Tax sheltered retirement accounts are a critical financial asset -- all the more reason to take great care when moving IRA and 401(k) money around at certain key junctures. Botched rollovers, missed deadlines, poor estate planning and overlooked distributions can cause problems that prove difficult or impossible to reverse. And the penalties associated with these missteps can be substantial -- in some cases they may completely undermine the benefit of a tax-sheltered account. The average citizen doesn't have the time or patience to navigate arcane IRS rules, so investors would be wise to seek professional advice whenever significant questions arise.
This MarketWatch article is a good starting point...
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