Sometimes, a taxpayer will “roll over” funds from an existing IRA, pension or annuity plan to another qualified plan during the same tax year. These rollover amounts are not considered in the Expected Family Contribution. This is because that portion of the distribution was reinvested immediately in a recognized retirement fund.
If the applicant or parent uses the IRS DRT when completing the FAFSA on the web, and transfers an amount greater than zero ($0) for Untaxed Portions of IRA Distributions or Untaxed Portions of Pensions, the individual will be required to answer a question about whether that amount includes a rollover. If the individual answers “yes,” they will be prompted to enter the amount of the rollover.
If the applicant is selected for verification, ASU will request confirmation of the rollover amount.
If the applicant is NOT selected for verification AND the rollover was not reported accurately on the FAFSA, please submit the following documentation based on the academic year in question:
Need additional help? Access 24/7 live chat, create a case from
My ASU Service Center or call 855-278-5080.
