You may move IRA assets from an IRA or qualified plan through a transfer or a rollover. A direct transfer of cash or assets from an IRA to new IBKR IRA account is generally tax-free and does not constitute a rollover. A direct transfer of cash or assets from a qualified plan is always a rollover. A rollover is a tax-free distribution of cash or assets from an IRA or qualified plan that you contribute to a new IBKR IRA account within a 60 day period to complete the rollover transaction. While the rules for rollovers and transfers differ, they accomplish similar objectives. Both rollovers and transfers facilitate the tax-free movement of IRA monies from one trustee or custodian to another…

Overview

• If the other broker participates in the Automated Customer Account Transfer Service (ACATS) program, then contact your other broker to submit the transfer out electronically.
• If the other brokers is not ACATS eligible, they must provide outgoing trustee to trustee transfer paperwork or outgoing Direct Rollover paperwork. The completed documents…

Open an IBKR Traditional Rollover IRA Account and in the funding section, a letter will be created that informs your benefits administrator that you would like to directly roll your distribution into your IBKR Rollover IRA account. You will have to sign a form authorizing the move. Next, your employer will transfer your payout to your IBKR IRA account, or they will provide you with a check made out to IBKR…

Yes, IBKR supports internal funds or position transfers for IRA accounts with a matching Account Type, Account Title, and tax ID. The IRA accounts need to be the same type of IRA (ie. traditional/traditional or Roth/Roth) in both accounts. 

Request may be submitted within Client Portal:…

REQUEST CONVERSION

Use the button above to request a full or partial conversion…

An IRA Conversion is the transfer of funds from an eligible retirement plan (i.e., Traditional IRA, SEP, qualified plan assets including 401(k) and 403(b) plans) to a Roth IRA. The funds may be received under the same trustee or custodian, trustee-to-trustee or by rollover within the 60-day window allowed for rollovers…

A direct rollover is a distribution from a qualified retirement plan such as a pension, profit-sharing, Keogh (HR-10), or 403(b) Tax-Sheltered Annuity program, which is sent on your behalf directly to a new trustee/custodian. A direct IRA rollover can be accomplished by asking the administrator of your qualified plan to make the distribution directly to the new trustee/custodian. Only one direct rollover from an IRA account to another IRA account is permitted in any one-year period. Values distributed from a qualified retirement plan, which are not directly rolled over into an eligible qualified plan or IRA are subject to a 20% federal withholding tax…

INITIATE AN ACATS TRANSFER NOW

If the other broker participates in the Automated Customer Account Transfer Service (ACATS) program, you can transfer your existing IRA to Interactive Brokers via ACATS. Under normal circumstances, the ACATS transfer should take between four to eight business days…

Yes. A rollover takes place when the IRA funds are paid directly to you and re-deposited (roll-over) into an IRA within 60 calendar days of receipt. The 60-day period begins the day after you receive the payment. A rollover transaction from an IRA may not occur more than once during a 12-month period. This 12-month rule applies to each separate IRA you own and is determined from the date the IRA funds are received. (The 12-month limitation does not apply if the funds are transferred directly from one financial organization into another or if they are rolled over or directly rolled over from a Qualified Plan into an IRA)…

An IRA conversion to a Roth is subject to federal income tax withholding at a minimum rate of 10%, unless you elect not to have income tax withholding apply or if you choose another tax withholding rate to apply to the distribution. Consult your tax advisor…

To transfer a Rollover IRA to a Traditional IRA with IBKR you will need to set up an ACAT transfer in Client Portal. When setting up the ACAT transfer, you will need to select Traditional as the account type as Traditional and Rollover are considered the same for transfer purposes…

A reconversion is a second conversion (following a recharacterization) from a non-Roth IRA to a Roth IRA. In a reconversion, the taxpayer has already made a first conversion from a non-Roth to a Roth IRA and then recharacterized the conversion amount (including net earnings) back to a non-Roth IRA. You may not convert, re-characterize and then re-convert in the same tax year. 1099-R reporting is required for the distribution from the non-Roth IRA and Form 5498 for the contribution to the Roth IRA. Refer to…

The recharacterization of IRA contributions is a change of the annual contribution made to a Traditional or Roth IRA into the other IRA type. This includes the designation of a contribution plus earnings from one IRA type into the other IRA type.

Recharacterzied contributions do not include Roth Conversions or Rollovers…

Assets in a workplace retirement plan can be paid directly to your IRA, subject to plan rules.Contact your plan administrator to start the rollover process into your IBKR IRA. Some plans require you to initiate the process with their paperwork, while other plans prefer to receive the IBKR…

If you have an existing Roth IRA account and you would like to transfer it to a Roth IRA account with Interactive Brokers, you will want to select "Roth" as the IRA account type when applying for a new IRA account…