This type of transaction is referred to as a Trustee-to-Trustee Transfer. If your retirement funds are already in an IRA elsewhere and you want to transfer them to an EECU IRA, we can request the IRA funds be sent to us from your current custodian utilizing a Trustee-to-Trustee Transfer request.
A transfer request is a direct movement of assets between like IRAs (Traditional IRA to Traditional IRA) and is from one financial organization to another; it is non-reportable to the IRS.
Please call us at 800-538-3328, email us at iradesk@myeecu.org, or visit your nearest EECU branch for assistance.
Important Consideration:
To facilitate the transaction more quickly, please be ready to provide us with a recent account statement from your current IRA holder. Once we receive the funds from them, we will mail copies of applicable forms and a receipt to you.
Important Disclosure: This information is for educational purposes and does not constitute tax or legal advice. Tax laws are complex and subject to change. EECU recommends consulting with a qualified tax advisor to determine your eligibility and the best IRA strategy for your specific financial situation.