Funds Put into Brokerage Account Instead of Simple IRA
My employer has accidentally been putting funds into an individual brokerage account instead of in a Simple IRA. What is the best way to handle this money? Should I close the brokerage account and withdraw the full amount? Or is there a way to transfer it into a retirement account? I would like to know the best way to avoid a tax implication. I do not want/need the brokerage account, but can keep it if that is best.
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