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iputmybigboypantson OP t1_iugymsg wrote

Reply to comment by DeluxeXL in Fidelity making me open a new Roth instead of allowing me to rollover 403b funds into existing Roth? by iputmybigboypantson

Yes, Roth IRA. I can’t keep the 403b account, so the options as I see it are roll it over into my Roth IRA, or cash out and pay the 50+% taxes and penalties

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bradspits t1_iuh1mlf wrote

You can open a new traditional IRA, since you can’t really rollover from a regular 401k/403b to a Roth IRA without paying taxes on the earnings.

Having both a Roth and a traditional IRA is allowed, but you can only contribute up to the maximum yearly contribution between both.

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DeluxeXL t1_iuh0kgd wrote

You can create a traditional IRA account and roll over to it.

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