Rollovers
In general, there are rollovers and there are transfers. Both refer to money coming out of one qualified retirement plan and into another one.
A rollover is a distribution from a qualified retirement plan into an IRA or other qualified plan within a specific time frame, usually 60 days. These transfers can happen when leaving a job at an employer who offered a retirement plan such as a 401(k). Typically, the company will issue a check for the amount minus taxes. The company will provide the check and the participant must deposit the check into the new account within 60 days.
If you want to move the full amount, use a custodian to custodian transfer. Typically, the company will send the check directly to the new custodian. This should avoid any withholding or tax liability.
In either choice, it is very important to make sure you have the correct paperwork and that it is completed properly.
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