Retirement Accounts that can be transferred/rolled over to a self-directed 401k

A couple of self-directed 401k Plan questions for you.

QUESTION 1) Can my wife and I both rollover funds from other 401(k) and IRA based accounts into this self-directed 401k plan account?

ANSWER: Yes the retirement account rollover/transfer rules allow for the transfer of all 401k plans and most IRA types to a self-directed 401k plan.

QUESTION 2) Below is a list of accounts that my wife and I have.  Which of these accounts can we rollover (or contribute from) into this self-directed 401k plan account?

My Accounts

  • Rollover IRA         – $18.4K
  • Roth IRA             – $6K
  • Traditional IRA     – $5K
  • Current Employer 401(k) – $84K total – $75K of that total can be withdrawn because it is “Rollover” – Note: I plan to continue to work for this employer

ANSWER: The rollover IRA, Traditional IRA and the $75k of 401k rollover funds may be transferred to a self-directed 401k; however, the Roth IRA may be not be rolled over or transferred to the self-directed 401k as the rules restrict the movement of Roth IRA funds to any type of 401k.

My Wife’s Accounts

  • Roth IRA            – $7.3K
  • Traditional IRA    – $4.6K

Please let me know if you need additional information.

ANSWER:  As listed above, the Traditional IRA may be rolled/transferred to the self-directed 401k, but not the Roth IRA. Click here to see a full list of retirement accounts that may be rolled/transferred to a self-directed 401k plan.

Thanks,

Josh in New York

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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