Can I rollover an annuity to an IRA?

Answer by  Chaneygirl (1755)

You cannot roll an annuity into an IRA, they are different types of investments. You can roll the annuity into another annuity if you want to avoid paying the taxes on it currently. You can also take out enough money from the annuity to make an IRA contribution (assuming you qualify otherwise), there may be annuity forfeiture fees here.

Answer by  Liz59 (10966)

Yes, it is possible and you must file this under the 1035 exchange. The 1035 exchange means that you will not be subject to the 10% penalty fee, that is normally charged during this time. But it may be more advisable to get a low cost annuity for comparison sake.

Answer by  sanesh (86)

Associations like IRA, if they,have caterogized as an IRA or qualified retirement plan, it can be rollover to any IRA. If not, what kind is it? If not qualified retirement annuity, it cannot be rollover to any retirement annuity. It depends if it is in categorized list. If qualified, it can be done.