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href="#icon-drawer-arrow"></use> </svg></div> <ul id="mntl-toc__list_1-0" class="comp mntl-toc__list mntl-toc__list-heading expert-content"><li id="mntl-toc__list-item_1-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_1-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-what-is-an-ira-rollover" rel="nocaes" id="mntl-toc__list-item-link_1-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">What Is an IRA Rollover?</span></a></div></li> <li id="mntl-toc__list-item_2-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_2-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-understanding-ira-rollovers" rel="nocaes" id="mntl-toc__list-item-link_2-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">Understanding IRA Rollovers</span></a></div></li> <li id="mntl-toc__list-item_3-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_3-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-direct-ira-rollover" rel="nocaes" id="mntl-toc__list-item-link_3-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">Direct IRA Rollover</span></a></div></li> <li id="mntl-toc__list-item_4-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_4-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-indirect-ira-rollover" rel="nocaes" id="mntl-toc__list-item-link_4-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">Indirect IRA Rollover</span></a></div></li> <li id="mntl-toc__list-item_5-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_5-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-special-considerations" rel="nocaes" id="mntl-toc__list-item-link_5-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">Special Considerations</span></a></div></li> <li id="mntl-toc__list-item_6-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_6-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-what-is-a-direct-rollover" rel="nocaes" id="mntl-toc__list-item-link_6-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">What is a direct rollover?</span></a></div></li> <li id="mntl-toc__list-item_7-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_7-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-what-is-an-indirect-rollover" rel="nocaes" id="mntl-toc__list-item-link_7-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">What is an indirect rollover?</span></a></div></li> <li id="mntl-toc__list-item_8-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_8-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-can-i-take-a-loan-from-my-ira" rel="nocaes" id="mntl-toc__list-item-link_8-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">Can I take a loan from my IRA?</span></a></div></li></ul></div></div></div></div> </div><div class="loc article-pre-content"><ul id="breadcrumbs_1-0" class="comp breadcrumbs mntl-breadcrumbs mntl-block" data-tracking-container="true"><li id="mntl-breadcrumbs__item_1-0" class="comp mntl-breadcrumbs__item mntl-block"><a href="https://www.investopedia.com/retirement-planning-4689695" rel="nocaes" id="mntl-text-link_1-0" class="mntl-text-link mntl-breadcrumbs__link" data-tracking-container="true" ><span class="link__wrapper">Retirement Planning</span></a></li> <li id="mntl-breadcrumbs__item_2-0" class="comp mntl-breadcrumbs__item mntl-block"><a href="https://www.investopedia.com/ira-4689693" rel="nocaes" id="mntl-text-link_2-0" class="mntl-text-link mntl-breadcrumbs__link" data-tracking-container="true" ><span class="link__wrapper">IRAs</span></a></li></ul> <header id="article-header_1-0" class="comp article-header mntl-block right-rail__offset js-toc-appear"><h1 id="article-heading_1-0" class="comp article-heading mntl-text-block">IRA Rollover: Overview, Types, Special Considerations</h1> <div id="sponsorship-wrapper_1-0" class="comp sponsorship-wrapper mntl-block"></div> <div id="article-meta_1-0" class="comp article-meta mntl-block" data-tracking-container="true"><div id="finance-bylines_1-0" class="comp finance-bylines mntl-bylines"><div id="mntl-bylines__group_1-0" class="comp mntl-bylines__group mntl-block mntl-bylines__group--author"><div id="mntl-bylines__item_1-0" class="comp mntl-bylines__item mntl-attribution__item mntl-attribution__item--has-date"> <span class="mntl-attribution__item-descriptor">By</span> <div data-tooltip="<p>Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia.</p>" tabindex="0" data-inline-tooltip="true"> <a href="https://www.investopedia.com/contributors/53409/" rel="nocaes" data-trigger-link="true" class="mntl-attribution__item-name" tabindex="-1" >Julia Kagan</a> <div id="mntl-author-tooltip_1-0" class="comp mntl-author-tooltip mntl-tooltip mntl-group"> <div class="mntl-author-tooltip__top "> <div class="mntl-author-tooltip__image-wrapper"> <div class="img-placeholder" style="padding-bottom:99.9%;"> <img 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</noscript> </div> </div> <a href="https://www.investopedia.com/contributors/53409/" rel="nocaes" id="finance-author-tooltip__link_1-0" class="finance-author-tooltip__link mntl-text-link " data-tracking-container="true" ><span class="link__wrapper">Full Bio</span></a> <div id="finance-author-tooltip__social_1-0" class="comp finance-author-tooltip__social finance-social-nav mntl-social-nav" data-tracking-container="true"> <ul class="social-nav__list"> <li class="social-nav__item social-nav__item--linkedin"> <a href="https://www.linkedin.com/in/julia-kagan-4118147/" target="_blank" rel="noopener nofollow sponsored noskim" data-text="Follow" class="social-nav__link social-nav__link--linkedin" aria-label="Visit Julia Kagan's LinkedIn" > <svg class="icon icon-linkedin social-nav__icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-linkedin" href="#icon-linkedin"></use> </svg> </a> </li> </ul> </div> <div class="mntl-author-tooltip__bio"> <p>Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia.</p> </div> </div> <div class="mntl-author-tooltip__bottom"> <span class="mntl-author-tooltip__learn-more-text">Learn about our </span> <a href="/legal-4768893#editorial-policy" rel="nocaes" class="mntl-author-tooltip__learn-more-link" >editorial policies</a> </div> </div></div> </div> <div class="mntl-attribution__item-date">Updated September 02, 2024</div></div> <div id="mntl-bylines__group_2-0" class="comp mntl-bylines__group mntl-block mntl-bylines__group--finance_reviewer"><div id="mntl-bylines__item_2-0" class="comp mntl-bylines__item mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Reviewed by</span> <div data-tooltip="Toby Walters is a financial writer, investor, and lifelong learner. 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He has a passion for analyzing economic and financial data and sharing it with others. </div> </div> <div class="mntl-author-tooltip__bottom"> <span class="mntl-author-tooltip__learn-more-text">Learn about our </span> <a href="/investopedia-financial-review-board-5076269" rel="nocaes" class="mntl-author-tooltip__learn-more-link" >Financial Review Board</a> </div> </div></div> </div></div> <div id="mntl-bylines__group_3-0" class="comp mntl-bylines__group mntl-block mntl-bylines__group--fact_checker"><div id="mntl-bylines__item_3-0" class="comp mntl-bylines__item mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Fact checked by</span> <div data-tooltip="Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. She has conducted in-depth research on social and economic issues and has also revised and edited educational materials for the Greater Richmond area." tabindex="0" data-inline-tooltip="true"> <a href="https://www.investopedia.com/vikki-velasquez-5198872" rel="nocaes" data-trigger-link="true" class="mntl-attribution__item-name" tabindex="-1" >Vikki Velasquez</a> <div id="mntl-author-tooltip_3-0" class="comp mntl-author-tooltip mntl-tooltip mntl-group"> <div class="mntl-author-tooltip__top "> <div class="mntl-author-tooltip__image-wrapper"> <div class="img-placeholder" style="padding-bottom:124.9%;"> <img data-srcset="https://www.investopedia.com/thmb/QJYyUU7ykJV_Zi3Z6PGQ84B27UM=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/vikki-velasquez-investopedia-portrait-1-18b989d75f1f4d6d9b5b3a47cb3ffc5f.jpg 90w" data-sizes="90px" data-src="https://www.investopedia.com/thmb/woU3YzPYsSeHnXIX3xcxyg6INEc=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/vikki-velasquez-investopedia-portrait-1-18b989d75f1f4d6d9b5b3a47cb3ffc5f.jpg" alt="Vikkie Velasquez" class="lazyload mntl-author-tooltip__image" width="90" height="200" /> <noscript> <img src="https://www.investopedia.com/thmb/woU3YzPYsSeHnXIX3xcxyg6INEc=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/vikki-velasquez-investopedia-portrait-1-18b989d75f1f4d6d9b5b3a47cb3ffc5f.jpg" srcset="https://www.investopedia.com/thmb/QJYyUU7ykJV_Zi3Z6PGQ84B27UM=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/vikki-velasquez-investopedia-portrait-1-18b989d75f1f4d6d9b5b3a47cb3ffc5f.jpg 90w" alt="Vikkie Velasquez" width="90" height="200" class="img--noscript mntl-author-tooltip__image" /> </noscript> </div> </div> <div id="mntl-author-tooltip__name_2-0" class="comp mntl-author-tooltip__name mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Fact checked by</span> <span id="mntl-author-tooltip__name_2-0" class="comp mntl-author-tooltip__name mntl-attribution__item mntl-attribution__item-name">Vikki Velasquez</span> </div> <a href="https://www.investopedia.com/vikki-velasquez-5198872" rel="nocaes" id="finance-author-tooltip__link_3-0" class="finance-author-tooltip__link mntl-text-link " data-tracking-container="true" ><span class="link__wrapper">Full Bio</span></a> <div id="finance-author-tooltip__social_3-0" class="comp finance-author-tooltip__social finance-social-nav mntl-social-nav" data-tracking-container="true"> <ul class="social-nav__list"> <li class="social-nav__item social-nav__item--linkedin"> <a href="https://www.linkedin.com/in/vikkivelasquez/" target="_blank" rel="noopener nofollow sponsored noskim" data-text="Follow" class="social-nav__link social-nav__link--linkedin" aria-label="Visit Julia Kagan's LinkedIn" > <svg class="icon icon-linkedin social-nav__icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-linkedin" href="#icon-linkedin"></use> </svg> </a> </li> </ul> </div> <div class="mntl-author-tooltip__bio"> Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. She has conducted in-depth research on social and economic issues and has also revised and edited educational materials for the Greater Richmond area. </div> </div> <div class="mntl-author-tooltip__bottom"> <span class="mntl-author-tooltip__learn-more-text">Learn about our </span> <a href="/legal-4768893#editorial-policy" rel="nocaes" class="mntl-author-tooltip__learn-more-link" >editorial policies</a> </div> </div></div> </div></div> </div></div></header> <figure id="article-primary-image_1-0" class="comp article-primary-image mntl-universal-primary-image primary-image"> <div class="primary-image__media"> <div class="img-placeholder" style="padding-bottom:66.6%;"> <img src="https://www.investopedia.com/thmb/vRqbN9Dd46NWWzlCa4PE7Mw_x9Q=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/irarollover-002525f2b52d411bbe66efcfef5b7f41.jpg" width="8192" height="5464" srcset="https://www.investopedia.com/thmb/rFmzLsmDYj5rBL-KTNPP8-q4Je0=/750x0/filters:no_upscale():max_bytes(150000):strip_icc()/irarollover-002525f2b52d411bbe66efcfef5b7f41.jpg 750w" sizes="750px" alt="Two met sit at a table and talk with laptops, tablets, coffee, and water" class=" primary-image__image mntl-primary-image--blurry" onload="(function(e){e.classList.add('loaded')})(this)" style="--blurry: url('data:image/gif;charset=utf-8;base64,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')" /> <noscript> <img src="https://www.investopedia.com/thmb/vRqbN9Dd46NWWzlCa4PE7Mw_x9Q=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/irarollover-002525f2b52d411bbe66efcfef5b7f41.jpg" width="8192" height="5464" class="loaded primary-img--noscript primary-image__image mntl-primary-image--blurry" srcset="https://www.investopedia.com/thmb/rFmzLsmDYj5rBL-KTNPP8-q4Je0=/750x0/filters:no_upscale():max_bytes(150000):strip_icc()/irarollover-002525f2b52d411bbe66efcfef5b7f41.jpg 750w" sizes="750px" alt="Two met sit at a table and talk with laptops, tablets, coffee, and water" /> </noscript> </div> </div> <figcaption id="primary-image__figcap_1-0" class="comp primary-image__figcap mntl-figure-caption figure-article-caption"> <span class="figure-article-caption-owner"><p>skynesher / Getty Images</p></span> </figcaption></figure> </div><div class="loc article-content"><div id="article__primary-video-container--jw_1-0" class="comp article__primary-video-container--jw mntl-block"></div> <div id="article__broad-video--jw_1-0" class="comp article__broad-video--jw mntl-jwplayer-broad mntl-block is-hidden" data-pixel-depth="100"><div id="mntl-jwplayer-broad__video_1-0" class="comp mntl-jwplayer-broad__video mntl-jwplayer mm-video lazyload" data-bgset data-sizes="auto"></div> <div id="mntl-jwplayer-broad__title_1-0" class="comp mntl-jwplayer-broad__title mntl-block"><div id="mntl-jwplayer-broad__title--text_1-0" class="comp mntl-jwplayer-broad__title--text mntl-text-block type--mouse"></div> <button id="mntl-jwplayer-broad__title-icon--close_1-0" class="comp mntl-jwplayer-broad__title-icon--close mntl-block type--shrew-bold" data-click-tracked="false"><span id="mntl-text-block_1-0" class="comp mntl-text-block">Close</span> <svg class="icon close-icon " > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#close-icon" href="#close-icon"></use> </svg></button></div></div> <div id="article-body_1-0" class="comp article-body mntl-block" data-contain-tooltips="true"><div id="mntl-sc-page_1-0" class="comp mntl-sc-page mntl-block article-body-content" data-sc-sticky-offset="80" data-sc-ad-label-height="0" data-sc-ad-track-spacing="90" data-sc-min-track-height="250" data-sc-max-track-height="600" data-sc-breakpoint="50em" data-sc-load-immediate="1" data-sc-content-positions="[300, 1, 1, 1250, 1, 1, 1, 1]" data-bind-scroll-on-start="true"><span class="heading-toc" id="toc-what-is-an-ira-rollover"></span><h2 id="mntl-sc-block_1-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> What Is an IRA Rollover? </span> </h2> <p id="mntl-sc-block_2-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> An IRA rollover is a transfer of funds from a retirement account, such as an <a href="https://www.investopedia.com/terms/e/employer_sponsored_plan.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">employer-sponsored plan</a>, into an individual retirement account (IRA). The purpose of a rollover is to maintain the tax-deferred status of those assets. </p> <div id="mntl-sc-block_3-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_4-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> IRA rollovers are commonly used to hold <a href="https://www.investopedia.com/terms/1/401kplan.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">401(k)</a>, 403(b), or profit-sharing plan assets that are transferred from a former employer’s sponsored retirement account or qualified plan. An IRA rollover can also occur as an IRA-to-IRA transfer.<br> </p> <div id="mntl-sc-block_5-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_6-0" class="comp mntl-sc-block finance-sc-block-callout mntl-block"><div id="mntl-sc-block_7-0" class="comp mntl-sc-block mntl-sc-block-callout mntl-block theme-whatyouneedtoknow" data-tracking-id="mntl-sc-block-callout" data-tracking-container="true"><h3 id="mntl-sc-block-callout-heading_1-0" class="comp mntl-sc-block-callout-heading mntl-text-block">Key Takeaways</h3> <div id="mntl-sc-block-callout-body_1-0" class="comp mntl-sc-block-callout-body mntl-text-block"><ul><li>An IRA rollover allows you to transfer funds from a retirement account into an individual retirement account (IRA), while preserving the tax-deferred status of those assets.</li><li>There are two main types of IRA rollovers—direct and indirect⁠—and it’s crucial to follow Internal Revenue Service (IRS) rules to avoid paying taxes and penalties.</li><li>A direct rollover is the safest way to move assets from one retirement account to another as the funds are transferred without you handling the funds.</li><li>If you choose to handle the funds yourself in an indirect rollover, they must be transferred to the new IRA within 60 days. If not, you’ll be subject to taxes and penalties.</li></ul></div></div></div> <span class="heading-toc" id="toc-understanding-ira-rollovers"></span><h2 id="mntl-sc-block_8-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Understanding IRA Rollovers </span> </h2> <p id="mntl-sc-block_9-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> IRA rollovers can occur from a retirement account, such as a 401(k) into an IRA or as an IRA-to-IRA transfer. You can also <a href="https://www.investopedia.com/ask/answers/081815/can-variable-annuity-be-rolled-ira.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">rollover employer retirement variable annuity</a> contracts such as <a href="https://www.investopedia.com/terms/1/457plan.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">457</a> or <a href="https://www.investopedia.com/terms/1/403bplan.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="3">403(b) plans</a>. </p> <div id="mntl-sc-block_10-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_11-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Most rollovers take place when people <a href="https://www.investopedia.com/articles/personal-finance/092214/guide-401k-and-ira-rollovers.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">change jobs and wish to move 401(k) or 403(b) assets</a> into an IRA, but IRA rollovers also happen when retirement savers want to switch to an IRA with better benefits or investment choices.<span class="ql-inline-citation" data-cite="3"></span> </p> <div id="mntl-sc-block_12-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_13-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> There are different types of IRA rollovers: direct and indirect. It’s crucial to follow <a href="https://www.investopedia.com/terms/i/irs.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">Internal Revenue Service (IRS)</a> rules to avoid paying taxes and penalties. </p> <div id="mntl-sc-block_14-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <span class="heading-toc" id="toc-direct-ira-rollover"></span><h2 id="mntl-sc-block_15-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Direct IRA Rollover </span> </h2> <p id="mntl-sc-block_16-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> In a <a href="https://www.investopedia.com/terms/d/directrollover.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">direct rollover</a>, the transfer of assets from a retirement plan to an IRA is facilitated by the two financial institutions involved in the transfer. To engineer a direct rollover, you need to ask your <a href="https://www.investopedia.com/terms/p/plan_administrator.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">plan administrator</a> to send the funds directly to the IRA. In IRA-to-<a href="https://www.investopedia.com/terms/i/ira-transfer.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="3">IRA transfers</a>, the custodian from the old account sends the rollover amount to the custodian of the new IRA.<span class="ql-inline-citation" data-cite="3"></span> </p> <div id="mntl-sc-block_17-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <span class="heading-toc" id="toc-indirect-ira-rollover"></span><h2 id="mntl-sc-block_18-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Indirect IRA Rollover </span> </h2> <p id="mntl-sc-block_19-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> In an <a href="https://www.investopedia.com/terms/i/indirect-rollover.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">indirect rollover</a>, the assets from your existing account or plan are liquidated and the custodian or plan sponsor mails a check made out to you or deposits the funds directly into your personal bank or brokerage account. This route leaves it up to you to redeposit the funds into the new IRA. </p> <div id="mntl-sc-block_20-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_21-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> To be considered a tax-free rollover, the money must be deposited in the IRA <a href="https://www.investopedia.com/ask/answers/08/distribution-traditional-ira.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">within 60 days</a>. If you miss the 60-day deadline, then the withdrawal will be considered a <a href="https://www.investopedia.com/terms/d/distribution.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">distribution</a> in the eyes of the IRS, and some of it may be subject to income tax as well as an early withdrawal penalty. In general, withdrawals before age 59½ from a <a href="https://www.investopedia.com/terms/t/traditionalira.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="3">traditional IRA</a> trigger a 10% penalty. If you withdraw <a href="https://www.investopedia.com/terms/r/rothira.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="4">Roth IRA</a> earnings before age 59½, a 10% penalty usually applies. Roth contributions are not subject to the penalty. The same rules apply if you are doing an IRA-to-IRA rollover.<span class="ql-inline-citation" data-cite="4"></span><span class="ql-inline-citation" data-cite="5"></span> </p> <div id="mntl-sc-block_22-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_23-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> The IRS requires your previous employer to withhold 20% of your funds if you receive a check made out to you, which cannot be recovered until you file your annual tax return. But if the check is made out to the IRA, then you will not subject to withholding. Custodians will withhold 10% from IRA distributions that you intend to roll over unless you elect out of withholding.<span class="ql-inline-citation" data-cite="3"></span><br/> </p> <div id="mntl-sc-block_24-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_25-0" class="comp mntl-sc-block finance-sc-block-callout mntl-block"><div id="mntl-sc-block_26-0" class="comp mntl-sc-block mntl-sc-block-callout mntl-block theme-important" data-tracking-id="mntl-sc-block-callout" data-tracking-container="true"><h3 id="mntl-sc-block-callout-heading_2-0" class="comp mntl-sc-block-callout-heading mntl-text-block"></h3> <div id="mntl-sc-block-callout-body_2-0" class="comp mntl-sc-block-callout-body mntl-text-block"><p><br>Some people choose an indirect rollover if they want to take <a href="https://www.investopedia.com/ask/answers/03/120103.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">a short-term loan from their retirement account</a>—in this case, less than 60 days.</p></div></div></div> <span class="heading-toc" id="toc-special-considerations"></span><h2 id="mntl-sc-block_27-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Special Considerations </span> </h2> <h3 id="mntl-sc-block_28-0" class="comp mntl-sc-block finance-sc-block-subheading mntl-sc-block-subheading"> <span class="mntl-sc-block-subheading__text"> IRA Rollover Limits </span> </h3> <p id="mntl-sc-block_29-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> The IRS limits IRA-to-IRA indirect rollovers to one every 12 months. The one-year calendar runs from when you made the distribution and applies to traditional IRA-to-traditional IRA rollovers or Roth IRA-to-Roth IRA rollovers. </p> <div id="mntl-sc-block_30-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_31-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> The limit on IRA-to-IRA indirect rollovers does not apply to distributions from employer-sponsored retirement plans or rollovers from traditional IRAs to Roth IRAs. The latter is known as a <a href="https://www.investopedia.com/terms/i/iraconversion.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">Roth conversion</a>. Direct IRA-to-IRA rollovers are also not subject to the one-year rule.<span class="ql-inline-citation" data-cite="3"></span><br> </p> <div id="mntl-sc-block_32-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <h3 id="mntl-sc-block_33-0" class="comp mntl-sc-block finance-sc-block-subheading mntl-sc-block-subheading"> <span class="mntl-sc-block-subheading__text"> Tax Traps </span> </h3> <p id="mntl-sc-block_34-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Pay strict attention to which type of IRA or other retirement account you are transferring from—and which type you are transferring to. You can easily roll over funds from a Roth IRA or a Roth 401(k) to a new Roth IRA. The same is true if you’re rolling over monies from a traditional IRA or a standard 401(k) to a traditional IRA. Anything else has <a href="https://www.investopedia.com/articles/retirement/06/iraandtaxes.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">significant tax consequences that you need to work through carefully</a> before you do the rollover. Traditional IRAs and 401(k)s contain <a href="https://www.investopedia.com/terms/p/pretaxcontribution.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">pretax funds</a>, while contributions to Roth IRAs and 401(k)s are made with <a href="https://www.investopedia.com/terms/a/aftertaxcontribution.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="3">after-tax monies</a>.<span class="ql-inline-citation" data-cite="7"></span><span class="ql-inline-citation" data-cite="6"></span> </p> <div id="mntl-sc-block_35-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_36-0" class="comp mntl-sc-block finance-sc-block-callout mntl-block"><div id="mntl-sc-block_37-0" class="comp mntl-sc-block mntl-sc-block-callout mntl-block theme-note" data-tracking-id="mntl-sc-block-callout" data-tracking-container="true"><h3 id="mntl-sc-block-callout-heading_3-0" class="comp mntl-sc-block-callout-heading mntl-text-block no-title"></h3> <div id="mntl-sc-block-callout-body_3-0" class="comp mntl-sc-block-callout-body mntl-text-block"><p>Unlike 401(k) plans, IRAs <a href="https://www.investopedia.com/ask/answers/102714/what-are-some-examples-most-common-types-investments-ira.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">allow you to invest</a> in a wide array of assets such as <a href="https://www.investopedia.com/terms/s/stock.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">stocks</a>, <a href="https://www.investopedia.com/terms/b/bond.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="3">bonds</a>, <a href="https://www.investopedia.com/terms/e/etf.asp" class="pseudoStyle" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="4">exchange-traded funds (ETFs)</a>, and <a href="https://www.investopedia.com/terms/m/mutualfund.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="5">mutual funds</a>.</p></div></div></div> <div id="mntl-sc-block_38-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-what-is-a-direct-rollover"></span> <h2 class="mntl-sc-block-questionandanswer__question">What is a direct rollover?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>A direct rollover is when a distribution from a retirement account is not paid directly to you. Instead, the financial institution or plan sponsor holding your existing retirement funds <a href="https://www.investopedia.com/transfer-ira-money-to-an-hsa-4770819" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">makes the transfer directly</a> to your new individual retirement account (IRA). A direct transfer is the easiest way to avoid taxes and early withdrawal penalties.</p></div> </div> <div id="mntl-sc-block_39-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_40-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-what-is-an-indirect-rollover"></span> <h2 class="mntl-sc-block-questionandanswer__question">What is an indirect rollover?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>An indirect rollover is a transfer of money from a tax-deferred plan or account to another tax-deferred retirement account, such as an IRA, in which the funds are paid to you directly.</p><p>You must redeposit the full distribution amount into another qualified retirement account within 60 days to avoid taxes and penalties.</p></div> </div> <div id="mntl-sc-block_41-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_42-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-can-i-take-a-loan-from-my-ira"></span> <h2 class="mntl-sc-block-questionandanswer__question">Can I take a loan from my IRA?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>While IRAs don’t allow for loans like many 401(k) plans do, you can borrow from your IRA without taxes and penalties by applying the 60-day rollover rule. It allows you to withdraw assets from your IRA if you repay the full amount within 60 days, which essentially amounts to an interest-free, short-term loan.<span class="ql-inline-citation" data-cite="4"></span><span class="ql-inline-citation" data-cite="8"></span></p></div> </div></div> <div id="textnote-placeholder_1-0" class="comp textnote-placeholder mntl-block"></div> <div id="textnote_1-0" class="comp textnote mm-ads-gpt-adunit gpt textnote "> <div id="textnote" class="wrapper" ></div> </div></div> </div><div class="loc article-post-content"><div id="article-sources_1-0" class="comp article-sources mntl-article-sources mntl-expandable-block" data-scroll-offset="100"><div class="loc toggle-content"><div id="mntl-article-sources__wrapper_1-0" class="comp mntl-article-sources__wrapper mntl-block article-sources__wrapper" data-click-tracked="true"><div id="mntl-article-sources__heading_1-0" class="comp mntl-article-sources__heading mntl-text-block article-sources__heading">Article Sources</div> <div id="mntl-article-sources__icon-wrapper_1-0" class="comp mntl-article-sources__icon-wrapper mntl-block article-sources__icon-wrapper"><div id="article-sources__show-icon_1-0" class="comp article-sources__show-icon mntl-block"></div> <div id="article-sources__hide-icon_1-0" class="comp article-sources__hide-icon mntl-block"></div></div></div> </div><div class="loc expandable-content"> <div id="article-sources__disclaimer_1-0" class="comp article-sources__disclaimer mntl-block">Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our <a href="https://www.investopedia.com/legal-4768893#EditorialPolicy" rel="nocaes" id="article-sources__disclaimer-text-link_1-0" class="article-sources__disclaimer-text-link mntl-text-link " data-tracking-container="true" ><span class="link__wrapper">editorial policy.</span></a></div> <div id="mntl-article-sources__citation-sources-1_1-0" class="comp mntl-article-sources__citation-sources-1 mntl-citation-sources mntl-sources" data-tracking-container="true"> <ol class="mntl-sources__content"> <li class="mntl-sources__source" id="citation-3"><p>Internal Revenue Service. “<a href="https://www.irs.gov/retirement-plans/plan-participant-employee/rollovers-of-retirement-plan-and-ira-distributions" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Rollovers of Retirement Plan and IRA Distributions</a>.”</p></li> <li class="mntl-sources__source" id="citation-4"><p>Internal Revenue Service. "<a href="https://www.irs.gov/taxtopics/tc413" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Topic No. 413, Rollovers from Retirement Plans</a>."</p></li> <li class="mntl-sources__source" id="citation-5"><p>Internal Revenue Service. "<a href="https://www.irs.gov/pub/irs-pdf/p590b.pdf" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs)</a>." Page 31.</p></li> <li class="mntl-sources__source" id="citation-7"><p>Internal Revenue Service. "<a href="https://www.irs.gov/retirement-plans/rollovers-of-after-tax-contributions-in-retirement-plans" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Rollovers of After-Tax Contributions in Retirement Plans</a>."</p></li> <li class="mntl-sources__source" id="citation-6"><p>Internal Revenue Service. "<a href="https://www.irs.gov/pub/irs-tege/rollover_chart.pdf" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Rollover Chart</a>."</p></li> <li class="mntl-sources__source" id="citation-8"><p>Internal Revenue Service. "<a href="https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-loans" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Retirement Topics - Plan Loans</a>."</p></li> </ol> </div> </div></div> <div id="performance-marketing_1-0" class="comp performance-marketing mntl-block "><div id="gam-ad-table_1-0" class="comp gam-ad-table ad-table mntl-block"><div id="brokertable--v2_1-0" class="comp brokertable--v2 brokertable finance-ad-table mm-ads-ad-table mntl-block ad-table--v2" data-ad-table="brokertable2-"><div id="mm-ads-ad-table__heading_1-0" class="comp mm-ads-ad-table__heading mntl-text-block">Compare Accounts</div> <div id="mm-ads-ad-table__disclosure_1-0" class="comp mm-ads-ad-table__disclosure mntl-block" data-tracking-container="true"><button id="mm-ads-ad-table__disclosure-label_1-0" class="comp mm-ads-ad-table__disclosure-label mntl-button"> Advertiser Disclosure </button> <div id="mm-ads-ad-table__disclosure-description_1-0" class="comp mm-ads-ad-table__disclosure-description mntl-block"><div id="mm-ads-ad-table__disclosure-close_1-0" class="comp mm-ads-ad-table__disclosure-close mntl-text-block">×</div> <div id="mm-ads-ad-table__disclosure-content_1-0" class="comp mm-ads-ad-table__disclosure-content mntl-text-block">The offers that appear in this table are from partnerships from which Investopedia receives compensation. 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data-targeting="{}"></div> </div></div></div> <div id="mntl-block_5-0" class="comp mntl-block"><div id="fin-billboard4-sticky-dynamic_1-0" class="comp fin-billboard4-sticky-dynamic mm-ads-sc-sticky-square scads-to-load right-rail__item" data-height="600" style="height: 600px;"><div id="mm-ads-sc-sticky-square-ad_4-0" class="comp mm-ads-sc-sticky-square-ad billboard4-dynamic mm-ads-dynamic-square mm-ads-gpt-dynamic-adunit mm-ads-gpt-adunit mm-ads-square gpt square dynamic"> <div id="square-fixed" class="wrapper" data-type="square" data-pos="btf3" data-priority="6" data-sizes="[[300, 250],"fluid"]" data-rtb="true" data-wait-for-third-party="false" data-targeting="{}"></div> </div></div></div> <div id="mntl-block_6-0" class="comp mntl-block"><div id="fin-billboard5-sticky-dynamic_1-0" class="comp fin-billboard5-sticky-dynamic mm-ads-sc-sticky-square scads-to-load right-rail__item" data-height="600" style="height: 600px;"><div id="mm-ads-sc-sticky-square-ad_5-0" class="comp mm-ads-sc-sticky-square-ad billboard5-dynamic mm-ads-dynamic-square mm-ads-gpt-dynamic-adunit mm-ads-gpt-adunit mm-ads-square gpt square dynamic"> <div id="square-fixed" class="wrapper" data-type="square" data-pos="btf4" data-priority="7" data-sizes="[[300, 250],"fluid"]" data-rtb="true" data-wait-for-third-party="false" data-targeting="{}"></div> </div></div></div> <div id="mntl-block_7-0" class="comp mntl-block"><div id="fin-billboard6-sticky-dynamic_1-0" class="comp fin-billboard6-sticky-dynamic mm-ads-sc-sticky-square scads-to-load right-rail__item" data-height="600" style="height: 600px;"><div id="mm-ads-sc-sticky-square-ad_6-0" class="comp mm-ads-sc-sticky-square-ad billboard6-dynamic mm-ads-dynamic-square mm-ads-gpt-dynamic-adunit mm-ads-gpt-adunit mm-ads-square gpt square dynamic"> <div id="square-fixed" class="wrapper" data-type="square" data-pos="btf5" data-priority="8" data-sizes="[[300, 250],"fluid"]" data-rtb="true" data-wait-for-third-party="false" 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