If you’re considering consolidating your IRA assets, a transfer to an IRA with Thrivent Mutual Funds may be beneficial. With an IRA to IRA transfer, or a trustee to trustee transfer, you never take possession of the funds, so you don’t pay taxes.
IRA to IRA Transfer
- Assets transfer directly from one institution to another between like accounts (such as a Roth IRA from your current financial institution to a Thrivent Mutual Funds Roth IRA)
- You DON’T take possession of the assets before the transfer
- No taxes are withheld from transfer amount
- 60-day rule does not apply
It’s important to consider your own financial situation to make an informed choice. Check out Making Sense of Rollovers and Transfers for more rollover basics.