bell notificationshomepageloginNewPostedit profiledmBox

Hoots : What are the time limits on a 401k direct rollover? Is there a time limit from the date you request a direct rollover from your 401k until your former employer completes the transaction? When does the 60 day rollover clock - freshhoot.com

10% popularity   0 Reactions

What are the time limits on a 401k direct rollover?
Is there a time limit from the date you request a direct rollover from your 401k until your former employer completes the transaction? When does the 60 day rollover clock for the IRS begin?


Load Full (1)

Login to follow hoots

1 Comments

Sorted by latest first Latest Oldest Best

10% popularity   0 Reactions

The sixty day period starts when they cut the check. The old company will be able to tell you how long it takes from your request to when they process the check.

There are two ways around this issue:

Ask for a direct roll over. Some will do this some won't.
Ask for the check to be made to the new 401K or a rollover IRA . You must contact the new company first to get the exact information they want on the check. It will probably include an account number.

Also make sure that you know what funds you can rollover into the new account, and what can't be rolled over.

As for how long it takes for them to generate the check, I couldn't find in the guidelines a maximum processing, though I could find rules regarding the timeliness of the deposits.


Back to top Use Dark theme