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05-08-2024
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A trustee-to-trustee transfer of rollover funds in a qualified plan allows a participant to avoid:

A. mandatory income tax withholding on the transfer amount
B. paying transfer fees
C. paying trustee fees
D. ever paying income taxes on the distributions

Answer :

GinnyAnswer GinnyAnswer

05-08-2024

Final answer:

A trustee-to-trustee transfer in a qualified plan allows participants to avoid certain fees and taxes.

Explanation:

A trustee-to-trustee transfer of rollover funds in a qualified plan allows a participant to avoid mandatory income tax withholding on the transfer amount. It also enables the participant to bypass paying transfer and trustee fees.

Learn more about trustee-to-trustee transfer here:

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