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March 6, 2009

What is a rollover contribution

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What is a rollover contribution

Question What is a http://retirementdictionary.com/definitions/rollovercontribution rollover contribution?

Answer

A rollover (or rollover contribution) is a redeposit of assets that were withdrawn from a retirement account, such as an http://retirementdictionary.com/definitions/ira IRA, qualified plan, http://retirementdictionary.com/definitions/403bplan 403(b) account or a http://retirementdictionary.com/definitions/457plan 457(b) plan, to an eligible retirement account/plan. (See chart on page 1 for the plans between which rollovers can be completed.) There are two types of rollovers, http://retirementdictionary.com/definitions/indirectrollover indirect rollovers and http://retirementdictionary.com/directrollover direct rollovers. The withdrawal for both types are reported on IRS http://retirementdictionary.com/definitions/1099rirsform Form 1099-R. If the receiving account is an IRA, the rollover is reported on IRS http://retirementdictionary.com/definitions/5498form Form 5498.

Question answered by http://deniseappleby.com/ Denise Appleby

Written By

Denise Appleby

Denise is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA resources for financial/ tax/legal professionals. She has over 20 years of experience in the retirement plans field, which includes training and technical consultation.

Denise writes and publishes educational /marketing tools for advisors; available at http://irapublications.com. Denise co-authored several books on IRAs

Denise is a graduate of The John Marshall Law School, where she obtained a Masters of Jurisprudence in Employee Benefits, and has earned 5 professional retirement designations.
She has appeared on numerous media programs, sharing her insights on retirement tax laws.

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