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Can SIMPLE IRA assets be rolled over to a 401K Plan?


Guest ddo2
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If an employer discontinues a SIMPLE IRA plan and begins a 401k Plan the following year, are the SIMPLE assets eligible to be moved to the 401k? I haven't been able to find clear rules on the "termination of a SIMPLE IRA" and have found nothing on termination and replacement by a 401k. Thanks.

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Yes... providing the SIMPLE IRA meets the two-year requirement, i.e. the SIMPLE IRA has been in existence for at least two years, beginning with the first day the employer deposits a contribution.

Life and Death Planning for Retirement Benefits by Natalie B. Choate
https://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/

www.DeniseAppleby.com

 

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