Direct Rollovers
Indirect Rollovers

Direct Rollovers

This is when your prior employer’s retirement plan trustee or IRA custodian rolls any portion of your retirement plan distribution directly to the NADART plan. The check for this type of rollover is made out directly to NADART, not to you.

You must provide the following:

• An accounting of the taxable and after-tax amounts within the benefit distribution - The prior plan coordinator’s or IRA custodian’s benefit calculation report (either part of the check or accompanying the payment) may suffice. For IRA accounts that had an after-tax basis, NADART may require a copy of the individual`s IRS Form 8606 for his or her most recent tax filing. Only monies distributed from an IRA that would be includible in gross income can be accepted as a rollover.

• A letter from a representative of the prior plan – This letter is not required if the rollover is from another NADART plan or an IRA. This letter must state the type from which the rollover is coming.

• A completed IRA Rollover Verification Form or a completed Qualified Plan Rollover Verification Form, as appropriate.

Instruct the plan’s trustee to make the check payable to NADART, not to you. Then, forward all the documentation plus the check to:

NADART Plan Accounting
P.O. Box 9200
McLean, VA 22102-0200

Indirect Rollovers

This occurs when your prior employer’s retirement plan trustee or IRA administrator makes out the check for your retirement plan distribution directly to you. You then roll over all or part of it to the NADART plan within 60 days. Only the taxable portion of the distribution may be included in an Indirect Rollover.

You must provide the following:

Proof that the distribution was made within the past 60 days – The date of the benefit payment check is normally sufficient to prove that the rollover will occur within the 60-day time limit.

• An accounting of the taxable and after-tax amounts within the benefit distribution - The prior plan coordinator’s or IRA custodian’s benefit calculation report (either part of the check or accompanying the payment) may suffice. For IRA accounts that had an after-tax basis, NADART may require a copy of the individual`s IRS Form 8606 for his or her most recent tax filing. Only monies distributed from an IRA that would be includible in gross income can be accepted as a rollover.

• A completed IRA Rollover Verification Form or a completed Qualified Plan Rollover Verification Form, as appropriate.

• If the rollover is coming from a 403B or governmental 457 plan, the participant must provide a letter. (Governmental 457 plan distributions may or may not be eligible for rollover, Please contact your tax advisor before initiating the rollover.) – The letter must include the following language:
  
  The funds to be rolled over were distributed to me from a (type of plan) . I did not receive these funds as a non-spousal beneficiary of a death benefit or as part of a series of periodic payments. I received these funds no more than 60 days before the date submitted as a rollover contribution. The entire amount must be included in my gross income if not rolled over. If over 70.5 years of age, these funds do not include any minimum required distribution. I understand that if these funds are determined to be ineligible for rollover at a later date, they will be removed from the plan immediately and returned to me.

Forward all the documentation plus the check to:

NADART Plan Accounting
P.O. Box 9200
McLean, VA 22102-0200