Transfers

A nonreportable movement of assets between IRAs and other retirement accounts.

Transfer

Definition A nonreportable movement of assets between retirement accounts of the same type. Generally, transfers occur between: Two traditional IRAs A traditional IRA and a

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Adjusted closing balance

Definition  The fair market value at the end of the computation period plus: Any distributions from the account Transfers from the account Recharacterizations made from

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Adjusted opening balance

Definition For purposes of computing the NIA (net income attributable) on a recharacterization or return of excess IRA  contribution. The fair market value of the IRA

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Outstanding Transfer

Definition A trustee-to-trustee transfer where the assets leave the delivering IRA in one year and credited to the receiving IRA in the following year.  

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Trustee-to-trustee transfer

Definition From a technical perspective, trustee-to-trustee-transfers means that the assets are paid to the receiving retirement custodian, trustee or other approved recipient. Within the retirement

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