My client did a direct rollover from his 401(k)into an IRA with an insurance company earlier this year. Then I processed a ttee to ttee transfer into an IRA with my brokerage company. The forms for the insurance company requested to whom the check should be payable to and it is payable to the new custodian but will be mailed to the client address. I want to make sure this is a acceptable ttee to ttee transfer. In the back of my mind, I had the thought that the funds had to go directly to the new custodian.
Thank you.