Make an IRA rollover
Setting up a rollover IRA is quick and can be easy — with the help of an investment professional, of course.
Call an investment professional
To get started, contact an investment professional. That person can help:
- Determine if an IRA fits in your investment portfolio
- Guide your investment choices
- Complete the paperwork for you
- Point out any IRA fees and withdrawal restrictions
- Answer your questions
Be prepared to talk about your finances
Every person’s financial means and needs are different. To help you make a good decision, your investment professional needs to understand your situation. Don’t be afraid to talk openly about your:
- Financial situation
- Retirement vision and long-term financial goals
- Investing philosophy
Bring financial statements to the meeting
Once you’ve begun the conversation, back it up with real numbers. Gather some paperwork for your investment professional ahead of time, such as:
- Statements from your employer-sponsored retirement plan and other investments — including any other IRAs
- Checking and savings account information
Keep in mind, your IRA may be subject to market risks, including possible loss of principal.
To avoid tax withholding and possible penalties, be sure any loans on the retirement plan are paid off and your current plan custodian is instructed to send funds directly to your new rollover IRA custodian. Also know that neither Nationwide® nor its representatives provide tax or legal advice. You should consult with an attorney or other professional advisor for such advice.
Unless you are making withdrawals for qualified expenses, withdrawing any or all of the funds will trigger a 20% mandatory tax withholding and a 10% early withdrawal penalty, if you are under age 59½, in addition to paying ordinary income tax
Not a deposit • Not FDIC or NCUSIF insured• Not guaranteed by the institution • Not insured by any federal government agency • May lose value
