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
- What types of Rollovers does Ellevest support?
- What is the rollover process?
- What other factors should I consider when deciding whether to roll over my 401(k) or 403(b) into an IRA?
- What fees or taxes are associated with a rollover?
- Can I roll over multiple 401(k)s or 403(b)s?
- Can I roll over my 401(k) or 403(b) to Ellevest if it has both Roth and traditional funds?
- How can I find out the status of my 401(k) or 403(b) rollover?
- What instructions do I need to call my 401(k)/403(b) provider?
- Can I make deposits to my Ellevest IRA while my 401(k) or 403(b) rollover is in progress?