@Opus 17 wrote:
@macuser_22
How can it be a direct rollover if the taxpayer has a physical check in hand?
The check is made out to the retirement account custodian, not the poster. Many, if not most, direct code G rollover are done this way. The 401(K) does not do an electronic transfer to the rollover account, then issue a check made lout to that account.
@dmertz can you comment on this. You have said the same thing in the past.
You have 60 days to rollover after *you receive the distribution* (per IRS rules), if the check is not made out to you then *you* di not receive it - you are just being the delivery service. You do not have constructive receipt of money that you cannot access.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
