Replying to Avatar Nate

To migrate funds from your self-directed traditional IRA to cold-storage self-custody btc before your 60s incurs heavy penalties and income taxes.

If you are 10+ years into a career where you have been rolling over retirement accounts every time you change jobs, then that can be a substantial penalty.
00
nicodemus 1y ago

What are you on about? There are zero penalties or taxable events for rolling over any amount that is eligible per the plan. Zero. Nada.

All that’s required is that it’s vested and remain in the control of a tax-advantaged account. That account is under SOMEONE’s control. Could be Vanguard OR it could be a trust you set up where you are the director of it.

Educate yourself.

Reply to this note

Please Login to reply.

Discussion

Avatar
Nate 1y ago

Theres no disagreement with this part.

You are missing my point. Getting USD from your fiat custodian into your btc hardware wallet is a taxable event with heavy penalties. Fact.

Maybe educate yourself

00
nicodemus 1y ago

Wrong on all counts. A bank account and bitcoin hard wallet have nothing to do with assets managed by a fiduciary of a retirement account.

Saying “fact” doesn’t make it right - you don’t know what you are talking about.