OPEN A ROLLOVER IRA
We make it easy to get started
Start Your Rollover
You are being redirected to the eIRA Account Website to start your new IRA Rollover Account setup.
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To Start a Traditional IRA 1. Click New User 2. Type “Trad” for the Plan Password 3. Click Next, then follow the instructions |
To Start a Roth (post-tax) IRA 1. Click New User 2. Type “Roth” for the Plan Password 3. Click Next, then follow the instructions |
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HOW IT WORKS
eIRA BENEFITS
FAQ
How It Works
An Individual Retirement Account (or IRA) is a savings account with tax benefits, making it an ideal way to save for your retirement. Some people mistakenly think an IRA is an investment, but it’s really the container in which you keep stocks, bonds, mutual funds and other assets—with tax advantages.
After separating from an employer, many people want to roll over their 401(k) balance into a new Rollover IRA. A voluntary rollover is one you initiate on your own. An IRA opened automatically for your benefit by your prior employer is a called an auto-rollover IRA.
When you open a new rollover IRA with eIRA, you may choose between a Traditional and Roth (post-tax) IRA. The main difference between the two is when you pay income tax on the money. This tends to follow how you invested your contributions previously.
Rolling over your retirement plan account doesn’t have to be complicated
eIRA makes it easy for you to preserve the tax benefits associated with your former retirement plan.
eIRA BENEFITS
Keep Your Savings and Tax Benefits
- eIRA is a simple, low cost, secure solution.
- eIRA’s digital enrollment makes it easy for you to preserve the tax advantages of your retirement savings balance.
It’s Your Investment Strategy
- Manage investments yourself or
- Choose a simple approach tied to your expected retirement age or
- Opt for a professional investment manager to handle your strategy for you.
Investment Independence
- eIRA does not sell or promote investments.
- We work for you.
- We credit back to you any payments we receive from mutual funds.
- There are no fees for trading or re-balancing your investments to reflect your strategy.
- Your investment lineup is made up of low-cost mutual funds.
Easy 24x7 Website Access
- View and manage your eIRA account any time from any device.
- Review activity and download statements.
GENERAL FAQs
Can I roll over my workplace retirement plan account into an IRA?
Almost any type of plan distribution can be rolled over into an IRA except:
- Required minimum distributions
- Loans treated as a distribution
- Hardship distributions
- Distributions of excess contributions and related earnings
- A distribution that is one of a series of substantially equal payments
- Withdrawals electing out of automatic contribution arrangements
Is my IRA contribution deductible on my tax return?
If neither you nor your spouse is covered by a retirement plan at work, your deduction is allowed in full.
For contributions to a traditional IRA, the amount you can deduct may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels.
Roth IRA contributions aren’t deductible.
Can I roll over my IRA into my retirement plan at work?
You can roll over your IRA into a qualified retirement plan (for example, a 401(k) plan), assuming the retirement plan has language allowing it to accept this type of rollover. Roth IRAs can only be rolled over to another Roth IRA.
How do I convert my traditional IRA to a Roth IRA?
You can convert your traditional IRA to a Roth IRA by:
- Rollover – You receive a distribution from a traditional IRA and contribute it to a Roth IRA within 60 days after the distribution (the distribution check is payable to you);
- Trustee-to-trustee transfer – You tell the financial institution holding your traditional IRA assets to transfer an amount directly to the trustee of your Roth IRA at a different financial institution (the distributing trustee may achieve this by issuing you a check payable to the new trustee);
- Same trustee transfer – If your traditional and Roth IRAs are maintained at the same financial institution, you can tell the trustee to transfer an amount from your traditional IRA to your Roth IRA.
How do I open an account with eIRA?
You have two options for completing the new account opening, funding and investment direction paperwork:
- Online and e-sign all documents, or
- Download paper versions and mail the documents to us
How do I check the status of the account opening?
If you supplied your email address, you will receive email notifications on the status of your account opening, funding or investment transactions. You may also contact us anytime during business hours to speak to one of our client service specialists.
What are your fees to open an account?
eIRA typically charges a one-time establishment fee to open an account. Depending on your account type and assets held, other fees may apply. Please see our standard fee schedule.
What investments can I hold in an account at eIRA?
Your eIRA account can manage virtually any mutual fund, stock, bond or other registered security traded on the open markets (NYSE and NASDAQ).
Does eIRA provide investment advice?
No, eIRA is an IRA Provider and does not provide investment, tax or legal advice.
How do I request a distribution?
You may submit a request through our distribution request form.
Start Your Rollover
Elect an eIRA rollover on your distribution form online.