A tax-free reinvestment of a distribution from a qualified retirement plan into an IRA or other qualified plan within a specific time frame, generally 60 days. These transfers can happen when leaving a job at an employer who offered a retirement plan such as a 401(k). The firm can issue a check for the amount minus 20% in withheld taxes. To avoid this penalty, the IRA rollover must be done trustee to trustee, meaning that the check is made out to the new trustee or custodian of the IRA rollover.