|Form Name & Function
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
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
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
installment payments for a period of 10 years or more,
a loan treated as a distribution,
required distributions from your retirement plan, and
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
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
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
Yes, if you have not rolled over the
assets from another traditional IRA within the previous 365
days. A regular rollover from one traditional IRA to another
must be completed within 60 days after the withdrawal from
the 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
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
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
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.
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?
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.
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
What are the tax implications of converting?
The amount of your traditional IRA
that you convert 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. Consult your financial advisor for more
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.
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 31 of each year subsequent to the year you reach
age 70½. Therefore, if you elect to defer your first year’s
RMD to April 1 of the following year you also must take your
second year’s RMD by December 31 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 that you are taking reasonable steps to remedy the
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 IRS Publication
590 for more details.
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).
To simplify your
record keeping for tax purposes, you may want to hold your
traditional IRA annual deductible contributions and
nondeductible contributions in separate traditional IRA
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 to be considered a “qualified withdrawal.”
First, the withdrawal must occur more than five years after
the year for which you first made a contribution to your
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
See IRS Publication 590 for more details.
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:
- All annual contributions.
- All traditional IRA conversion amounts (on a first-in, first-out basis).
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 any 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 any premature withdrawal penalty. A withdrawal of
previously untaxed traditional IRA conversion amounts is
considered taxable income and may be subject to any
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 any premature withdrawal penalty. See
IRS Publication 590 for more details.
Which withdrawals are subject to withholding?
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
Qualified distributions from your Roth IRA are generally not
subject to the 10% withholding that applies to traditional
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