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Interactive Checklist

The 11-Step IRA Rollover Checklist

By Henny Willis. Reviewed November 5, 2026. Educational rollover checklist; confirm plan-specific rules before moving money.

Use this working checklist before moving an old 401(k), 403(b), TSP, or IRA. It keeps the process organized so you can avoid the common rollover mistakes that create withholding, tax forms, missed deadlines, or idle cash.

Direct rollover first Pre-tax and Roth separated Tax records saved
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Check off each step as you finish it.

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Why This Checklist Prioritizes Direct Rollovers

The cleanest rollover is usually a direct rollover. That means the old plan sends funds directly to the receiving IRA or eligible plan, instead of paying the distribution to you personally.

If the plan pays an eligible rollover distribution to you, the IRS says you generally have 60 days to roll it over, and taxes will be withheld from a retirement plan distribution. That means you may need other funds to roll over the full amount.

Item Direct Rollover Indirect Rollover
Money paid to you? No, it goes to the new custodian or plan. Yes, then you must redeposit on time.
20% withholding risk Generally avoided when handled correctly. Generally applies to eligible plan distributions paid to you.
Best for beginners Usually yes. Usually only if necessary and carefully tracked.

Tax Forms to Save

After a rollover, do not throw away the paperwork. The distributing plan may issue Form 1099-R. The receiving IRA trustee may issue Form 5498 reporting rollover contributions. IRS Form 1099-R instructions also distinguish Code G for certain direct rollovers and Code H for direct rollovers from a designated Roth account to a Roth IRA.

Keep the forms with your tax records, even if the rollover was non-taxable. A non-taxable rollover can still be reported to the IRS.

Special Cases to Watch

  • Compare options first: Leaving the money in the old plan or moving it to a new employer plan may be better than an IRA. Compare fees, investments, services, withdrawal rules, and special protections.
  • Outstanding plan loan: Ask whether a plan loan offset will occur and what rollover deadline applies.
  • Employer stock: Ask a tax professional about net unrealized appreciation before rolling employer stock to an IRA.
  • Age 55 or older: If you separated from service during or after the calendar year you reached 55 and may need withdrawals before 59½, compare the employer-plan exception before moving the money to an IRA.
  • Required minimum distribution: An RMD is not eligible for rollover. Take the required amount first.
  • Roth 401(k) money: Route designated Roth balances carefully, commonly to a Roth IRA or another designated Roth account.
  • After-tax contributions: IRS guidance allows pretax and after-tax amounts to be directed to different destinations if handled correctly.
  • Small old balances: SECURE 2.0 allows plans to use a mandatory cash-out threshold up to $7,000 for distributions after December 31, 2023. Not every plan uses the higher limit.
  • IRA-to-IRA indirect rollovers: The once-per-year rule is separate from plan-to-IRA direct rollovers.
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Frequently Asked Questions

A direct rollover is usually the cleanest method because the money moves from the old plan to the receiving IRA or eligible plan instead of being paid to you personally.
The 20% withholding rule generally applies when an eligible rollover distribution from a plan is paid to you. A properly handled direct rollover generally avoids that issue.
Yes, if handled correctly. IRS guidance allows pretax amounts and after-tax amounts to be rolled to different destinations, such as a traditional IRA and Roth IRA.
Yes. Print it or save it as a PDF and keep it with your 1099-R, 5498, transfer confirmations, and rollover instructions.

Sources and Editorial Notes

401k Rollover Guide → 60-Day Rule → Direct vs Indirect →
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