IAQualifiedPlanDirectRolloverAuthorization Pub Form

Instructions and help about IAQualifiedPlanDirectRolloverAuthorization pub

[Music] hi it's the tax geek with another episode of ira 101 which is an oversimplified view of individual retirement arrangements to check out the other episodes there is a link to a playlist above or in the video description below today's ira 101 is about rollovers what is a rollover a rollover is a transfer of funds from one tax advantaged account to another it can be from a 401k plan to an ira one ira to another or a 401k to another 401k if rollovers are done correctly there should be neither income tax nor any penalty due on the funds transferred even though these rollovers do not result in additional taxable income they must still be reported on your tax return with the full amount of the rollover on line 4a and a taxable amount of 0 on line 4b notice the word rollover next to line 4. rollovers come in two types direct or indirect let's look at direct rollovers first since they are the more straightforward in a direct rollover the funds are transferred directly from one plan to a