There is no longer any real difference between a "rollover" IRA and a traditional IRA that is not labeled as a "rollover" IRA; it's been many years since there was any such difference. Rollover IRAs were used to show that the money originally came to the IRA from an employer's qualified retirement plan like a 401(k) and was eligible to be rolled back into an employer's qualified retirement plan, but there is no longer any real restriction that funds eligible for rollover to an employer's qualified retirement account can only come from such a specially designated IRA. However, employer plans can still impose their own restrictions on what rollovers they will accept, so if you are opening a new traditional IRA to receive this rollover it probably makes sense to open it as a "rollover" IRA in case you ever want to do a rollover to an employer's plan that has antiquated restrictions.
Rollover contributions are not subject to the annual limits for new regular IRA contributions. The amount permitted to be rolled over by the deadline is limited only by the gross amount of the distribution (box 1 of the Form 1099-R).
