Business and Personal Finance Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
- INDIVIDUAL RETIREMENT ACCOUNT (ROLLOVER IRA)
A tax-free reinvestment of a lump-sum distribution from a qualified retirement plan into an IRA or other qualified plan within 60 days in order to avoid a penalty for early withdrawal. Withdrawals are subject to income tax, and if made prior to age 59 ½, may be subject to a 10% IRS penalty.Back