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dtessmann
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Are fees for rolling over a company retirement plan to an IRA deductible?

When I closed out my retirement plan with a former employer and moved it to a private IRA plan, I was charged a 'sales charge' that came out of the amount I was moving.  Is this 'sales charge' deductible?
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2 Replies

Are fees for rolling over a company retirement plan to an IRA deductible?

No but it might be taxable.  Unless you replaced the fee amount when you put it in the IRA.   It might be counted as a withdrawal.   Even if you paid the fees from your own money like a checking account it would not be deductible.  

 

 

Are fees for rolling over a company retirement plan to an IRA deductible?

it's no longer possible to deduct such fees.

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