what is an indirect rollover 
an indirect rollover is a transfer of money from a tax deferred plan or account to another tax deferred retirement account such as an ira in which the funds are paid to you directly you must redeposit the full distribution amount into another qualified retirement account within 60 days to avoid taxes and penalties can i take a loan from my ira while iras don t allow for loans like many 401 k plans do you can borrow from your ira without taxes and penalties by applying the 60 day rollover rule it allows you to withdraw assets from your ira if you repay the full amount within 60 days which essentially amounts to an interest free short term loan 