Posts Tagged ‘rollover’

Relief for Missed Rollover Deadline

August 25, 2016

One of the more common mistakes people make in handling their retirement accounts is missing the 60-day deadline for completing a rollover. If you have a good excuse, you can get a ruling from the IRS that avoids the negative tax consequences, but that process is painfully expensive in time and money. Thanks to new guidance from the IRS, in many cases this won’t be necessary.


Moving Your IRA? Keep it Simple

May 26, 2010

If you’re moving an IRA from one financial firm to another you have two choices. One is a rollover, which involves taking a distribution from the existing account and, within 60 days, depositing it in the new account. The other is a direct transfer, sometimes called a trustee-to-trustee transfer, where the money goes from the old firm to the new one, untouched by human hands. Other things being equal, this is the preferable choice. (more…)

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