Whether you are looking to shift career paths or just want to make your IRA more effective, there are many reasons why you may be interested in an IRA rollover. Rolling over your individual retirement count requires the transfer of funds from either a 401k or another IRA with a direct transfer or a check provided by the distributing account's custodian. As the leading provider of Tulsa financial planning, Anchor Financial Group is here to help you navigate the unique circumstances surrounding your IRA rollover.

In most cases, IRA rollovers will occur following a change in careers or loss of jobs; however, if better benefits and investment opportunities are available through an alternative IRA, it may make sense to perform an IRA to IRA transfer. IRA rollovers can be performed once annually for an IRA to IRA transfer but does not apply to rollovers between traditional IRAs or Roth IRAs. If this rule isn't followed, extra transfers may need to be reported as gross income for the tax year. Knowing these rules and regulations will often require working closely with a financial planning expert.