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Bad news: IRA rollovers now limited to one per year


SKU: FOCjj154. Category: .


Abstract: Through the end of 2014, individuals with more than one individual retirement account (IRA) could take a distribution from an account and, so long as the funds were either rolled back into the same account or moved to another IRA within 60 days, they could be fairly confident that the transaction wouldn’t be taxed. What’s more, they typically could do a distribution-and-rollover from each of their IRAs, with none being taxed. But, that’s no longer the case. With a few exceptions, the IRS has limited IRA rollovers to one in each 12-month period, across all of an individual’s SEP, SIMPLE, traditional and Roth IRA accounts. This article explains the new rule.

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