Rollover IRA Services - IRA Rollover 1. You need only to contact Elaine Nilsen, the IRA Administrator at NCT, to establish your IRA which will accept the transfer from an existing IRA or your former employer's qualified retirement plan. The process is simple and takes only a couple of minutes. A rollover can move the balance without changing the character of the account.
Rollovers avoid current income tax.
A rollover allows an IRA owner to move his or her retirement assets to a new trustee or custodian without incurring any current tax consequences. The reason for the rollover may be for a variety of reasons. An individual who ceases employment with an employer is permitted to move money from their former employer's retirement plan to an IRA without generating a taxable event. We provide great investment returns and outstanding service to our clients. If handled properly, you can transfer or rollover to an IRA without penalties.