I have an Indirect/60-Day Rollover: What should I do?

Indirect Rollovers, aka "60-Day Rollovers," need to be handled with care and close attention to detail. iTrustCapital, Inc. does not provide legal, investment, or tax advice. We recommend you consult a qualified legal, investment, or tax professional regarding your options. Here you can find some information from the IRS regarding 60-Day Rollovers.

Things to keep in mind:

1. Indirect Rollovers are usually the result of distributions from qualified employer plans or IRAs. The funds need to be put back into a retirement account within 60 days or may be taxed as a distribution. 

2. Once the client obtains the funds from their previous custodian, they are normally wired to us directly from their bank accounts since they took a distribution.

3. Clients can only do one Indirect Rollover in any given 12-month period, so please discuss this with your tax/financial professional as iTrustCapital does not provide financial/tax advice.

4. Inherited accounts generally cannot do 60-Day Rollovers.

5. If you are planning to proceed with a 60-Day Rollover, please give us a direct call here or submit a request here, detailing your intention to initiate a 60-day rollover. Please do not proceed with the 60-Day Rollover until you have heard back from a member of our team.

   1. There is an option to indicate a 60-Day Rollover when you first create an iTrustCapital application, but if you already have an account, you will not be able to add a 60-Day Rollover from your dashboard. Please email/call us to let us know your rollover is a "60-Day" and needs special attention.