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URL:  http://boards.fool.com/does-this-sound-right-this-is-technically-20085313.aspx

Subject:  Re: Transferring an IRA Date:  1/2/2004  11:33 AM
Author:  ptheland Number:  38337 of 78166

Does this sound right?

This is technically correct. Be aware, however, that the 60 days is pretty much written in stone. Until 2003, the IRS issued no (as in none, zero, nada, zilch) exceptions for any reason. They have recently issued some new guidance, such that if your third son is injured by falling debris from a Chinese space launch on the second Thursday in March, then you have a reasonable excuse for missing the 60 days. ;-) (OK - one exception they are now allowing is if the brokerage screws up and has your money but doesn't open the IRA account - but I figure the probability of the two events are fairly close.)

IMHO, its much better to have the old broker send the money directly to the new broker to accomplish this rollover. The