What is the difference between a rollover and a transfer?
Transfer is IRA-to-IRA; rollover is from 401k to IRA within 60 days.
A transfer involves moving funds from like account to like account (IRA to IRA), directly from current custodian to new custodian.
A rollover involves moving funds from a qualified plan, usually a 401(k), to a different type of qualified account, such as an IRA. When an indirect rollover occurs, funds are distributed to the account owner who must place the funds into a qualified account within 60 days.