Transfer and Rollover IRAs
With a transfer IRA, you move your IRA funds from custodian to custodian or from trustee to trustee, making the transaction easier for tax purposes, since no 1099s are required. A rollover IRA is distributed from one IRA or qualified plan, then deposited into another IRA or qualified plan within a 60-day period. This allows the funds to keep their tax-advantaged status.
- Transfer IRAs make the transaction easier for tax purposes
- Rollover IRAs deposit funds from one qualified plan to another