Tuesday, March 13, 2012

Transferring an IRA Account

Q.  My husband and I are on the road & mail is a real hassle. I want to transfer my IRA to a different brokerage house, but my present brokerage house refuses to transfer the funds by wire transfer. Do you have any suggestions?

A.  Your best option may be to contact the brokerage firm you want the IRA transferred to and see if they can affect the wire transfer. Quite often that will work. If not, instruct your current brokerage to send the check via FedEx, UPS, etc. directly to the brokerage house you wish the funds transferred to. Having said that, I would first confirm with the new brokerage house if they will accept this. Any firm wanting your business will figure out a way to receive your funds!

1 comment:

  1. very good read … I interested in opening up a IRA for my self…..

    ReplyDelete