Timothy Sumer

Need To Know 60 Day Rollover Rule We have gotten a lot of questions on the 60 day rollover rule. Were gonna give you two simple things you can do to make sure you don’t lose your tax advantage. One is the typical transfer of money from one institution to another. To make it simple and ease, let’s say you have money at fidelity and were transferring it to Schwab. Typically you fill out paperwork at Schwab and they transfer the money from fidelity to Schwab. Another way that you can do it is have fidelity make a check not payable to you, but payable to Schwab. For your benefit you take the check over their and it never starts the 60 day rollover rule. The way you initiate the 60 day rollover is if the check from fidelity is made payable to you. If it is payable to you it starts the rule and counts as a distribution. Hopefully this helps out, knowledge is power. Share the wealth.... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account