If a retiree transfers his IRA from one fund to another IRA Account, is any tax due on the transferred amount.

Question

If a retiree transfers his IRA from one fund to another IRA Account, is any tax due on the transferred amount.

Answer 1

Generally you will owe no taxes for such a transfer.  The exception is moving from a regular account to a Roth account.  If you do that, you will owe the taxes on the capital gains growth of your contributions on the regular account.

Also, make sure you do this only from custodian to custodian accounts and then expect the required distributions to increase.

Answer 2

No.  Just make sure that you do a direct custodian-to-custodian transfer.  Do not withdraw the funds yourself.

Answer 3

No tax due, as long as the transfer is made directly, or if the money is sent to the person, they get it into the rollover IRA within 60 days - it's simpler if the money is transferred directly by the trustee from one IRA to the other.

Answer 4

Stated another way, don't touch the money yourself.