Transfer – This is a trustee-to-trustee exchange of funds. You have an unlimited number of transfers. This is a transfer between like accounts such as an IRA to IRA or Roth to Roth. This is not for a 401(k) to IRA.

  • A transfer request is submitted from the custodian/administrator when you would like to bring your money. It is required to have a signed acceptance letter from the accepting custodian/administrator.
  • Some custodian/administrators require a Medallion Signature Guarantee Stamp in order to process a transfer request. This is to provide security for the client. You can get a Medallion Signature Guarantee Stamp from most national banks. They will need to watch you sign the form and verify your identity (like a notary would).
  • Some custodian/administrators require a mailed original form, so they have the best version of your signature to compare to your signatures on file.
  • Some custodian/administrators require both the Medallion signature guarantee stamp and original forms, while some do not require either.
  • For an efficient transfer process in the shortest amount of time, it is best for the client who would like to have funds transferred, to ask their current custodian/administrator what they require to transfer the funds.

Rollover – A process when funds are moved from one account to another. This is a recordable event and can be sent to either the client or another custodian/administrator. This is best suited for moving funds from a qualified plan (401(k), 403B, Profit Sharing Plan…Etc) to an IRA or vice versa. It can also be done for an IRA to IRA transaction. You must initiate a rollover with your current custodian/ administrators.

  1. Direct Rollover – This is a rollover trustee to trustee. You would provide your current custodian/administrator with your new account number and request the funds be directly sent to the new custodian/administrator. You may need wiring instructions or check/mailing instructions.
  2. Indirect Rollover – This is the process when your current custodian/administrator send you funds personally. You then have 60 days to deposit the money in a retirement account. If you do not have the money in a retirement account before 60 days, you may be responsible for taxes on the funds. You can only do one of these per year.

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