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#1091098 - 12/03/08 06:46 PM IRA Levy?
Anonymous
Unregistered

Can a levy that is not from the IRS reach funds that are in an IRA account?

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#1091555 - 12/04/08 02:48 AM Re: IRA Levy? Anonymous
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 84,330
Galveston, TX
Most levy authorities exempt IRAs, but without knowing what type of levy and in which jurisdiction it is issued, it is difficult to give you an exact citation.
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#1091630 - 12/04/08 02:24 PM Re: IRA Levy? rlcarey
Midwest Banker Offline
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Joined: Nov 2004
Posts: 349
Cheeseland
You may want to try your state forum as each state has different rules on this. An IRS levy, unless it specifically states, cannot attach itself to retirement funds.

However the state level has different requirements which may allow them to attach these funds automatically. In the state of WI they are attached.

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#1091689 - 12/04/08 03:44 PM Re: IRA Levy? Midwest Banker
BrendaC Offline
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BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
The only levy I have every processe that attached an IRA account very clearly stated that it applied to the individual's IRA. Some even show in the fine print that they do not relate to retirement account funds.
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