re: .

quote:

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Will there be any penalties by rolling it into the IRA?

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As long as you roll a roth into a roth, I don't believe there are penalties but don't quote me on that.

Just remember, you want the money to not go to you but straight to your new account if at all possible. I've never done it, I just know what you don't want is a check to you that you cash, then write a new check into the new account. You want to deposit the money straight from the old account to the new account.