How do I move funds from a qualified plan or Tax-Sheltered Annuity (TSA) to an IRA?
An eligible qualified plan or TSA distribution may be either directly rolled over (direct rollover) or rolled over (rollover) to an IRA. Generally, an eligible rollver distribution is any distribution except one that is (1) one of a series of substantially equal periodic payments over the single or joint life expectancy of the employee and beneficiary or for a specified period of ten years or more and (2) a required distribution for an employee aged 70½ or older. A rollover occurs when funds distributed from your qualified plan or TSA are paid directly to you then subsequently rolled over by you into an IRA within 60 days. A direct rollover is a qualified plan or TSA distribution that is sent directly from the plan administrator (employer) to an IRA. Qualified plans and TSA distributions paid directly to you are subject to a mandatory 20 percent federal income tax withholding at the time of distribution. Funds moved to an IRA via a direct rollover are not subject to withholding. As wit
