Build a rollover checklist from the two account papers
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- List the paying account, the receiving account, whether the money is paid to the person or transferred directly, the date of receipt, and any withholding the papers show. Do not decide that the rollover is tax-free.
- What the lawyer must review
- The IRS rollover page says most pre-retirement payments can be rolled by deposit into another plan or IRA within 60 days of receipt, or by a direct transfer. A direct rollover from a retirement plan, and a trustee-to-trustee IRA transfer, have no tax withheld. A retirement-plan distribution paid to the person is subject to mandatory 20 per cent withholding. An IRA distribution paid to the person is subject to 10 per cent withholding unless the person elects out. To roll over the full amount the person must replace the withheld sum from other funds. Only one IRA-to-IRA rollover is allowed in any 12-month period, counting the person's IRAs together. That limit does not apply to a conversion, a trustee-to-trustee transfer, an IRA-to-plan rollover, a plan-to-IRA rollover, or a plan-to-plan rollover. A required minimum distribution cannot be rolled. A hardship distribution from a retirement plan cannot be rolled. The IRS may waive the 60 days in some cases. The waiver rules were not opened. You decide whether this payment can be rolled.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Consider narrowly defined preparation support after confirming the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Trace every relied-on figure to its source, confirm dates and assumptions, and independently recalculate totals or derived amounts.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.