Direct IRA Rollover

The Direct Rollover is a tax-free distribution to you of cash or other assets from one retirement plan that you contribute to another retirement plan, including an IRA. The contribution to the IRA is called a rollover contribution. The Direct Rollover method transfers the assets directly from the retirement plan (and not to the IRA owner) into the investor's IRA, avoiding the 20% mandatory IRS withholding. This option to transfer retirement assets has no age limitations.

Eligible retirement plans include:

  • Employer's qualified pension, profit -sharing, or stock bonus plan

  • Annuity plan

  • Tax sheltered annuity plan (section 403(b) plan)

  • Governmental deferred compensation plan (section 457 plan)

To enter a direct IRA rollover

  1. Click Transfer & Pay > Transfer Funds.

    • Alternatively, click Menu in the top left corner > Transfer & Pay > Transfer Funds

  2. If you have multiple accounts or account partitions, or if you have a master account and you manage one or more client or sub accounts, the Account Selector opens. Select the account you want to use for this transaction, or use the search function in the Account Selector to find the desired account. Click Continue to submit your account selection and close the Account Selector.

  3. From the tabs, select Make a Deposit.

  4. Select Direct Rollover Notification and fill out the contribution information and select Get Instructions.

  5. Click Finish to submit your deposit notification.

Note: This feature is only available in Client Portal.