Frequently Asked Question

October 15 2008 | Filed Under ยป ,

I have several CDs in my IRA with different maturities. Can I roll them over to another institution with a better rate as they mature?

The limitation on rollovers applies on a per IRA basis. In general, if an IRA is involved in an IRA-to-IRA rollover, it cannot be involved in another IRA-to-IRA rollover within the next 12-month period. However, this does not prevent the IRA from being moved to another IRA as a trustee-to-trustee transfer. There are no limits on the amount of times you can move assets between your IRAs as a trustee-tot-trustee transfer. In order to transfer the assets, contact the new IRA custodian/trustee and it initiate the transfer. You should avoid having the current custodian issue a check to you as a distribution.

To learn more, read Common IRA Rollover Mistakes.

This question was answered by Denise Appleby
(Contact Denise)
by

Denise Appleby

Denise Appleby
Denise Appleby is founder and owner of Appleby Retirement Consulting,which provides technical consultation, content, coaching, writing, editing and training services on related topics.


With more than 14 years of experience in the IRA and defined-contribution plans fields, Appleby has held several senior retirement-plan related positions with Pershing LLC, which included vice president of plans products and services, retirement plans manager, trainer, training manager, compliance consultant, technical help desk manager and writer.
Sponsored Links
Last Questions Asked:
Bank Rates
Product Today Last Wk
$10K MMA 0.50% 0.51%
MMA 0.45% 0.46%
6 Month CD 0.46% 0.47%
1 Year CD 0.70% 0.75%
5 Year CD 1.46% 1.47%
1 Year Jumbo CD 0.66% 0.67%
Rate data provided by Bankrate
Product Today Last Wk
$30K HELOC 4.60% 4.59%
$30K Home Equity Loan 5.74% 5.75%
$50K Home Equity Loan 5.45% 5.46%
$50K HELOC 4.24% 4.24%
$100K Home Equity Loan 5.41% 5.41%
$100K HELOC 4.13% 4.13%
Rate data provided by Bankrate
Product Today Last Wk
30 Year Fixed 3.81% 3.75%
15 Year Fixed 3.12% 3.03%
1 Year ARM 3.54% 3.53%
30 Year Fixed Jumbo 4.38% 4.38%
5/1 ARM 2.67% 2.68%
3/1 ARM 2.69% 2.64%
Rate data provided by Bankrate
Product Today Last Wk
60 Month Used Car Loan 4.51% 4.51%
48 Month Used Car Loan 4.35% 4.35%
48 Month New Car Loan 3.24% 3.24%
36 Month Used Car Loan 4.35% 4.36%
36 Month New Car Loan 3.12% 3.13%
60 Month New Car Loan 3.35% 3.34%
Rate data provided by Bankrate
Partner Links