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Greetings Fools!!

I just spoke to my previous employer's Accounting head (it is a small corporation of 100 employees so they allow to deal directly with Accouting Heads ;-)) and this is what he told me to do for the rollover of the 401(K) funds to a Self Directed IRA. I just want to confirm this with you fools and TMF Pixy in particula. Here goes:

* My previous employer will send me a distribution form which I've to fill up and both me and my wife have to sign it in front of him or get it notarised.
* My previous employer will send this signed distribution form to the 3rd party plan administrator who will then forward the CHEQUE to my previous employer.
* Then my previous employer will send me the CHEQUE.
* Then I've to deposit that cheque in the IRA account (which I would've opened before this point) in 60 days time.
* After that I can transfer this monie from that IRA account to a ROTH IRA account and declare taxes spread over 4 years on the gains.

Is this information correct?


Nikhil Bhat
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