Rollover IRA, Penalty Questions and a long story. Hi, everyone, since I can't get a satisfied answer from either my former employer, my accountant & my friends, I think maybe some elite trader here can answer my question better. I left my company one & half year ago. And I have about $15,000 in the 401K account. 3 months ago I applied an InteractiveBrokers Direct Rollover account and would like to transfer my money from former 401K plan to this account because the HR manager (one of 3 company owners) insist that I have to open a "qualified IRA" account first. When I did open it then he told me that in order to withdraw money from my 401K plan, he must have the other 2 owners to sign the paper and he said the other 2 company owners are overseas and can't get back until one month later. I told him IB only allow 3 months to fund an account and he keeps arguing that why a broker will only allow a 3 month period to fund an account. Anyway, when the other 2 owners came back and signed the paper, another month passed by, and during that month I keeps calling to check the progress and he said it just took time. Then another 2 weeks passed by and He said the company handling 401K (which happens to be Alliance Capital) moved their office to new location and he & the agent who handle 401K plan for the company did not get informed, go figure. This is absolutely outrageous, how can a company this big moved their office and not informing their customer? Absolutely excuse! 2 days ago, my applied Rollover IRA account was closed by IB because 3 months pass by and $0 was deposited to the account. Today, I got the HR manager's call say he got the money from the 401K plan and will write me a personal check. My question is, can I accept this $15,000 personal check? Will I get penalty from IRS, even if I deposit this check within 60 days into a new applied IB Rollover IRA account? Or should I ask the company pay directly (either check or wire) to IB? And is this amount over IRA distribution limit? Thanks for any suggestion, all inputs will be appreciated.