Frequently Asked Questions

  • Home
  • FAQs
  • What is the difference between a 60-day rollover and a direct rollover?

Personal Online Banking

You can take a distribution and have the proceeds paid directly to you. Within 60 days, you are able to put that distribution back into an IRA and not be subject to tax. Remember, if you have a distribution payable to you, the retirement plan is required to withhold 20% for federal taxes. You can put the 20% withholding in the IRA within the 60-day window, but you will have to come up with that amount out of your own pocket.

Personal Mobile Banking

You can take a distribution and have the proceeds paid directly to you. Within 60 days, you are able to put that distribution back into an IRA and not be subject to tax. Remember, if you have a distribution payable to you, the retirement plan is required to withhold 20% for federal taxes. You can put the 20% withholding in the IRA within the 60-day window, but you will have to come up with that amount out of your own pocket.

Card Manager

You can take a distribution and have the proceeds paid directly to you. Within 60 days, you are able to put that distribution back into an IRA and not be subject to tax. Remember, if you have a distribution payable to you, the retirement plan is required to withhold 20% for federal taxes. You can put the 20% withholding in the IRA within the 60-day window, but you will have to come up with that amount out of your own pocket.

Zelle

You can take a distribution and have the proceeds paid directly to you. Within 60 days, you are able to put that distribution back into an IRA and not be subject to tax. Remember, if you have a distribution payable to you, the retirement plan is required to withhold 20% for federal taxes. You can put the 20% withholding in the IRA within the 60-day window, but you will have to come up with that amount out of your own pocket.

Personal Finance Manager

You can take a distribution and have the proceeds paid directly to you. Within 60 days, you are able to put that distribution back into an IRA and not be subject to tax. Remember, if you have a distribution payable to you, the retirement plan is required to withhold 20% for federal taxes. You can put the 20% withholding in the IRA within the 60-day window, but you will have to come up with that amount out of your own pocket.


Business Online Banking

You can take a distribution and have the proceeds paid directly to you. Within 60 days, you are able to put that distribution back into an IRA and not be subject to tax. Remember, if you have a distribution payable to you, the retirement plan is required to withhold 20% for federal taxes. You can put the 20% withholding in the IRA within the 60-day window, but you will have to come up with that amount out of your own pocket.


Business Mobile Banking

You can take a distribution and have the proceeds paid directly to you. Within 60 days, you are able to put that distribution back into an IRA and not be subject to tax. Remember, if you have a distribution payable to you, the retirement plan is required to withhold 20% for federal taxes. You can put the 20% withholding in the IRA within the 60-day window, but you will have to come up with that amount out of your own pocket.


Business Leasing

You can take a distribution and have the proceeds paid directly to you. Within 60 days, you are able to put that distribution back into an IRA and not be subject to tax. Remember, if you have a distribution payable to you, the retirement plan is required to withhold 20% for federal taxes. You can put the 20% withholding in the IRA within the 60-day window, but you will have to come up with that amount out of your own pocket.


Business Online Bill Pay

You can take a distribution and have the proceeds paid directly to you. Within 60 days, you are able to put that distribution back into an IRA and not be subject to tax. Remember, if you have a distribution payable to you, the retirement plan is required to withhold 20% for federal taxes. You can put the 20% withholding in the IRA within the 60-day window, but you will have to come up with that amount out of your own pocket.


Account Alerts

You can take a distribution and have the proceeds paid directly to you. Within 60 days, you are able to put that distribution back into an IRA and not be subject to tax. Remember, if you have a distribution payable to you, the retirement plan is required to withhold 20% for federal taxes. You can put the 20% withholding in the IRA within the 60-day window, but you will have to come up with that amount out of your own pocket.


eDocuments

You can take a distribution and have the proceeds paid directly to you. Within 60 days, you are able to put that distribution back into an IRA and not be subject to tax. Remember, if you have a distribution payable to you, the retirement plan is required to withhold 20% for federal taxes. You can put the 20% withholding in the IRA within the 60-day window, but you will have to come up with that amount out of your own pocket.


uChoose Rewards

You can take a distribution and have the proceeds paid directly to you. Within 60 days, you are able to put that distribution back into an IRA and not be subject to tax. Remember, if you have a distribution payable to you, the retirement plan is required to withhold 20% for federal taxes. You can put the 20% withholding in the IRA within the 60-day window, but you will have to come up with that amount out of your own pocket.