Which IRA should you consider for your rollover?
If you and/or your employer have... | Then you should consider... |
---|---|
Made only pre-tax contributions in an account such as a 401(k) or 403(b) |
Opening or using an existing Fidelity rollover IRA |
Made both pre-tax contributions AND post-tax contributions in an account such as a Roth 401(k) |
Opening or using an existing Fidelity rollover IRA for the pre-tax money AND a Roth IRA for the post-tax money |
Made only post-tax contributions |
Opening or using an existing Fidelity Roth IRA |
Made pre-tax contributions, but you would like to convert your money into post-tax contributions during the rollover |
Opening or using an existing Fidelity Roth IRA and be aware that rolling pre-tax money into a Roth IRA is a Roth conversion and is a taxable event |