Business / Taxes / Transfer: In a transfer, a 401(k) or IRA custodian or trustee moves the assets in your existing account directly to the custodian or trustee of your new account. With a transfer, you don't risk failing to deposit the full amount of your withdrawal within the 60-day deadline for rollovers. And, in the case of a transfer from a 401(k) or similar retirement savings plan, nothing is withheld for income taxes. In contrast, if you handle the rollover yourself, your employer must withhold 20% of the account value. When securities are sent to a transfer agent for reregistration of the ownership name, this process is also known as a transfer. Securities may be registered in the actual, or beneficial, owner’s name, or in the name of a nominee, known as street name. Most stocks that are held by brokerage firms for their clients are registered in nominee name on the transfer agent’s books.
Transfer Verb Synonyms: move, transport, convey, remove, carry, take, deliver, bring, transmit, cart, haul, shift, hand (on or over), turn over, give, pass (on or along or over)
Business / Taxes / Electronic Funds Transfer: Electronic funds transfer (EFT) is the means by which financial institutions exchange billions of dollars every day without the physical movement of any paper money. Money moves electronically from on MORE
Business / Finance / Transfer Agent: A change of ownership from one person or party to another. MORE