Question
Can indirect rollover 401k check be deposited into checking account first?
My 401k check was mailed out to me and also made payable to me. I would like to do an indirect rollover to my IRA account within 60 days of the withdrawal. The check had a portion withheld and I want to make sure to put back the amount withheld.
Does the check need to be deposited straight into my investment account in order to qualify as a rollover?
The issue is that in order for me to add back the funds withheld before I complete the rollover, I would need to deposit the check into my checking account then transfer the full amount into my investment account.
