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What is a Conduit IRA?
by Jim Bedsole, BOL Guru
Guru Bio
Question: I would like to know what a conduit IRA is and if this account is something to which the customer may contribute?
Answer: A quick Google search on "Conduit IRA" reveals the following from InvestorWords.com:
Definition:
A separate IRA established pursuant to a rollover from a qualified retirement plan. No intermingling of other funds such as regular (non-rollover) IRA contributions is permitted. Money in a conduit IRA may be rolled into a new employer's plan (if allowed), thereby preserving any favorable tax treatment associated with the distribution. There is no limit on the contributions transferred to a conduit IRA.
First published on BankersOnline.com 5/07/07
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