Because Roth funds are taxed differently than Pre-Tax funds, we need a little more information when posting those funds to your account. If you are rolling Roth funds into your current Plan you will need to complete page 3 of the Direct Rollover form. Please note, only Roth Funds from a qualified Plan can be rolled over and Roth IRA rollovers are not allowed.
To Complete the Form:
From: Enter the name of the qualified Plan you are rolling the Plan from.
To: Enter the name of your Plan with Jocelyn Pension Consulting.
Re: Enter your name
Total Amount of Distribution: Enter the amount of ROTH funds you are rolling over. Do not include any Pre-tax funds in this amount as those are captured on page 2 of the Direct Rollover Form.
Select box 1. unless your funds are considered a qualified distribution (more details on this below). Note: both of these items will need to be completed. Your prior Plan Administrator or the Financial Institution where your funds are currently being held should be able to provide you with this information. In some cases, this information can be found on a prior pay stub or account statement:
(a) The date of the Participant's initial participant in Roth deferral: This is the date you first made Roth Contributions.
(b) The portion of the Distribution shown above attributable to the Participant's Roth deferral Contributions: This is the amount of Contributions that you made to your Roth account. For example, if your deferral was $100 per paycheck and you made 8 deferrals, your contribution amount would be $800. This information is needed as these contributions have already been taxed, and they need to be separated from any gains that have not yet been taxed.
Select box 2. if your rollover funds are considered a qualified distribution. To be considered a qualified distribution:
(a) You must have satisfied the five-year non-exclusion period prior to the distribution,
(b) The distribution was made after you attained the age of 59 1/2, upon disability, or as part of a beneficiary distribution.
If you have any questions regarding completing this form, give us a call at 866-840-6441 and we would be happy to assist you.