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	<title>New answer on: Can An Annuity Be Rolled Into A 401K?</title>

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		<title>By: David Racich</title>

		<link>https://insurancelibrary.com/annuities/can-an-annuity-be-rolled-into-a-401k</link>

		<dc:creator>David Racich</dc:creator>

		<pubDate>Thu, 20 Jun 2013 15:34:32 +0000</pubDate>

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		<description><![CDATA[If you’re addressing existing non-qualified annuity and you desire to use in funding an 401(k), the following cautions are advised. Your name may be the same on the annuity as well as the IRA, but it reality, your changing ownership registration. If that happens your annuity, if effect, is being surrendered and that surrender will trigger an ordinary income tax event on the gain in the policy. If you’re under age 59 ½ an additional 10% penalty will be assessed as well. And don’t forget non-qualified annuity basis is tax free, by inserting it into an IRA; you give up the tax free status of basis because all IRA distributions are an ordinary income tax event. Before moving forward with any changes consult a tax advisor or CPA.
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