The answer depends upon whether the annuity was purchased inside an IRA or employer-sponsored ("qualified") plan. If so, then money can be transferred from the annuity to any other investment in that plan (for employer sponsored plans, that means only those investments permitted in that plan; for IRAs, it means any investment you wish to purchase within your IRA) without tax.
There may be surrender chargesimposed by the annuity, but the transfer will not be a taxable event.
If the annuity was purchased outside such plans (with after-tax dollars), then any distribution from the annuity (including a direct transfer to a mutual fund) will be taxable, to the extent of "gain" (contract value in excess of the amount you invested). In addition, if you're under age 59 1/2, there will be a penalty tax of 10% of the distribution (IRC Sect. 72(q)).
A money market fund is a mutual fund, but behaves a little different than most fund.
The first money market mutual fund (MMMF) was created in 1971 and called the Reserve Fund
The first money market mutual fund (MMMF) was created in 1971 and called the Reserve Fund
A no load mutual fund is a mutual fund that does not charge a commission or sales charge. This means that you don't have to pay a fee to invest or withdraw your money, and all of your money will go to work in the mutual fund. A no load mutual fund means that there is no or very low fee charge for the fund. These are typically lower than loaded mutual funds.
Mutual fund is a low risk investment. If you invest in a mutual fund, you owns shares of the mutual fund company who is selling you fund. But you do not actually own any underlying asset of the stocks or securities that mutual fund has invested in even they are using your money to invest.
The Reserve Fund was the first money market mutual fund
A money market fund is a mutual fund, but behaves a little different than most fund.
The first money market mutual fund (MMMF) was created in 1971 and called the Reserve Fund
The first money market mutual fund (MMMF) was created in 1971 and called the Reserve Fund
The first money market mutual fund (MMMF) was created in 1971 and called the Reserve Fund
A no load mutual fund is a mutual fund that does not charge a commission or sales charge. This means that you don't have to pay a fee to invest or withdraw your money, and all of your money will go to work in the mutual fund. A no load mutual fund means that there is no or very low fee charge for the fund. These are typically lower than loaded mutual funds.
The Reserve Fund was the first money market mutual fund
Yes you are taxed when withdrawing money from a mutual fund. Your current tax rate would apply.
Mutual fund is a low risk investment. If you invest in a mutual fund, you owns shares of the mutual fund company who is selling you fund. But you do not actually own any underlying asset of the stocks or securities that mutual fund has invested in even they are using your money to invest.
They can invest their own income/profits in a mutual fund but they cannot invest the depositors money in a mutual fund
Equity is the owners fund and mutual fund is pool money from the investor and invest in securities market. mutual fund has low risk an depends upon market condition.
Mutual fund is a single pool of money collected from a large number of investors. This money is invested in share, bonds and other securities by AMC. ICICI Prudential Mutual Fund offers mutual fund products that meet the customers needs.