Hello,

I am working with a client to process a direct rollover from his 401(k) to his IRA. The client received the rollover check in early February, and I have tried multiple times to get him to mail the check to Schwab, but he has been non-responsive. I wanted to double check that he is not subject to the 60-day rollover rules since the check is made payable to the custodian FBO client. I didn’t think the rule applied since the check is not made out to him individually, but thought I’d ask the question since we’re coming up on the 60-day mark. Thanks!