A Direct Transfer of Funds from a Qualified Retirement Plan

question 7

True/False

A direct transfer of funds from a qualified retirement plan to an IRA is subject to the withholding rules.

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Definitions:

Self-Migration

Self-Migration describes the process by which individuals voluntarily move from one location to another, often for reasons such as employment, education, or personal growth.

Casual

something done without much thought or premeditation, often reflecting a relaxed or informal nature.

Formal

Relating to or involving the outward form or structure of something, often characterized by strict or established conventions or procedures.