There are two ways to move your IRA to Janus: a rollover or an asset transfer. The differences between the two come down to what’s reported to the IRS and who handles the checks.
In a rollover, assets are withdrawn from the IRA you want to transfer as a distribution and later purchased into the Janus IRA as a rollover purchase. Rollovers are tax reportable, but if the rollover is completed within 60 days of receiving the assets, the distribution is not subject to income tax or penalties. However, the IRS only allows investors one rollover per each 12-month period.
Asset transfers or trustee-to-trustee transfers are not tax reportable and can be accomplished with the Janus IRA Transfer Form. Complete the form, send it back to us and we will take care of the rest. Your funds will be transferred from your existing IRA directly into a Janus IRA and there is no tax reporting required. Learn more about the IRA transfer process or fill out the IRA transfer form today.
Have questions about a rollover? Call a Janus Retirement Specialist at 800.525.1093.
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