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Direct Transfers
Direct transfers are tax free exchanges of Qualified sources of funds. |
Direct transfers are very similar in nature to a Rollover or a 1035 Exchange.
By definition, a Direct Transfer refers to Qualified funds such as those found in IRA’s, and 403(b) Tax Sheltered Annuities. These are dollars that had “qualified” for some form of income tax exemption when they were earned because they were placed before tax in a special account to grow.
Direct Transfers allow consumers the ability to re allocated funds for their advantage without the consequences of current taxation on a distribution.
Again, in order for the Direct Transfer to be valid, it must follow a Like to Like protocol. |
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