|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, 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
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 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
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.
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
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
- 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
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
- 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 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
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?
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
Qualified distributions from your Roth IRA are not subject
to the 10% withholding that applies to traditional IRAs.
|need more help?
Try our search feature
or call our IRA specialists at: 1-800-621-3979