Is a "IRA R/O" a traditional IRA or a Roth IRA

[ErinH · Accepted solution]

A rollover could be converted to a traditional or a roth. Rollover just means you are moving the money from one account to another. You should contact your financial institution to confirm what type of account you have.

When you save for retirement with an individual retirement arrangement, you probably receive a Form 5498. The institution that manages your IRA must report all contributions you make to the account during the tax year on the form. Depending on the type of IRA you have, you may need Form 5498 to report IRA contribution deductions on your tax return. If you have not received this form you should contact your financial institution.