Rollover IRA - Non-Roth and Roth

894 Views | 2 Replies | Last: 4 yr ago by rbag08
rbag08
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AG
I would like to rollover my 401K from my previous employer into my current Roth and IRA accounts that I already have setup in Fidelity. I was contributing 50% to Roth and 50% to Non-Roth with my last employer. It looks like ADP will send a distribution for each separate asset so I'll get a check for each. The IRA should be pretty straightforward as long as I deposit within 60 days. My concern is on the Roth. Can I deposit it directly into my Fidelity Roth account without penalty? For reference it should be around $45k in Roth funds.

Appreciate any help.
investorAg83
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AG
Yes. Same process for each. If the checks are made out to Fidelity FBO your name, the 60 day rule is irrelevant.

One to traditional. One to Roth. Forward the checks directly to Fidelity as you receive them (no endorsement) and Fidelity should add them to each account.
rbag08
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AG
Thanks! Appreciate the help
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