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I have a term ira at alaska usa credit union can i transfer it to a term ira at bank of america with a pentaly?
Wiki User
∙ 15y ago
When you transfer an IRA to an IRA there is not a penalty but if the IRA is in a certificate that has a maturity date the bank will charge a penalty if it is withdrawn before the maturity date. Every bank has different penalty amounts (usually 6-12 months interest)
Wiki User
∙ 15y ago
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