Go one penny over this amount and a report must be filed (currency transaction report). If you deposit checks or have the money wired in or direct deposited there is no form. It is for CASH only, going in or out of the bank.
The short answer is that yes, you can roll the funds from a traditional IRA into a 401(k) as long as the 401(k) plan allows it.The same goes for doing a rollover into a 403(b). The slightly longer answer is that you can only roll over tax deductible contributions and earnings.he short answer is that yes, you can roll the funds from a traditional IRA into a 401(k) as long as the 401(k) plan allows it. The same goes for doing a rollover into a 403(b).
You cannot deduct your contributions to a traditional IRA if you have a 401k plan, and your modified adjusted gross income (MGI) exceeds the annual limits for your filing status. These limits change each year, and you will find them in IRS Publication 590.he Internal Revenue Service does not limit your ability to contribute to any type of IRA if you have a 401k plan. However, you may not be able to deduct traditional IRA contributions.