Yes, you can make deposits to an Ellevest IRA account while your rollover is in progress, as long you have linked a checking or savings account already. However, the IRS places a limit on yearly contributions to IRA accounts, so double check your year-to-date contributions before initiating anything. You can check the IRS rules here. Please note that a rollover is not considered a contribution and does not count towards the yearly contribution limit.
Articles in this section
- How to Find Your Investment Fees in your 401(k)/403(b)
- What instructions do I need to call my 401(k)/403(b) provider?
- How does the ACATS transfer work for IRAs?
- What are the benefits of an ACATS Transfer?
- How much can I contribute to my IRA?
- What if my current IRA provider doesn’t support electronic transfers?
- Can I make deposits to my Ellevest IRA while the transfer is in process?
- How do I add a beneficiary for my Ellevest Digital, Premium or membership IRA account?
- What happens if I entered the wrong information for my IRA transfer?
- If I have a “Rollover IRA” or a “Rollover Roth IRA”- can I transfer that account to Ellevest?