Perhalps someone can help me I have a sizeable Simple IRA account I wanted to move it to IB But IB does not support a SImple IRA accounts. any idea of how to move it anyway ? I know I can convert to Roth but I do not want to pay taxes Thanks
Trying to move unlike IRAs at IB at any means would not be a good idea. You cannot convert IRAs at IB.
Thanks to your relply My CPa tells me I can close a simple IRa a nd open a trditional IRa as long as I opened Simple IRA for at least 2 years I comunicated with IB and this time they agreed so I am going to open an IRA account by transferring out of a simple IRA aacct,
Rollover, Traditional IRA, Traditional-401k are alike; Roth-401k, Roth IRA are similar. Savings Incentive Match PLan for Employees may be close to Traditional IRA. You might just check with IRS. If you have plans for Roth conversion, then IB is not your broker.