A transfer is a non-reportable movement of assets, generally occurring between retirement accounts of the same type. For instance, from one Traditional IRA to another Traditional IRA. Assets are made payable to the receiving financial institution or plan for the benefit of the participant. The term trustee-to-trustee transfer is also used to refer to a ‘transfer’, and is sometimes used to refer to a direct rollover or a direct Roth conversion, to indicate that the assets are exchanged directly between custodians/trustees.