Managing an Existing IRA
Make an IRA contribution. Add money to an existing account for any of the following reasons:
Regular Contribution: Make a contribution to an existing account up to your annual contribution limit.
Direct Transfer: Move assets from one IRA account to another.
Rollover: Roll over assets from an IRA or an employer-sponsored retirement plan.
Annual Contribution Limits:
|Year||Under Age 50||Over Age 50|
Make an IRA Withdrawal
Withdraw money from an existing account for any of the following reasons:
Make a normal withdrawal from an existing account
Move money through a rollover or direct transfer
Withdraw a previous contribution
Withdraw if you are disabled
Settle a federal tax levy
Cancel a new IRA within 7 days of opening it
Manage Account More Information
Naming a beneficiary is highly recommended. Without naming a beneficiary, you run the risk of having your IRA assets paid to your estate and subject to probate. Refer to your IRA plan agreement to verify how your IRA assets will be distributed.