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WellsTrade IRA/ESA Rollover Certification
If you have answered "NO" to any applicable questions above, then you should not proceed with this rollover
transaction. There are likely reasons that your contribution is not qualified to be rolled over into an IRA.
Please consult your professional tax advisor prior to completing your rollover.
Agreement
I have read and understand the rollover rules and conditions on both sides of this form and I have met the requirements
for making a rollover contribution. Due to the important tax consequences of rolling over funds or property to an IRA or
ESA, I understand that I should seek guidance from a professional tax advisor. I understand that Wells Fargo Bank cannot
and has not provided tax advice. I release, indemnify and hold Wells Fargo Bank harmless against any liabilities I may
incur as a result of this transaction. By signing this agreement, I understand that I have irrevocably designated this
contribution as a rollover contribution.
Timeliness
The funds/assets you receive from the distributing Retirement Plan must be deposited into an eligible IRA or ESA within 60
calendar days from the day you receive them. There are no exceptions to the 60 day rule.
Frequency of Rollovers
Twelve month restriction - certain IRA plans limit rollover transactions to one rollover distribution per year per IRA
(Traditional IRAs, Roth IRAs and Education Savings Accounts). Twelve (12) months must pass after receipt of one rollover
distribution from an IRA plan before any additional distribution from that same plan is eligible for rollover. The focus is on
rollover distributions out of an IRA plan.
Eligible Persons
Education Savings Account - a distribution from an ESA may be rolled over to another ESA for the benefit of the same child
designee or a family member designee. Family member is defined as a son or daughter, or a descendant of either; a
step-child; a sibling or step-brother or step-sister; the mother or father, or an ancestor of either; a step-father or step-mother,
a son or daughter of a brother or sister; a brother or sister of the father or mother; a son-in-law, daughter-in-law,
father-in-law, mother-in-law, brother-in-law, or sister-in-law, or the spouse of any of these family members.
Qualified Retirement Plans - an eligible person is defined as the plan participant, the surviving spouse beneficiary of a
deceased participant, or the alternate payee identified in a Qualified Domestic Relations Order (QDRO).
Eligible Plans
Rollover contributions may only be made to eligible plans. Distributions from a certain plan (Traditional, Roth, Education and
Qualified Retirement Plan) may be rolled over to a like plan. In addition, distributions from Traditional IRAs may be rolled
over to a Roth IRA or to a Qualified Retirement Plan and distributions from a Qualified Retirement Plan may be rolled over to
a Traditional IRA.
Distributions from a qualified plan are eligible for roll over only when the distribution is made from an eligible plan. An eligible
plan is one that is qualified under IRC Section 401 (a), 403 or 457. Eligible plans include defined benefit plans, profit sharing
plans, money purchase plans, 401(k) plans, tax sheltered annuities, certain governmental plans and employee stock
ownership plans.
Eligible Deposits
Qualified plan distributions - if property other than cash is distributed, only the same property or the proceeds from the sale
may be rolled over. Also, if employee non-deductible contributions are rolled over to your traditional IRA to such amounts
may not be rolled.
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