▁to ▁the ▁dis b urs ing ▁institution ▁for ▁a ▁transfer ▁and ▁a ▁check ▁( made ▁pay able ▁to ▁the ▁other ▁institution ) ▁is ▁sent ▁in ▁return . ▁This ▁transaction ▁is ▁not ▁reported ▁to ▁the ▁I RS . ▁Trans fers ▁are ▁allowed ▁to ▁and ▁from ▁traditional ▁IR As ▁or ▁from ▁employ er ▁plans . ▁ ▁A ▁rol lo ver ▁( s ometimes ▁referred ▁to ▁as ▁a ▁ 6 0 - day ▁rol lo ver ) ▁can ▁also ▁be ▁used ▁to ▁move ▁I RA ▁money ▁between ▁institutions . ▁A ▁distribution ▁is ▁made ▁from ▁the ▁institution ▁dis b urs ing ▁the ▁funds . ▁A ▁check ▁would ▁be ▁made ▁pay able ▁directly ▁to ▁the ▁particip ant . ▁The ▁particip ant ▁would ▁then ▁have ▁to ▁make ▁a ▁rol lo ver ▁contribution ▁to ▁the ▁receiving ▁financial ▁institution ▁within ▁ 6 0 ▁days ▁in ▁order ▁for ▁the ▁funds ▁to ▁retain ▁their ▁I RA ▁status . ▁This ▁type ▁of ▁transaction ▁can ▁only ▁be ▁done ▁once ▁every ▁ 1 2 ▁months ▁with ▁the ▁same ▁funds . ▁Con tr ary ▁to ▁a ▁transfer , ▁a ▁rol lo ver ▁is ▁reported ▁to ▁the ▁I RS . ▁The ▁particip ant ▁who ▁received ▁the ▁distribution ▁will ▁have ▁that ▁distribution ▁reported ▁to ▁the ▁I RS . ▁Once ▁the ▁distribution ▁is ▁rolled ▁into ▁an ▁I RA , ▁the ▁particip ant ▁will ▁be ▁sent ▁a ▁Form ▁ 5 4 9 8 ▁to ▁report ▁on ▁their ▁tax es ▁to ▁null ify ▁any ▁tax ▁consequence ▁of ▁the ▁initial ▁distribution . ▁ ▁" B orrow ing ▁M oney " ▁from ▁an ▁I