Complete a rollover into an IRA

Complete a rollover into an IRA

Directly transferring your distribution to an IRA allows you to avoid the mandatory 20% tax withholding and potential early withdrawal penalties, and you will defer income taxes on the distribution until you make withdrawals from the rollover IRA. 

If you choose to directly transfer your retirement plan monies, the assets will move from the qualified employer plan directly to your rollover IRA.

If you choose a lump sum distribution from your employer-sponsored plan you will have 60 days from the date you receive the funds to deposit them into a rollover IRA. This is called an indirect rollover and it is important to note that the 20% tax withholding will apply to the distribution, so you need to make up the difference before depositing the money to avoid taxes and penalties.


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This is meant for educational purposes only.  It should not be considered investment advice, nor does it constitute a recommendation to take a particular course of action. Please consult with a financial professional regarding your personal situation prior to making any financial related decisions. 04/19