YOU ASK:
What is the definition of Rollover?
WE ANSWER:
A Rollover can mean a lot of things: it can mean transferring the funds from one retirement plan into another (particularly an individual retirement arrangement) or reinvesting the funds obtained because a security has matured into the same security or one that is similar.
When the individual rolls over his retirement fund to another similar fund, there are no tax consequences for his move. The individual may only do a rollover once per annum for every retirement fund he has. The transfer should be completed and the funds deposited to the "new" account within two months after the individual receives the assets from the "old" account.
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