Rollover contributions: What plan administrators need to know

Retirement plan administrators routinely receive requests from employees to accept rollover contributions of amounts held in a prior employer’s qualified plan or, in some cases, an individual retirement account. When processing these requests, plan administrators must be mindful of Internal Revenue Service guidelines that require them to be reasonably certain that the distribution is being made from another qualified plan or plan permitted to make a rollover distribution before accepting the rollover and contributing it to the plan’s trust.

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