What is a rollover?

  1. It is a distribution of the account balance from a workplace retirement plan or IRA into another workplace retirement plan or IRA, AND;
  2. It is a distribution in which the account balance was paid directly to you.

How does a rollover differ from a transfer?

In a transfer, the distributed amount is paid directly to the trustee or custodian of the receiving plan?

What are the time constraints for making a rollover?

You must complete the rollover with 60 days of receipt of the distribution.

Where can I rollover money from my Employer’s plan?

  1. An IRA
  2. A retirement plan of a new employer providing the employer will agree to accept the rollover

Can I rollover money from an IRA to my Employer’s plan?

  1. As to Roth IRAs? No.
  2. From a regular IRA, yes, BUT only if your employer’s plan allows it.
  3. No, for a non-spousal beneficiary of an inherited IRA.

Can I have more than one rollover in any 12-month period?

  1. NO! Any subsequent rollovers within that 12-month period will be considered taxable distributions.
  2. There is no restriction on the number of transfers that can occur within a 1r-month period, or subsequent to a rollover.