<prompt> Human: I got a check for a 401k rollover last year after I got laid off from my job. Now Ive changed my mind about rolling it over and would just like to take the money and pay down some bills. Is there anything I can do with the check to deposit into my normal checking account instead of putting it into an IRA?  <response>: Wait you have had the check for over 1 year? You only have 60 days after removing funds from a 401k to roll them over. After that you are taxed even if you deposit the amount into your new 401k. So if you took the roll over in 2015 you would of paid taxes on it with the tax return you filed recently. If not you need to refile your taxes because you missed the roll over exemption period. 