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New Member
posted Nov 17, 2023 1:27:31 PM

Rollover from Schwab PCRA to a Traditional IRA at Navy Federal credit union

I recently moved all funds from a Charles Schwab PCRA (Personal Choice Retirement Account, pre tax) which was not invested in stocks/money market to a Traditional IRA at Navy Federal credit union.  Are there any tax implications that I need to be concerned about?

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2 Replies
Level 15
Nov 17, 2023 1:42:57 PM

No tax implications. Best if you did a direct institution to institution transfer. 

Level 15
Nov 17, 2023 1:44:53 PM

You will get a 1099R in January so watch for it.  It should not be taxable but you need to enter it into your tax return.