401(k) into an IRA. This allows you to maintain control over your retirement funds and potentially access a wider range of investment options.

If done correctly, a direct rollover from one retirement account to another is not taxable. However, if you receive the funds directly and fail to deposit them into another eligible retirement account within 60 days, it may be considered a taxable distribution.

Yes, you can convert a traditional IRA into a Roth IRA through a process called a Roth conversion. However, you will have to pay taxes on the converted amount in the year of the conversion.

There is no limit on the number of times you can roll over your retirement account. However, there may be restrictions on the frequency of rollovers within a certain time period, such as once every 12 months.

In most cases, you cannot roll over a pension into an IRA. Pensions are typically paid out as annuities, and the option to roll over the funds may not be available. However, it is best to consult with a financial advisor or pension administrator to understand your specific situation.

In general, you cannot roll over a 403(b) into a 401(k). These retirement plans are designed for different types of employers (non-profit organisations vs. for-profit companies) and have different rules and regulations. However, there may be exceptions, so it is advisable to consult with a financial advisor or plan administrator.

No, you cannot roll over an HSA into an IRA. HSAs are specific accounts designed to help individuals save for medical expenses, while IRAs are retirement savings accounts. However, you can use the funds in your HSA for qualified medical expenses without incurring any tax penalties.

No, you cannot roll over a 529 college savings plan into an IRA. 529 plans are specifically designed to save for education expenses, while IRAs are for retirement savings. However, you can change the beneficiary of your 529 plan to another family member or use the funds for qualified education expenses without incurring any tax penalties.

Yes, as a surviving spouse, you can roll over your deceased spouse’s retirement account into your own IRA or other eligible retirement account. This allows you to continue deferring taxes on the funds until you make withdrawals.