Tag Archives: rollovers
Withdrawing money or assets from an eligible retirement plan and transferring it to another eligible plan can result in a rollover, provided the transfer happens within sixty days. The actual transaction is not taxable, however it is reported on your tax return to the IRS. Some distributions are not eligible to be rolled over. These […]
— Read moreIf you’ve received retirement payments throughout the year from your pension, annuity, or similar type of plan, you’ll receive a Form 1099-R as a report of the fund distribution. Payments from Pensions and Annuities When you set up a retirement fund with your employer, you are essentially arranging a compensation agreement. Most retirement plans don’t […]
— Read moreHaving a retirement fund set up to help offset the costs associated with life after employment, is a smart financial decision. However, situations may arise that require you to withdraw some cash from your savings plan earlier than you expected. Doing so can activate an additional tax, and cause you to have to report withdrawals […]
— Read more
