About Rollovers:

Direct Rollovers



What is a Direct Rollover?

The direct rollover (also called "transfer") is a strategy for moving funds from one savings or investment vehicle directly into another. This is used for many different accounts, and is usually important to prevent or offset the tax obligations for receiving the money. In a direct rollover, you never actually receive the money, so you don't pay taxes on your earnings at that time.

Direct Rollover Rules
The rules for a direct rollover are pretty simple. If you have an account that is reaching maturity or maximum balance, you set up another savings account (like an annuity or a Roth IRA) to receive the money from that account. Then, when the time is appropriate, you simply have the money transferred straight into the new account. This makes the direct rollover one of the simplest ways to preserve the integrity of your retirement accounts.

When is the Direct Rollover Necessary?
The direct rollover is an essential part of moving funds from one account to another, regardless of the type of account. Whether you are moving money from an annuity or another qualified savings account to another account, it can save you thousands of dollars in penalties and taxes if done correctly. Getting your account set up properly for the transfer will be an important part of a well planned direct rollover.

The Importance of Timing Direct Rollovers
Because of the 60 day window (mentioned above), you will be better served if you have your new account set up in advance of the time you need to rollover your savings. The direct rollover is the safest and best way to handle most rollovers. Please contact one of our rollover specialists for a free direct rollover consultation.

Get Some Free Direct Rollover Advice
It can be expensive to get a financial strategist to help you plan the direct rollover of your retirement account. If possible, seek guidance from a professional rollover specialist that will offer free consultations. Of course, we offer these free financial needs consultations and have many specialists in direct rollovers ready to advise and assist you for free. Start by using the form above and we'll be in touch right away.


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