Rollover
About Rollover:
Rollover is a tax-free reinvestment of a distribution from a qualified retirement plan into an IRA or other qualified plan within 60 days. 1. to replace one loan or debt with another.
2. to change the institution that invests one's pension plan, without recognition of taxable income. Former IRC (check if this IRC provision is current here) §402(a)(5).
See also individual retirement account (IRA) rollover.
Rollover Relief in the U.S. and other Developed Countries International Tax Meaning
Relief by means of which liability to capital gains tax is deferred. The essential feature of roll-over relief is that a gain which would otherwise have arisen on the occurrence of a taxable event for capital gains tax purposes is deferred, or rolled over, until there is a subsequent disposal of the asset concerned.
See also Capital Gain in the American Legal Encyclopedia and Capital Gain in the World Legal Encyclopedia.
Description and Definition of Rollover
The tax free transfer of funds from one individual retirement account to another within 60 days. You can also use a rollover to transfer funds from a company plan to an IRA.
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