Can Annuities Be Rolled Over Into An IRA? 
If youre addressing existing non-qualified annuity and you desire to use in funding an IRA , the following cautions are advised . Your name may be the same on the annuity as well as the IRA , but it reality , your changing ownership registration . If that happens your annuity , if effect , is being surrendered and that surrender will trigger an ordinary income tax event on the gain in the policy . If youre under age 59 an additional 10 % penalty will be assessed as well . And dont forget non-qualified annuity basis is tax free , by inserting it into an IRA ; you give up the tax free status of basis because all IRA distributions are an ordinary income tax event . Also keep in mind that IRAs have contribution limitations , $ 5,500 under age 50 and $ 6,500 over age 50 . Most non-qualified annuities are larger than that . Before moving forward with any changes consult a tax adviser or CPA . 