Save time with our cheat sheets, fact sheets, checklists & books!

March 3, 2009

What is a transfer?

Print

What is a transfer?

What is a transfer?

A transfer is a non-reportable movement of assets, generally occurring between retirement accounts of the same type. For instance, from one Traditional IRA to another Traditional IRA. Assets are made payable to the receiving financial institution or plan for the benefit of the participant. The term trustee-to-trustee transfer is also used to refer to a ‘transfer’, and is sometimes used to refer to a direct rollover or a direct Roth conversion, to indicate that the assets are exchanged directly between custodians/trustees.

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.

More

Keep Learning

Excess deferral

Definition Salary deferral contributions, contributions are limited to the lesser of the IRC § 402(g) limit or 100% of compensation. Salary deferral contributions in excess

Deduction

Definition A deduction is a Tax write-off which is allowed for contributions to traditional IRAs or employer sponsored plans. Individuals who are active participants are

Annual Addition Limit

Definition The annual Addition limit is the maximum amount that may be added to a defined contribution plan on behalf of a participant for any

Individual Retirement Arrangement (IRA)

Definition Individual retirement arrangement (IRA) is an umbrella term that covers individual retirement account and individual retirement annuity. These are retirement savings vehicles established by

Be among the first to know when

IRA Rules
Change