You can open an IRA Rollover account up at just about any brokerage or bank.

What can my 401k account bring with it to the rollover IRA account?

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If you are under the age of 59 and a half and do not get this done, you will be subject to the 10% penalty tax, so don’t play games.

Have your rollover set up before requesting your distribution. Your rollover IRA account should be able to handle most investment products like mutual funds and index funds.

The share amounts and weightings should be unaffected by the transfer, however, keep in mind that your future fund purchases will no longer be automatic.

When you make your IRA contributions going forward (assuming you do not get a new 401k with your next employer), your elections will be made manually by either you or your broker.

Where should I roll or transfer my 401k account to?

IRA’s are great, and turning your 401k into one is the smartest and easiest move people can make when they change jobs or leave a company.

If you are over 50 years old, you get to make a catch-up contribution of 00 each year.

Your rollover IRA will also be subject to the same rates as regular IRA’s when you turn 70 and a half.

Yes you certainly can, just as you would contribute to a regular IRA.

For 20, the maximum IRA contribution amount is 00.

It is not always possible to do partial transfers, so if you’ve got “unmovable” stuff, the decision to liquidate has basically been made for you.