Direct Rollover

What Does Direct Rollover Mean?
A distribution of eligible rollover assets from a qualified plan, 403(b) plan, or a governmental 457 plan to a Traditional IRA, qualified plan, 403(b) plan, or a governmental 457 plan; or a distribution from an IRA to a qualified plan, 403(b) plan or a governmental 457 plan.

Investopedia explains Direct Rollover
Direct rollover assets are made payable to the qualified plan or IRA Custodian/Trustee, never to the individual.

A direct rollover is reportable but not taxable.

Related Terms

401(K)
403(B) Plan
Defined Benefit Plan
Defined Contribution Plan
Indirect Rollover
Individual Retirement Account - IRA
IRA Rollover
Rollover
SIMPLE IRA
Simplified Employee Pension - SEP
More Related Terms

Related Links

Introductory Tour through Retirement Plans - Here you will find tutorials that are each devoted to one the most common retirement plans, explaining how to establish, fund, and then take distributions from it.
Tax Relief For Katrina Victims - Find out if you qualify for the assistance offered to hurricane survivors by the U.S. government.
Find High Yield CDs - Retire in style. Search for the 100 highest yielding CD's from Bankrate.com. Click Here!
How After-Tax Rollovers Affect Your IRA - Consolidating retirement assets? Make sure you account for pre-tax and after-tax assets separately.
Transfer Retirement Savings When You Change Jobs - Half of Americans lose their nest eggs when they switch careers. Learn why you should avoid this trap.
Can I roll my 403(b) and 457 into other low-cost venders when I change jobs?
Know The Rules For Roth 401(k) Rollovers - Rolling a Roth 401(k) into a Roth IRA is usually the optimal thing to do.
I want to close my IRA account. What percentage will I lose to tax?

Rate this Term: Your Rating: Overall Rating: Vote Now!