Updated Wednesday, September 17, 2014 as of 5:38 AM ET

Ask Ed Slott: Explaining Direct Rollovers

I retired and asked to do a direct rollover from my former employer's 401(k) plan to my IRA. The check was mailed to my house but made payable to my IRA custodian. I just realized I didn't deposit that check right away. It's now past 60 days since I received it. Can I deposit that check now or is it too late?

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Comments (2)
I was not just as lucky as you were. I was not a direct rollover and could not deposit a check after 60 days passed. So I actually had to turn to financial consultants to find out what to do. Unfortunately I was so short on cash that I had to get payday loans online no faxing. It is a short-term service that allow borrowing small amounts. I had to pay the interest rate, but still I was lucky to get money in a very fast and convenient way! Good job, Ed! As always!
Posted by Alicia S | Tuesday, February 12 2013 at 7:31AM ET
Thank you for sharing this content its great one to read got an great idea of Direct Rollover..keep updating such contents ,have a nice day.
Posted by jane g | Wednesday, May 15 2013 at 3:18AM ET
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