Direct Transfer
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Definition of 'Direct Transfer'A transfer of assets from one type of tax-deferred retirement plan or account to another. Direct transfers are not considered to be distributions and are therefore not taxable as income or subject to any penalties for early distribution. This type of transfer is now usually done electronically, without a check being cut from one custodian to another. |
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Investopedia explains 'Direct Transfer'Direct transfers can be effected by the account or plan owner by filling out the requisite paperwork. Most transfers take several days to complete, although this process is now generally faster in the electronic and computer age than in the past. Direct rollovers from qualified plans are a form of direct transfer. |
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I am the beneficiary of an IRA and a Keogh. Can I combine them into one plan?
It depends. If you are a "spouse beneficiary" for both the Keogh and the IRA, then you may transfer or roll over the inherited IRA assets to your own Traditional IRA, and you can also roll over ... -
Can I roll over my IRA assets to a sheltered Canadian plan?
It does not appear that this is an option for you. The current version of the U.S. Code and the U.S./Canada Treaty do not allow for transfers or rollovers between U.S. and Canadian retirement ... -
If an employee covered by a SIMPLE leaves his employer within the two-year period and his new employer doesn't have a SIMPLE, what happens to the plan? Can the employee roll it over without penalty, or keep it at the old company until the two years expire
During the first two years after the SIMPLE IRA is established, assets held in the SIMPLE must not be transferred or rolled to another retirement plan. This two-year period, to which you refer ... -
I am in the second year of taking SEPP distributions from my IRA. Can I transfer some of the funds to a new IRA with different investment options?
The most recent guidance issued by the IRS and the Treasury Department is Revenue Ruling 2002-62. There is some disagreement in the field about the definition of account as it relates to "changes ... -
Are any special forms or documents required when transferring an IRA/SEP/SIMPLE to a Traditional IRA?
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