Employee Benefits Blog

Posts tagged Qualified plan distributions

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IRS Eases Procedure for Late Qualified Plan and IRA Rollovers

Taxpayers who wish to transfer balances between IRAs and/or qualified retirement plan accounts can accomplish this on a tax-free basis either by making a direct trustee-to-trustee transfer between accounts or by making a qualifying rollover within 60 days. The Internal Revenue Service (IRS) has recently issued guidance that will make it easier, in many circumstances, for account holders to avoid a taxable distribution if they miss the 60 day deadline.