A trustee-to-trustee transfer moves retirement money directly between financial institutions without sending the funds to you first. This can simplify moving IRA assets, keeping the money within the retirement system. It also generally avoids the 60-day deadline and once-per-year restriction that can apply to certain IRA rollovers.
A financial advisor can help you plan out how to save, move and withdraw your retirement savings.
How a Trustee-to-Trustee Transfer Works
A trustee-to-trustee transfer generally occurs when assets move directly from one IRA trustee or custodian to another. You initiate the transfer, typically by providing information…
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