Rollovers as Business Startups- (ROBS)
(Before IRS guidance was issued, a ROBS – or R.O.B.S. was referred to on the ‘street’ as an ERSOP) Definition Use of retirement assets to
Rollovers
Distribution amounts that are re-contributed to an IRA or other retirement account.
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Reconversion
Definition A conversion of an amount that was previously converted and subsequently recharacterized. An IRA owner who converts an amount to a Roth IRA during
Recharacterization
Definition A recharacterization can be either of the following: Changing a regular IRA contribution from (a) a Roth IRA contribution to a Traditional IRA contribution
IRA
Direct rollover
1: A two part transaction, where Part-1 is a distribution and Part 2 is a rollover contribution, where the distribution and rollover occurs directly between
