I just finished reading the February 2015 newsletter regarding rollovers. I understand the new rule which limits IRA rollovers to once per 365 days and the 60 day requirement. My confusion is regarding a rollover from a 401k to an IRA. My understanding of the definition of Rollover is that it is a movement of funds between 2 different types of retirement plans, like a 401k to an IRA. However, the term “rollover” is also used when an individual personally receives a distribution from his IRA. At that point the participant has 60 days, if he chooses to avoid tax, to deposit the funds back into an IRA. My question is if a 401k plan custodian makes the check payable directly to the IRA custodian F/B/O participant, no 60 day time limit correct? If that is true, would this be deemed an exception? I also realize direct transfers are the way to go, however, if you roll money out of a 401k it is deemed and coded as a rollover. It confuses me because it seems that there are multiple definitions of the term “rollover”. Although the funds coming out of a 401k are “rolled over” if made payable to the new custodian it seems that would be a direct transfer(kinda?). Any insight to help me understand the rationale would be great. Thanks.