What is the difference between direct rollover and rollover retirement accounts?
There are several ways funds in retirement accounts can be rolled over into a Trust Administration Services self directed IRA. The IRA Rollover occurs when an individual has taken a distribution personally from his IRA. The IRA owner has 60 days to rollover the distribution into another IRA retirement account. The rollover from a qualified plan such as a 401(k) occurs when an individual takes personal possession of his/her distributions from a qualified retirement plan. The plan administrator will withhold 20% of the distribution for tax purposes. Note: The IRS will only allow one rollover, per retirement account, during any 12 month period. The direct rollover from a qualified plan is similar to an IRA retirement account transfer. In such cases, the recipient of a qualified plan distribution chooses to have his distribution rolled over directly to another financial institution in order to open an IRA retirement account with those funds. The direct rollover option is the best option fo
