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Can I transfer retirement savings from my ROTH IRA to a SIMPLE IRA?
No, you cannot transfer funds from a Roth IRA to a SIMPLE IRA.
Roth IRAs and SIMPLE IRAs have different tax treatments:
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Roth IRA contributions are made with after-tax dollars, and qualified withdrawals are tax-free.
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SIMPLE IRA contributions are made with pre-tax dollars, and withdrawals are taxed as income.
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Because of these fundamental differences, the IRS does not allow direct transfers or rollovers between a Roth IRA and a SIMPLE IRA.
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