Generally, if you don't have any income, you can't contribute to either a traditional or a Roth IRA. However, in some cases, married couples who file a joint return can make contributions to the IRA for the spouse who doesn't earn money based on the taxable compensation listed on their joint return. To contribute to the reinvestment of an IRA, you must open an IRA account and decide whether you want a traditional IRA or a Roth IRA. You can then initiate a transfer from your employer-sponsored plan to your IRA by contacting the plan administrator or financial institution that has your account.
They will provide you with the documentation and instructions needed to complete the transfer. A reverse reinvestment occurs when an IRA holder transfers money from their retirement account to a 401 (k). Generally, the IRA custodian or trustee only requires a signed contribution form to deposit the funds into an IRA. You can transfer an IRA to an IRA annuity with no tax consequences, just like you can transfer it to a 401 (k).
If you are retired and your spouse has earned income, he or she can contribute to his or her own IRA and also make what is called a spousal contribution to your IRA.