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IRA Rollover

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Last Updated On
ByMax

L1: IRA RolloverClient owns a qualified IRA annuity with a Life Benefit Rider allowing annuitant to recapture some of the market loss over the first 7 years of contract. Annuitant is allowed to annuitize loss over 20 year period. Say $3,000 a year over 20 years. In the second year of annuitization contract allows annuitant to take a discounted lump sum payment instead of continuing annual annuitization for the remaing 19 years. Does the lump sum payment qualify for once a year tax free rollover to another IRA plan without any penalties.2001-09-08 11:44, By: Max, IP: [127.0.0.1]
L2: RE: IRA RolloverI would check with the Custodian offering the plan. They should have the information that you are looking for.

It should probably qualify as a partial transfer since there is no real loss until the loss is realized.

2001-09-08 12:52, By: Gfw, IP: [127.0.0.1]

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