I currently have a Roth IRA Annuity (Life Insurance) that I am no longer making contributions to because my income exceeds the amount to maintain a Roth IRA. However, it still accumulates interest and I get penalized on my taxes every year because of the interest accrued. My question to USAA is: Can I transfer the funds in the USAA Roth IRA into the USAA Mutual Fund Standard IRA and close the the USAA Roth IRA? If so, I will incur any USAA or tax penalties? Thank you.
Have forwarded your question and account to the appropriate area @Lumberhack8698. While I can't provide a specific time for being contacted we appreciate your patience while waiting for a response. ~ Joseph