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Finally, when you roll over an IRA, be sure to avoid some of the problems that can cost you in taxes and penalties.For instance, if you're doing an indirect rollover in which you take possession of your retirement funds, it's essential that you complete the rollover within a 60-day period.Don't let the immediacy of getting a rollover done lure you into spending more in fees than you really have to pay.Some IRA providers charge fees to act as custodian of your IRA.Many brokers try to charge money if you transfer stock or other securities from your account with them to another broker's account.In some cases, you'll pay a flat fee to make the transfer.If the stock is a capital asset in the shareholder’s hands, the transaction qualifies for capital gain or loss treatment.

So if your old financial company will charge you a fee, see if your business is important enough to your new financial provider for it to pick up the tab.However, you have to compare the costs of liquidating assets -- which can include commissions, deferred sales charges, and other liquidation fees -- against whatever the asset transfer costs are.Whichever is cheaper is typically the smarter move.Otherwise, your rollover will be treated as a taxable distribution of your retirement money, and you'll not only have to pay income taxes on the amount you withdrew from your old retirement account but also potentially pay a 10% penalty for early withdrawal if you're not yet 59 1/2 years old.Other traps for the unwary are also there to snare you if you're not careful.

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