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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 25275  
Subject: Re: T Rowe Price hoops Date: 7/2/2012 10:34 PM
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We have heard many times on this board that if you do not do a direct custodian to custodian transfer, the custodian is required to take withholding from your check. You then must replace the withholding portion from other sources or it gets treated as penalty distribution.

So TRowe Price is the traditional way. That you talked others into not taking withholding is great, but check your numbers carefully. I think its the law.

Fortunately most people do these conversions rarely. Once for every employer with a 401K program, and once its converted to an IRA, transfers get easier (but you still have the withholding problem when you get a check in your name).
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