Can AIG Valic charge a fee for a Rollover into a similar account with a different firm?
I worked in a school district and setup a 403b with AIG Valic. I am trying to roll that money into a rollover IRA with Fidelity. After talking to Valic, they have stated that they can do the transfer, but they will need to charge me a 5% fee because I have made a contribution within the last 5 years. Is this legal? Can they charge me 5% of the value of the money that I put in myself?
Can I rollover my 401k to a similar account outside US due to my job transfer?
I am neither a US citizen nor a green card holder. I came in as resident alien (MNC) on work visa and have funds in 401k account. I have been transferred to a country where there are no income taxes. They have a similar 401k plan (however no tax). Will I be able to rollover all my US 401k funds to my new account without any tax impact in US? In my next year there will be no US income and I guess I don’t have to file return (since I am not a citizen or PR). Would it help if I withdraw or rollover next year?
Has anyone seen this done or done for themselves? Thanks for your time and any answer.
