indirect....where you get check in own name from current custodian, endorse and send to PenFed. Have done it many times w/o a problem. Recently did this again and got urgent e-mail message from PenFed to contact them ASAP.
They want proof from current custodian this these are really IRA rollover funds.....basically the custodian's name, check amount, date of withdrawal
(all of which should be on the check) and also source of funds...i.e. type of account.
I haven't kept a copy of the checks from the past (just the stubs) so I don't know if anything has changed there or if PenFed has just morphed into being the IRA cop , instead of letting the IRS check the 5498s.
Just wondering if anyone has had the same experiece. I do the indirect way since it supposedly is faster/simpler and it avoids a $30 type fee from custodian.
They want proof from current custodian this these are really IRA rollover funds.....basically the custodian's name, check amount, date of withdrawal
(all of which should be on the check) and also source of funds...i.e. type of account.
I haven't kept a copy of the checks from the past (just the stubs) so I don't know if anything has changed there or if PenFed has just morphed into being the IRA cop , instead of letting the IRS check the 5498s.
Just wondering if anyone has had the same experiece. I do the indirect way since it supposedly is faster/simpler and it avoids a $30 type fee from custodian.