first time home buyer with roth ira question.

[Guest Roger Rivet]

I have recently been told about roth ira and I am trying

to find information about rules regulating rolling over

a 401k plan then withdrawing the funds for the purpose of

first time home buyer. I am very new to this and know

nothing at all about roth ira. Any help with this would be

greatly appriciated.'

thanks!!!

[Appleby]

Roger,

This link provides information on the Roth IRA.

http://www.irs.ustreas.gov/forms_pubs/pubs...bs/p590ch02.htm

Please note if you intend to move your 401(k) assets to a Roth IRA, they must first be rolled to a traditional IRA. The assets can then be converted from the traditional IRA to the Roth IRA.

Distributions from IRAs that are used for a first time home purchase are not subjected to the 10% early withdrawal penalty that usually applied to IRA owners who are under the age of 59 ½