IRA & 401k Rollovers

Keeping IRS Compliant with IRA and 401k Rollover

When leaving an employer, you have several options regarding what to do with your retirement plan. Some people keen their funds at their former employer. However, the majority wish to retain control of their assets, and will move the account. You can transfer the money into a Traditional IRA or IRA Rollover account (Request Information on IRA Rollovers) - These IRA accounts offer the same tax deferred status as 401k plans but offer you more flexibility and control of your investment options.
If the you opt for a Traditional IRA, you can also continue to contribute up to the annual limit.

Another option is that you could leave the money at your former employer. However, one drawback of this method is that you must rely on your former employer for account management. Many investors would prefer to move their account, thus not allowing their former employer continued control over their account.

You can pay a penalty, take the money out, and spend it. This option is strongly advised against as you would be subject to both the 10% IRS withdrawal penalty (up to age 59 1/2) and the withdrawal would be taxed as ordinary income

With Atlantic Financial, your accounts will handled by a professional who is able to offer far more advice than most order takers at fund companies and other discount brokers. You will never receive high pressure sales pitches and we only give advice when it is requested.
Clients of Atlantic Financial have access to over 18,000 mutual funds.

Information provided by Oppenheimer Funds

Rollover IRA

When you leave your employer to start a new job or retire, there's no doubt you're dealing with change and the stress that goes along with it. With everything you have to think about, deciding what to do with your accumulated retirement savings is probably the last thing on your mind. But it's the one decision you can't afford to put off.

The Results Last a Lifetime

That money you've worked so hard to save will probably be one of your biggest sources of income during your retirement.

You're facing an important choice: what to do with your retirement savings. And what you decide now will shape your future quality of life. It could mean the difference between enjoying a comfortable retirement and struggling to make ends meet.

You have several options to choose from and it's important that you know the facts before you make a decision. Discuss your options with your financial advisor to ensure that you are choosing the one that's right for your own situation.

Know Your Options

You can do one of four things with the money you've accumulated in your employer's plan:

	1. Take the Cash	2. Transfer the money to your new employer's plan
Advantages	You get the money right away Easy access to your retirement savings Immediate resources if you have no other source of income	You pay no penalties or taxes You maintain tax-deferred status of your retirement savings You might be eligible for loans from your new employer You consolidate your old retirement savings with your new ones
Disadvantages	To get that money, you’ll have to pay a high price $10,000 distribution -2,800 federal tax -500 state tax -1,000 penalty tax _____________ $5,700 could be all you see of your original $10,000. Even worse, you lose the opportunity to let that money continue to grow tax deferred.	Not all employers provide this option You may not be eligible to join the retirement plan until you’ve provided a year of service The new plan may offer few investment options Your ability to control and access your money may be limited
	3. Leave the money in your employer's plan	4. Roll the Money into an Oppenheimer Funds IRA.
Advantages	Requires no effort and you pay no penalties or taxes You maintain tax-deferred status of your retirement savings You may continue to be eligible for loan provisions from your previous employer	You pay no penalties or taxes while your savings continue to grow tax deferred You can choose from more than 60 time-tested funds representing most asset classes that can help you and your financial advisor build a well-diversified portfolio Your retirement savings are consolidated into a “nest egg you never have to move again—but you can move the money into a future employer’s plan if you wish Online and phone-based tools give you easy, anytime access to your account You can work with a professional financial advisor to manage your retirement investments
Disadvantages	Your employer’s plan may not allow this option The plan may not offer many investment choices You have limited access to, and control of, your money You’re leaving your money with a former employer If the value of your account is less than $1,000 your account can be cashed out by your previous employer. However, if the value of the account is between $1,000 and $5,000, the money may be automatically rolled into an IRA. Check with your previous employer to see if they have a cash-out provision.	Care must be taken to ensure the assets are transferred properly and expediently. Working with your financial advisor may limit these concerns

1. Hypothetical example assumes a 28% federal tax rate, a 5% state tax rate and a 10% early withdrawal penalty tax. Your tax rates may be higher or lower.

Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.

Begin Your IRA Rollover

	Begin Call Atlantic Financial at 1-800-559-2900 . Tell the representative that you need an IRS Compliant IRA Rollover. All rollovers provided by Atlantic Financial are in compliance with all IRS Regulations. Atlantic Financial specializes in IRA Accounts and 401k to IRA Rollovers. We have been helping people on the web since 1994 .
	Transfer Atlantic Financial will assist you with your rollover IRA and help you consolidate your holdings. The Atlantic Financial team will work to make sure your assets are handled properly and securely.
	Review Atlantic Financial will keep you apprised of the status of your rollover IRA and inform you when your accounts have been consolidated. After your rollover IRA has been completed, an Atlantic Financial investment professional will contact you and work with you to select investments that meet your needs.

If you would like assistance rolling over an existing retirement plan, opening a new IRA account or if you have any questions please call 1-800-559-2900, email us (please be sure to include your name and phone number in your email) or contact us

More Information: 401k Rollover | Roth IRAs | SEP IRAs | Traditional IRAs

Financial Planning and Investment Services

Atlantic Financial has been serving clients on the Internet since 1994 and enjoys a solid reputation for service, selection and value. We can review your financial plan, assist with your 401k Rollover or IRA Rollover and answer your retirement questions.

>>
I'd like to learn more about 401k rollovers from my previous employer to an IRA.

Roth 401k IRA Roth Options and 403b comparison

What you should know about your retirement savings plan

Be sure your are working to be in compliance with regulations, see the IRS website, IRS 401k Rules and Regulations or speak with a financial advisor from Atlantic Financial

Call 1-800-559-2900 and ask to speak with an Investment Advisor.