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Knowledge Base Article

Move an IRA over to Delta Community

Can I move my IRA at another financial institution to an IRA at Delta Community?

Yes. An IRA of the same type must be established at the Credit Union, if you have not already done so. You may move your current IRA funds either by transfer or by taking a distribution and depositing the funds as a rollover contribution. IRAs at the Credit Union are cash accounts only, so you would need to liquidate any investments you are holding within the IRA before you complete the transaction. Transfers are non-reportable transactions, while distributions and subsequent rollovers are reportable and have certain restrictions.

An IRA owner may only rollover one distribution in a 12 month period, regardless of the number of IRAs that are owned. A rollover must be completed within 60 calendar days from the day after the distribution is received by the IRA owner.

If you have additional questions,  or to obtain appropriate forms, please contact the IRA Department by logging into Online Banking and submitting a message from Secure Email under Additional Services or by calling 1-800-544-3328.