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59.5 transfer to IRA


Guest bigred

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Guest bigred

Does anyone know if there are any requirement to track in-service rollovers to IRA's? It seems I remember something about this from a long time ago.

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There is a requirement to track inservice distributions (for at least five years) for Top Heavy determinations. It wouldn't matter if the distribution is rolled over. Also, under the bankruptcy rules, all IRA funds that were rolled over from qualified plans would be exempted from the bankruptcy estate (in addition to the $1 million in IRA assets).

I cannot think of anything else, off-hand, that would necessitate tracking.

Good Luck!

CPC, QPA, QKA, TGPC, ERPA

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Also depends on what you mean by "track"? As for once the money is outside the plan, EGTRRA made rollovers nearly universal so no longer need to use a conduit IRA to keep a QP rollover separate from other IRA funds.

Kurt Vonnegut: 'To be is to do'-Socrates 'To do is to be'-Jean-Paul Sartre 'Do be do be do'-Frank Sinatra

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