By electing a "direct" rollover, your retirement assets will transfer with no current tax consequence, allowing you to preserve the tax-favored potential and long-term benefits of your retirement dollars. If you do receive a distribution, the rollover must be completed within 60 days of the initial distribution.
Like a Traditional IRA, withdrawals taken from a Rollover IRA before age 59½ are subject to tax penalties, and distributions must begin at age 70½.
