Form questions explanations

1.    Timeliness

The funds you receive from the distributing IRA must generally be deposited into the employer plan within 60 days after you receive them. However, this period is 120 days for certain rollovers relating to first-home purchases. When counting the 60 (or 120) days include weekends and holidays. The IRS has the authority to grant extensions to the 60 (or 120) day rule in cases where a hardship occurs (e.g., casualty, disaster, etc.) or you may use the self-certification procedure.

Receipt generally means the day you actually have the funds in hand. For example, the 60 days would begin on the day following the day you pick up the check from the Trustee or Custodian or you receive the check in the mail.

Since more than 60 days have passed, we cannot accept the funds as a rollover into the retirement plan.

  • If the answer is that it was within 60 days (99% of the time this will be true), we will just proceed as a rollover contribution without any further review.
  • If the answer is that it was not, then we check the payee and investigate further on behalf of the client. 


2.    RMD Rollover Restriction

If this rollover is being made during or after the year for which you are required to begin receiving distributions, you cannot roll over any distribution to the extent that it is a required minimum distribution from the distributing plan.

Since this rollover is an RMD, we cannot accept the funds as a rollover into the retirement plan.

3.    Nondeductible (after-tax) Amounts

You may not roll funds that you have contributed to your IRA for which you did not receive a tax deduction (after-tax dollars).

Since this rollover contains nondeductible contributions, we cannot accept the funds as a rollover into the retirement plan.

4.    Substantially Equal Periodic Payments

If you are taking substantially equal periodic payments from your IRA, these distributions are not able to be rolled to an employer plan.

5.    SIMPLE IRA Rollover Restriction

A SIMPLE IRA may be rolled over to an eligible employer plan provided two years have passed since you first participated in your employer's SIMPLE salary reduction arrangement.

Since two years have not passed, we cannot accept the fund as a rollover into the retirement account.

  • If the account was not a SIMPLE, check NO

Please send any participants that cannot roll funds into the retirement account over to the designated RM. TTC may have services to help outside of RPS.


If the request came from an internal TTC IRA, for form is nor required to be signed by the ptp. We must receive the form with the account number and each question answered by the RM.


Reviewing the IRA to QRP Rollover Certification

This document should be received when we receive a rollover check from a Traditional IRA, an Internal Transfer Request, or a Deposit Request for a rollover from a Traditional IRA. Get with the sender of the document if we have questions after review.

Timeliness: If the answer is YES, we cannot accept the funds as a rollover.

RMD Rollover Restriction: If the answer is YES, the RMD must be satisfied before we accept the funds as a rollover.

    CSR follow up with the ptp/RM to advise and ensure the RMD is satisfied.

Nondeductible (after-tax) Amounts: If the first answer is YES and the second answer is YES, we cannot accept the funds as a rollover. If the first answer is YES and the second answer is NO, we can accept the funds as a rollover. If both answers are NO, we can accept the funds as a rollover.

Substantially Equal Periodic Payments: If the answer is YES, we cannot accept the funds as a rollover.

SIMPLE IRA Rollover Restriction: If the answer is YES, we cannot accept the funds as a rollover.