Individual Retirement Account (IRA) rollover


The transfer of funds from one qualified retirement account, such as an IRA or an employer sponsored retirement plan to a newly established IRA whereby the plan owner withdraws funds from the former and reinvests them into the latter. If the transfer is completed within 60 days, the plan owner will avoid the 10% IRS penalty normally assessed on early withdrawals.

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bank trust custodial account recharacterization