A Guide to Retirement Fund Rollovers

Qualified rollovers from one retirement account to another are not taxable and should not be counted as untaxed income on the 2017-18 Free Application for Federal Student Aid (FAFSA).

Neither the IRS Data Retrieval Tool nor a tax return transcript identifies rollovers, which can cause a rollover to erroneously be considered as untaxed income on the FAFSA. Additional documentation must be submitted to the Office of Financial Aid to administratively remove rollover amounts reported on the FAFSA.

If this scenario applies to your 2015 tax data, please provide a copy of the Form 1099-R or Form 5498 used to file your 2015 taxes for counselor review. When reviewing the student’s Student Aid Report (SAR), a rollover amount is reflected under untaxed IRA distributions (FAFSA questions #45e and #94e) or untaxed pension distributions (FAFSA questions #45f and #94f) from the 2017-18 FAFSA.

All documents submitted for review should be clearly labeled with the student’s full name and student ID number.

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347 S. Gladstone Ave.
Aurora, IL 60506
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