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Form Name & Function PDF Mail Email
IRA Transfer of Assets / Rollover Request Form
  • Transfer assets from a non-Dodge & Cox Funds traditional or Roth IRA to an existing Dodge & Cox Funds traditional or Roth IRA
  • Request a rollover from your employer-sponsored retirement plan
IRA Recharacterization Form
  • Recharacterize all or part of an IRA conversion or contribution that you made into a Dodge & Cox Funds IRA
IRA Conversion Form
  • Convert your existing Dodge & Cox Funds traditional IRA to a Roth IRA
IRA Required Minimum Distribution Election Form
  • Make a Required Minimum Distribution election for your Dodge & Cox Funds IRA
IRA Distribution Request Form
  • Use this form to make one or more distributions from your existing Dodge & Cox Funds traditional or Roth IRA
FAQS

Below are some commonly asked questions regarding transferring, redeeming, or converting.

Transfers and Rollovers
  • Can I transfer or roll over a distribution I receive from my employer’s qualified retirement plan into a traditional IRA?

    Almost all distributions from employer plans or 403(b) arrangements are eligible for rollover to a traditional IRA. The main exceptions are: payments over the lifetime or life expectancy of the participant (or participant and a designated beneficiary), installment payments for a period of 10 years or more, a loan treated as a distribution, required distributions from your retirement plan, and hardship withdrawals.

    All or part of an eligible rollover distribution may be transferred directly into your traditional IRA. This is called a “direct rollover.” Alternatively, you may receive the distribution and make a regular rollover to your traditional IRA within 60 days. By making a direct or regular rollover, you can defer income taxes on the amount rolled over until you make withdrawals from your traditional IRA.

    Note: A qualified retirement plan administrator or 403(b) sponsor must withhold 20% of your taxable distribution for federal income taxes unless you elect a direct rollover. Your plan sponsor is required to provide you with information about direct and regular rollovers and withholding taxes before you receive your distribution and must comply with your directions to make a direct rollover.

    The rules governing rollovers are complicated. Be sure to consult your financial or tax advisor or IRS Publication 590 if you have questions about rollovers.

  • Can I make a regular rollover from my traditional IRA to another traditional IRA?

    Yes. If you have not rolled over the assets from another traditional IRA within the previous 365 days, such a regular rollover must be completed within 60 days after the withdrawal from your first traditional IRA. After making a rollover from one traditional IRA to another, you must wait one full year (365 days) before you can make another such rollover. However, at any time you may instruct a traditional IRA custodian to transfer assets directly to another traditional IRA custodian; this is called a “direct transfer” and is not considered a regular rollover. Accordingly, a direct transfer is not subject to the 365 day waiting period described above.

  • How do rollovers affect my traditional IRA contribution or deduction limits?

    Rollovers, if properly made, do not count toward the maximum contribution limits. Also, rollovers are not deductible and they do not affect your deduction limits as described above.

  • Can I transfer or roll over a taxable distribution from my employer’s qualified retirement plan into a Roth IRA?

    Yes, taxable distributions from qualified retirement plans or 403(b) arrangements are eligible for rollover or direct transfer to a Roth IRA. Under certain circumstances it may also be possible to make a direct transfer or rollover of a taxable distribution to a traditional IRA and then convert the traditional IRA to a Roth IRA. Consult your tax or financial advisor for further information.

  • Can I transfer or roll over a nontaxable distribution I receive from my employer’s qualified retirement plan into a Roth IRA?

    You may currently transfer or rollover after-tax deferrals from a Roth account under an employer’s 401(k) plan or 403(b) arrangement to a Roth IRA. If such amounts are rolled over to a Roth IRA, they are subject to standard rules for the start date and holding period that apply to the owner’s Roth IRA(s).

  • Can I make a rollover from my Roth IRA to another Roth IRA?

    Yes, if you have not received and rolled over the assets from another Roth IRA within the previous 365 days. Such a regular rollover must be completed within 60 days after the withdrawal from your first Roth IRA. After making a rollover from one Roth IRA to another, you must wait one full year (365 days) before you can make another such rollover. However, at any time you may instruct a Roth IRA custodian to transfer assets directly to another Roth IRA custodian; this is called a “direct transfer” and is not considered a rollover. Accordingly, a direct transfer is not subject to the 365 day waiting period described above.

  • How do rollovers affect my Roth IRA contribution limits?

    Rollovers, if properly made, do not count toward the maximum contribution limits. Also, you may make a rollover from one Roth IRA to another even during a year when you are not eligible to contribute to a Roth IRA.

Conversions
  • Can I convert an existing traditional IRA into a Roth IRA?

    Conversion may be accomplished in two ways. You can initiate a “direct transfer” from your traditional IRA to a Roth IRA, or you may choose to withdraw the amount you want to convert and roll it over to a Roth IRA.

    Caution: If you have reached age 70½ by the year in which you convert a traditional IRA to a Roth IRA, be careful not to convert any amount that would be a required minimum distribution. Required minimum distributions may not be converted to a Roth IRA.

  • What happens if I change my mind about converting?

    Recharacterizations
    You can undo a conversion (or change the character of a contribution) by transferring the amount you converted (or contributed) to a Roth IRA back to a traditional IRA. To do so, you must notify both the custodian of the traditional IRA and the custodian of the Roth IRA. The amount you want to undo will be treated as if it had not been converted (or that the contribution was made to the traditional IRA). This is called a “recharacterization.”

    If you want to recharacterize an amount, you must do so before the due date (including any extensions) for your federal income tax return for the year of the conversion or contribution. Also, any earnings on the recharacterized amount must be returned to the traditional IRA. The IRS automatically grants taxpayers who file their taxes by the deadline (on or about April 15th) a six-month extension of time to recharacterize or remove the excess contribution for the tax year covered by that filing.

    Reconversions
    If you convert and then recharacterize during a year, you can reconvert again to a Roth IRA (a “reconversion”) provided: If you convert from a traditional IRA to a Roth IRA and then recharacterize back to a traditional IRA, you must wait until the later of 30 days or until the next tax year after your original conversion before you will be allowed to reconvert. If you convert an amount more than once in a year, any additional conversion transactions will be considered invalid and subject to the rules for excess contributions.

  • What are the tax implications of converting?

    The amount you convert of your traditional IRA to a Roth IRA will be considered taxable income on your federal income tax return for the year of the conversion. All amounts converted from your traditional IRA are taxable except for your nondeductible contributions to the traditional IRA.

    If you convert a traditional IRA (or a SEP IRA or SIMPLE IRA) to a Roth IRA, under IRS rules income tax withholding will apply unless you elect not to have withholding. However, withholding income taxes from the amount converted (instead of paying applicable income taxes from another source) may adversely affect the anticipated financial benefits of converting. Consult your financial advisor for more information.

  • Can I convert a SEP IRA or SIMPLE IRA to a Roth IRA?

    If you have a SEP IRA or a SIMPLE IRA, you may convert it to a Roth IRA. However, with a SIMPLE IRA, this can be done only after the SIMPLE IRA has been in existence for at least two years.

  • Should I convert my traditional IRA to a Roth IRA?

    Only you can answer this question, in consultation with your tax or financial advisor. A number of factors, including the following, may be relevant: Conversion may be advantageous if you expect to leave the converted funds in your Roth IRA for at least five years and would like to be able to withdraw the funds under circumstances that will not be taxable (see below). The benefits of converting will also depend on whether you expect to be in the same tax bracket when you withdraw funds from your Roth IRA as the one you are in now.

    Note: There are important differences in the tax rules for Roth IRA assets attributable to annual contributions vs. assets that were converted from a traditional IRA. Therefore, to simplify your record keeping for tax purposes, you may want to hold your Roth IRA annual contributions and Roth IRA conversion amounts in separate Roth IRA accounts.

Withdrawals
  • When can I make withdrawals from my traditional IRA?

    You may withdraw amounts from your traditional IRA at any time. However, withdrawals before age 59½ may be subject to a 10% premature withdrawal penalty, in addition to regular income taxes.

  • When must I start making withdrawals?

    You must take your first required minimum distribution (RMD) from your traditional IRA for the calendar year you reach age 70½ by April 1 of the following calendar year. RMDs must continue to be taken annually by December 31st of each year subsequent to the year you reach age 70½. Therefore, if you elect to defer your first year’s RMD to April 1st of the following year you also must take your second year’s RMD by December 31st of that same year. If you maintain more than one traditional IRA, you may withdraw the required aggregate amount from any of the traditional IRAs. It is your responsibility to ensure that the required aggregate amount is taken each year.

    Your annual RMD amount is determined by dividing the prior year-end balance in your traditional IRA(s) by the combined deemed life expectancy of you and another hypothetical person who is 10 years younger than you. If you are married and your spouse is more than 10 years younger than you, the actual combined life expectancy of you and your spouse will be used if your spouse is your sole IRA beneficiary. The Custodian will calculate your RMD for you based on life expectancy tables published by the IRS. If you wish to take your RMD from your Dodge & Cox Funds—State Street Bank and Trust Company traditional IRA, call 800-621-3979 or request or download an IRA Required Minimum Distribution Form on this website.

  • What happens if I do not take my Required Minimum Distribution?

    The Internal Revenue Code imposes a severe 50% penalty on the difference between your RMD amount and your actual distributions during a given year. This penalty is applied each year you fail to take your RMD. The IRS may waive or reduce the penalty if you can show that your failure to receive your RMD was due to reasonable cause, and you are taking reasonable steps to remedy the problem.

    Because you may maintain other traditional IRAs in addition to a Dodge & Cox Funds—State Street Bank and Trust Company traditional IRA, it is your responsibility to ensure that your distributions are timely and in amounts which satisfy the IRS requirements. The RMD rules are complex; you may wish to consult your financial or tax advisor for assistance.

  • How are withdrawals from my traditional IRA taxed?

    Withdrawals of previously untaxed amounts are includable in your gross income in the taxable year that you receive them and are taxable as ordinary income. If you have made both deductible and non-deductible contributions, please refer to the question below. Amounts withdrawn will be subject to income tax withholding by the Custodian unless you elect not to have withholding. (See Part Three of this Disclosure Statement for additional information on withholding.) Amounts withdrawn before you reach age 59½ will be subject to a 10% premature withdrawal penalty, unless an exception applies (see below).

  • What are the exceptions to the 10% premature withdrawal penalty for traditional IRAs?

    Your receipt or use of any portion of your traditional IRA before you attain age 59½ generally will be treated as a premature withdrawal, subject to a 10% penalty.

    The 10% penalty will not apply if any of the following exceptions apply:

    • The withdrawal does not exceed the amount of your deductible unreimbursed medical expenses for the year (generally speaking, medical expenses paid during a year are deductible if they are greater than 7.5% of your adjusted gross income for that year).
    • The withdrawal does not exceed the amount you paid for health insurance coverage for you, your spouse, and dependents. This exception applies only if you have been unemployed and received federal or state unemployment compensation payments for at least 12 consecutive weeks. This exception applies to distributions during the year in which you received the unemployment compensation and during the following year, but not to any distributions received after you have been re-employed for at least 60 days.
    • The distribution is made pursuant to an IRS levy to pay overdue taxes.
    • The withdrawal is a qualified reservist distribution.

    In addition, amounts converted from a traditional IRA to a Roth IRA are includable in income, but exempt from the premature withdrawal penalty. Refer to Part Two of this Disclosure Statement for more information about converting your traditional IRA to a Roth IRA.

  • How are nondeductible contributions taxed when they are withdrawn?

    Withdrawal of nondeductible contributions (not including earnings) are tax free and are not subject to the 10% premature withdrawal penalty. However, if you made both deductible and nondeductible contributions to your traditional IRA, then each withdrawal will be treated as partly a distribution of your nondeductible contributions (not taxable) and partly a distribution of deductible contributions and earnings (taxable). The nontaxable amount is the portion of the amount withdrawn which bears the same ratio as your total nondeductible traditional IRA contributions bear to the total balance of all your traditional IRAs (including SEP IRAs, but not including Roth IRAs).

  • When can I make withdrawals from my Roth IRA?

    You may withdraw amounts from your Roth IRA at any time. If the withdrawal meets the requirements discussed below, it is tax free. Therefore, you pay no income tax on the withdrawal even though the withdrawal may include earnings on your contributions while they were held in your Roth IRA.

  • When must I start making withdrawals from my Roth IRA?

    In contrast to a traditional IRA, there are no requirements on when you must start making withdrawals from your Roth IRA or on minimum required withdrawal amounts during your lifetime.

  • What are the requirements for a tax-free Roth IRA withdrawal?

    To be tax free, a withdrawal from your Roth IRA must meet two requirements. First, the withdrawal must occur more than five years after the year for which you first made a contribution to your Roth IRA. This requirement takes into consideration all of your Roth IRAs. Once any of your Roth IRAs have been in existence for five years, this requirement is considered satisfied. For annual contribution Roth IRAs, the five-year period starts with the year for which you made the initial annual contribution. For conversion Roth IRAs, the five-year period starts with the year in which the conversion was made. A separate five year period applies to each conversion.

    Second, at least one of the following conditions must be satisfied:

    • You are age 59½ or older when you make the withdrawal.
    • The withdrawal is made to your beneficiary or estate after your death.
    • You are disabled (as defined in the tax code) when you make the withdrawal.
    • You are using the withdrawal to cover eligible “first-time homebuyer” expenses. These are the costs of purchasing, building or rebuilding a principal residence (including customary settlement, financing or closing costs). The purchaser may be you, your spouse, or a child, grandchild, parent or grandparent of you or your spouse. An individual is considered a first-time homebuyer if the individual did not have (or, if married, neither spouse had) an ownership interest in a principal residence during the two-year period immediately preceding purchase of the home. The withdrawal must be used for eligible expenses within 120 days after the withdrawal (if there is an unexpected delay, or cancellation of the purchase of the home, a withdrawal may be redeposited as a rollover). There is a $10,000 lifetime limit on the aggregate amount of distributions the IRA owner may take under this exception.
  • How are withdrawals from my Roth IRA taxed if the tax-free requirements are not met?

    If the qualified withdrawal requirements are not met, the tax treatment of a withdrawal depends on the character of the amounts withdrawn. To determine this, all your Roth IRAs are treated as one, including any Roth IRAs you may have established with other Roth IRA custodians. Amounts withdrawn are considered to come out in the following order:

    1. All annual contributions.
    2. All traditional IRA conversion amounts (on a first-in, first-out basis).
    3. Earnings.

    A withdrawal treated as prior annual contributions to your Roth IRA will not be considered taxable income in the year you receive it, nor will the 10% premature withdrawal penalty apply. A withdrawal consisting of previously taxed traditional IRA conversion amounts also is not considered taxable income in the year of the withdrawal, and is not subject to the 10% premature withdrawal penalty. A withdrawal of previously untaxed traditional IRA conversion amounts is considered taxable income and may be subject to the 10% premature withdrawal penalty. To the extent that the nonqualified withdrawal consists of earnings while your annual contributions and/or conversion amounts were held in your Roth IRA, the withdrawal is considered taxable income and may be subject to the 10% premature withdrawal penalty.

    As discussed above, for purposes of determining what portion of any nonqualified withdrawal is includable in your taxable income, all of your Roth IRA accounts must be considered as one single account. Therefore, withdrawals from your Roth IRAs are not considered to be from earnings until an amount equal to all prior annual contributions and all previously taxed traditional IRA conversion amounts made to all your Roth IRA accounts are withdrawn.

  • Which withdrawals are subject to withholding?

    Traditional IRAs
    Federal income tax will be withheld at a flat rate of 10% from any withdrawal from your traditional IRA, unless you elect not to have tax withheld. State withholding may also apply.

    Roth IRAs
    Qualified distributions from your Roth IRA are not subject to the 10% withholding that applies to traditional IRAs.

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