Direct Rollover

• 1). Open an IRA at a custodian that meets your investment objectives. Banks, brokerage firms, insurance companies and specialized accounting firms offer custodial services. The IRS allows bank accounts, stocks, bonds, investment property and precious metal investments in IRAs.
  
  
• 2). Complete a transfer form for the new custodian, listing the information for the account relinquishing the money. Include the account number, custodian name and contact information.
  
  
• 3). Sign and submit the transfer form with a copy of the IRA statement from the company releasing the assets. It takes up to six weeks for direct rollover transfers to transpire.
  
  

Indirect Rollover

• 1). Call the IRA custodian for your existing account. Request a rollover form; the company may use a standard distribution form for the rollover release of funds.
  
  
• 2). Fill out the rollover form with your name, address and Social Security number. Write the account number carefully, making sure to not transpose numbers, to ensure expeditious processing.
  
  
• 3). Sign and submit the form to your existing IRA custodian. You should receive a check within a week. Note that the check will be less 20 percent of the value of the IRA; this amount is automatically withheld for federal taxes.
  
  
• 4). Open a rollover IRA at a custodian that meets your investment needs.
  
  
• 5). Deposit the check within 60 days of receiving it into the new rollover IRA. You must also deposit the missing 20 percent to complete the rollover. The 20 percent withheld from your rollover check will be refunded to you by the IRS at the end of the tax year.
  
  
• 6). Report the rollover on your federal taxes, Form 1040.