10 Common Rollover Mistakes

Here are the top 10 rollover mistakes people, including professionals, tend to make:

1. Non-Spouse rollovers, these are not allowed.
   
2. Spousal rollovers, including special spousal options.
   
3. 401(k) rollovers to IRAs (the mistake here is not exploring the other options before doing the IRA rollover).
   
4. After-tax rollovers from plans to IRAs and Roth IRAs.
   
5. Roth conversions, which are technically rollovers from IRAs to Roth IRAs.
   
6. In-Plan Roth rollovers, i.e., 401(k) to Roth 401(k) conversions.
   
7. IRA to IRA rollovers, as well as Roth IRA to Roth IRA rollovers (there is an once-per-year rule).
   
8. Rollovers to any other retirement account (there is a 60-day rule).
   
9. QDRO rollovers in divorce (from plans only) to the ex-spouse as alternate payee.
   
10. Rollovers from IRAs back to plans.