IRA Rollover

What is an IRA rollover?

An IRA rollover is a tax-free distribution of cash or other assets from one retirement plan, 401k, or IRA (individual retirement plan) that are contributed to another retirement plan or IRA. The contribution to the second retirement plan or IRA is called a "rollover contribution."

What is a 401k Rollover?

When the IRA rollover is from a 401k, the term can be referred to as a 401k rollover. When someone leaves an employment, they usually do a 401k rollover into an IRA.

The IRA custodian reports the total value of the 401k rollover contributions received on Form 5498. A distribution from either a qualified plan or IRA is reported on Form 1099-R. A qualified rollover such as a 401k rollover or simply an IRA rollover will defer income taxes on the amount distributed until it is withdrawn from the IRA.

• 401k Rollover
• IRA Rollover into 401k
• 401k Transfer