Roth IRA “rollover”?
I know that you can take your contributions from a Roth IRA at any time for any reason without penalty – but are Roths treated like tradional IRAs in that you put any funds back into the account within 60 days without tax /penalty consequences? For example if you had made $4000 contributions for last 2 years then took $8000 out for whatever reason – could you put all 8000 back within 60 days?
Permalink Submitted by Alan Spross on Thu, 2007-09-27 22:36
Yes, the rollover rules are the same for TIRA and Roth IRAs. You can only do the distributions and roll back once every 12 months per account, so that limits temporary use of the funds.