Get the free Direct Rollover Request - Local 98

DIRECT ROLLOVER REQUEST Please complete this form to have a distribution from your prior employer s plan or an IRA directly rolled over to this qualified Plan. Submit the completed form to the Plan

How to fill out direct rollover request

How to fill out a direct rollover request:

1. Gather the necessary information: Before filling out the direct rollover request, make sure you have all the required information handy. This may include your personal details, such as name and address, as well as your account information, such as account number and the name of the financial institution you're requesting the rollover from.
2. Obtain the direct rollover request form: Contact the financial institution or retirement plan administrator where you currently have the funds you want to rollover. Request the direct rollover request form, which is typically available online or can be sent to you via mail or email.
3. Complete the personal information section: Start by filling out the personal information section of the direct rollover request form. This might include your full name, address, date of birth, social security number, and other relevant details. Make sure to double-check the accuracy of the information before moving on to the next section.
4. Provide retirement account details: Next, you'll need to provide the specifics of the retirement account you're intending to rollover. This typically includes the account number, name of the financial institution or retirement plan administrator, and any other necessary identifying details. Be precise and accurate to ensure a smooth rollover process.
5. Indicate the rollover amount: Specify the exact amount you wish to rollover from your current retirement account. This can typically be entered as a dollar amount or percentage. Double-check the requested amount to ensure it matches your intentions.
6. Choose the new account or financial institution: If you already have a new retirement account established with a different financial institution, provide the necessary details in this section. This may include the account number, institution name, and any other required information. If you haven't established a new account yet, leave this section blank or follow the instructions for guidance.
7. Review and sign the form: Carefully review all the information you've provided on the direct rollover request form, ensuring accuracy and completeness. Once you are satisfied, sign the form as required. Some forms may also require a witness or beneficiary signature, so make sure to comply with any additional instructions provided.

Who needs a direct rollover request?

Individuals who have funds in a retirement account and wish to transfer or rollover those funds to another retirement account or financial institution may need to fill out a direct rollover request. This request is typically made when changing jobs or retiring and wanting to consolidate retirement accounts or take advantage of better investment options offered by a new institution. Direct rollovers are often done to avoid taxes and penalties associated with withdrawing funds from a retirement account without properly transferring them to a new account. Therefore, anyone in such a situation should consider using a direct rollover request to ensure a seamless and tax-efficient transfer of retirement funds.

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What is direct rollover request?

Direct rollover request is a request to transfer retirement funds from one qualified account to another without the funds passing through the individual's hands.

Who is required to file direct rollover request?

Individuals who are looking to transfer their retirement funds from one qualified account to another are required to file a direct rollover request.

How to fill out direct rollover request?

To fill out a direct rollover request, the individual must provide information about the sending and receiving accounts, along with any necessary authorization signatures.

What is the purpose of direct rollover request?

The purpose of a direct rollover request is to facilitate the tax-free transfer of retirement funds between qualified accounts.

What information must be reported on direct rollover request?

The direct rollover request must include details about the sending and receiving accounts, as well as any necessary authorization signatures.