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What's a rollover contribution?
What's a rollover contribution?

A rollover is a tax-free distribution of funds from a qualified plan or an IRA account with another trustee/custodian that you contribute to your Webull IRA account within 60 days of receiving the payment or distribution. The contribution to the Webull IRA account is called a “Rollover contribution.” We only accept cash for rollovers. Types of rollovers to a Webull Traditional IRA or Webull Rollover IRA include Traditional IRAs, Rollover IRAs, SEP IRAs,  SIMPLE IRAs, and eligible employer-sponsored retirement plans. Only Roth IRAs can be rolled into a Webull Roth IRA. You are permitted to roll over only one distribution from an IRA (Traditional, Rollover, SEP, Roth, or SIMPLE) in a 12-month period, regardless of the number of IRAs you own. A rollover generally must be completed within 60 days of receiving the assets. A rollover contribution of Roth IRA assets may not be made to a Traditional IRA, SIMPLE IRA, Coverdell ESA, or Qualified Retirement Plan. Rollovers must be reported to the IRS on Form 5498. 

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