Final answer:
The time limit an individual has to "rollover" funds from an IRA or qualified plan is 60 days.
Step-by-step explanation:
The time limit an individual has to "rollover" funds from an IRA or qualified plan is 60 days.
When an individual wants to transfer funds from one retirement account to another, such as from an IRA to another IRA or from a qualified plan to an IRA, they have 60 days to complete the rollover. This means that the funds must be deposited into the new account within 60 days of being withdrawn from the original account. If the rollover is not completed within this time frame, the funds will be considered a taxable distribution.