Menu

Updated

Can I transfer my SIMPLE IRA to Wealthfront?

You can transfer a SIMPLE IRA to a Wealthfront IRA tax-free through a “trustee-to-trustee transfer” if it’s been at least two (2) years since your employer first contributed to your SIMPLE IRA.

If your SIMPLE IRA is less than two (2) years old, transferring the account will not be tax-free, and the firm that holds your SIMPLE IRA will likely reject the transfer altogether. Learn more about SIMPLE IRA transfers on the IRS website.

Nothing in this blog should be construed as tax advice, a solicitation or offer, or recommendation, to buy or sell any security. Financial advisory services are only provided to investors who become Wealthfront Inc. clients pursuant to a written agreement, which investors are urged to read carefully, that is available at www.wealthfront.com. All securities involve risk and may result in some loss. For more information please visit www.wealthfront.com or see our Full Disclosure. While the data Wealthfront uses from third parties is believed to be reliable, Wealthfront does not guarantee the accuracy of the information.

This article is not intended as tax advice, and Wealthfront does not represent in any manner that the outcomes described herein will result in any particular tax consequence. Prospective investors should confer with their personal tax advisors regarding the tax consequences based on their particular circumstances. Wealthfront assumes no responsibility for the tax consequences to any investor of any transaction. Investors and their personal tax advisors are responsible for how the transactions in an account are reported to the IRS or any other taxing authority.

Was this article helpful?