You can transfer existing IRA assets into a new IRA account by completing the Driehaus Mutual Funds IRA Application and the Transfer of Assets Form, found in the online IRA application kits.  You must check the “transfer of assets” box.  This gives PFPC, Driehaus Mutual Funds' transfer agent, permission to request your assets from your current IRA custodian.

No. IRAs may only be transferred to the same type of IRA (i.e. Traditional to Traditional, Roth to Roth, etc.) Also note that IRAs cannot contain any margin loans, short positions, or equity option positions.

Rollover - A distribution from a traditional IRA can be contributed to a Roth IRA within 60 days after distribution. Trustee-to-trustee transfer - The financial institution holding the traditional IRA assets will provide directions on how to transfer those assets to a Roth IRA with another financial institution.

There is no limit on the amount that can be converted to a Roth IRA as long as your modified adjusted gross income is below $100,000 per year. Not so. Any amount can be converted to a Roth IRA if you meet the $100,000 per year income limit. However, only $3,000 in 2003 can be contributed to a Roth IRA subject to certain income limits. Investors 50 years old or above may make an additional "catch-up" contribution of $500, bringing their total to $3,500 for the year.

Yes, you can. But remember that you can only contribute up to $3,000 per year to any combination of Traditional and Roth IRAs that you have. You cannot contribute $3,000 to each.

The Roth IRA was first introduced in 1998, quickly gaining popularity as the new retirement planning investment vehicle. The main difference between the Roth IRA and the Traditional IRA is that contributions to a Roth IRA are not tax deductible and therefore come from after-tax income. However, the income generated by the Roth IRA is tax-free upon qualified withdrawal. In other words, traditional IRAs offer tax deferral while Roth IRA earnings are

You must perform this conversion before you transfer your IRA to IB. Your Modified Adjusted Gross Income can't exceed $100,000 (single or joint filers) in the year of the conversion.

In most cases there is no limit on the amount you may transfer or roll over into an IRA because you are simply moving the money from one type of retirement plan to another. You may transfer or roll over your IRA regardless of your age. However, if you are 70? or older, you must receive a minimum required distribution from your IRA each year. This should be taken into account in planning your rollover.

A rollover is when your existing IRA custodian issues a check to you (this can only be done once a year). A transfer of assets is when your funds are sent directly between custodians.  To avoid income tax and a penalty tax on the rollover, you have 60 days from the date you receive your rollover check to invest the assets in another qualified IRA plan. There are no time constraints when you transfer assets directly between IRA custodians.

You get to withdraw money from your Roth IRA tax-free after at least five (5) years and if you are over age 59-1/2. You will not be required to withdraw a minimum amount from your Roth IRA after reaching age 70-1/2. Thus, your money can continue to grow tax-free until you really need to access it.

Yes. Couples who are married filing separately may convert their Rollover or regular IRAs to a Roth IRA but only if they have been living separately from their spouse for the entire taxable year and meet the $100,000 modified adjusted gross income limit individually.

Yes. You can convert as much or as little as you like of your Rollover or regular IRA to a Roth IRA each year as long as you meet the annual income limit. Partial conversions will allow you to manage and better plan for the taxes that you must pay on your converted amounts.

Yes. Tax law provisions allow you to convert (roll over) your Traditional IRA to a Roth IRA. Certain eligibility requirements (income and tax filing status) apply, such as: your AGI cannot exceed $100,000, and married individuals filing separately may not convert Traditional IRAs to Roth IRAs. Conversion is considered a taxable distribution from your current Traditional IRA for prior earnings and deductible contributions, but not subject to the 10% penalty tax.

You must complete the conversion within 60 days. Because Tax penalties can be assessed if not handled properly, we recommend that you check with a North Shore Bank Investment Advisor or your tax advisor before initiating this type of transaction. No. Unlike with traditional IRAs, which require distributions to begin at age 70, your earnings can continue to grow in a Roth IRA until you need them.

You can easily convert a Traditional IRA into a Roth IRA without any penalties. However, deferred taxes on the Traditional IRA must be paid upon conversion.

Yes, you can make a conversion if your modified adjusted gross income (AGI) is $100,000 or less. The amount of your conversion will not be counted toward the $100,000 AGI limit. This limit applies to both single and married individuals filing jointly. Married individuals filing separately cannot convert. you get ready to invest, it may be a good time to talk with your tax advisor about your overall retirement plan and which IRA options may make sense for you.

Both traditional and Roth IRAs are retirement accounts, so early withdrawals may be penalized and/or taxed. For both plans, there are usually some limits on contributions, and interest your money earns over the years is free from income taxes. Benefits of a traditional IRA include tax-deferred earnings now by lowering your income at tax time, and Roth IRAs offer tax free disbursals in retirement.